Sify Technologies Ltd profit up by 47%

Company's revenue up by 22%

Sify Technologies Limited has reported a growth of 47 per cent in net profit at Rs 12.5 crore during the quarter ended on June 30, 2016, as compared to net profit of Rs 8.5 crore during the same quarter of last year. Revenue for the quarter was Rs 417 crore, an increase of 22 per cent compared to Rs 340 crore reported during the corresponding quarter of previous year.

Raju Vegesna, chairman, Sify Technologies said that the market for complete information technology eco-system is growing and the government's agenda of Digital India is creating new opportunities to apply the company's comprehensive solutions portfolio.

"As these projects are successfully commissioned, they will serve to strengthen our credibility to provide similar solutions to larger MNCs. We are also expanding our infrastructure footprint in line with commitments to some of our key MNC clients. These will serve as a strong platform to support Sify's continuing growth," he said.

Kamal Nath, chief executive of the company said: "For successive quarters, we have continuously grown our revenue, order book and profitability. We are happy to share that the diversity of our client base in multiple verticals is improving each quarter. We have seen healthy mix of business from run rate deals and strategic large deals from indian enterprise, MNCs, government and public sector units."

M P Vijay Kumar, chief financial officer, Sify said: "The company continue its focus on cost efficiency in execution of projects and in its operations, while simultaneously investing in people and tools for future growth."