- Sify Technologies Ltd (NASDAQ:SIFY) reported a fourth-quarter FY22 revenue decline of 0.8% year-on-year to INR6.81 billion.
- The costs rose 1.6% Y/Y to INR4.1 billion. Profit after tax for the quarter decreased 64% Y/Y to INR325 million.
- EBITDA improved 5.6% to INR1.54 billion.
- The company's FY21-22 revenue grew 11% Y/Y to INR27.03 billion.
- Revenue from Data Center colocation services rose 35% Y/Y, Revenue from Digital services fell by 1% Y/Y, and Revenue from Network-centric services grew by 7% Y/Y.
- The costs rose 9.1% Y/Y to INR16.04 billion. PAT declined 12% Y/Y to INR1.4 billion.
- EBITDA for the year rose 19% Y/Y to INR6.03 billion.
- Sify Technologies held INR4.59 billion in cash and equivalents.
- Chairman Raju Vegesna said, "A string of legislation like the Data Accessibility and Use policy, the Personal Data protection bill, the Cybersecurity policy, and the new Digital Law demonstrate the government's intention to reassure MNC and Indian Enterprises that were cautious about India's IT framework, ecosystem, and regulations."
- Price Action: SIFY shares traded lower by 3.67% at $2.89 on the last check Monday.
