Sify Q4 net up 17% to Rs 10 cr on increased IT services business

Revenue by 12% to Rs 404 crore; full-year profit up 16% to Rs 44 cr

IT services firm Sify Technologies Ltd said fourth quarter profit rose 17 per cent to Rs 10.4 crore and revenue by 12.3 per cent to Rs 403.6 crore, as clients increased spend on managing infrastructure and data centres

Sify, one of India's earliest internet focused firms, refocused its business three years ago as an IT services firm offering data services and cloud services to clients both locally and globally.

Sify had reported profits of Rs 8.9 crore on revenues of Rs 359.4 crore for the
corresponding quarter last year.

"This year, Sify also took its first steps toward a larger ambition of going global; not just on signing up international clients, but also building a pool of highly skilled workforce with the launch of our Global Innovation and Development Centre at Hyderabad. We believe that our complete ICT ecosystem and this on-demand workforce will be an undeniable advantage for our customers in the long run,” said Raju Vegesna, Chairman of Sify in a statement.

Sify said full-year profit rose 16 per cent to Rs 43.6 crore on revenue of Rs 1,503.5 crore, an increase of 17 per cent over the previous year.

"A significant number of our clients have endorsed us for our Data Centre Transformation and Network Transformation offering while choosing us as their Integrated ICT partner," said Kamal Nath, CEO of Sify. "The quantitative and qualitative performance coupled with healthy mix of Run rate, Annuity and Large deals have strengthened our base for a sustained growth in FY16-17 and beyond.”

The Sify Technologies stock on the Nasdaq, where it is listed, dropped 0.74  per cent or one cent to close at $1.35 on Friday.