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Sify net profit rises 16 pc to Rs 30 cr in March quarter

Press Trust of India  |  New Delhi 

IT company Sify Technologies Tuesday said its net profit increased 16 per cent to Rs 30 crore in the quarter ended March 31.

The company had recorded a profit of Rs 26.1 crore in the corresponding period a year ago.

Its revenue declined 7.2 per cent to Rs 562.3 crore, compared with 606.2 crore in the corresponding quarter of 2017-18.

"Our revenue growth is lower than the prior year primarily due to the expiration of a large government multi-year services contract.

"Excluding this impact, the overall revenue growth was in line with last year's growth," Sify Technologies Chief Financial Officer M P Vijay Kumar said in a statement.

For the year ended March 31, Sify Technologies posted a 15.8 rise in its net profit to Rs 106.9 crore, compared with the Rs 923 crore it reported for 2017-18.

The annual revenue of the company increase 4 per cent to Rs 2,154.7 crore for 2018-19 from the Rs 2,068.6 crore it posted for the previous financial year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 23 2019. 15:05 IST