EBITDA for the year stood at INR 3122 Million
Net Profit for the year was INR 1069 Million
The Board has recommended a dividend of 12%

SANTA CLARA, Calif., April 22, 2019 (GLOBE NEWSWIRE) --

PERFORMANCE HIGHLIGHTS:

MANAGEMENT COMMENTARY

Mr. Raju Vegesna, Chairman, said, “The last two years has seen private Indian enterprises, and the government, rethink the role of IT within their organisation. While there is continued aggression in their adoption, we are seeing a distinct maturity in the profile of services being contracted. The wisdom to contract with a single service provider is also allowing global MNCs entering India to shrink their go-to-market time.

Our focus, this upcoming year, will be to solicit disruptive contracts that would help us build a unique portfolio of knowledge-driven Cloud and Managed services”

Mr. Kamal Nath, CEO, said, "With Cloud@Core at the heart of most of our service lines, over the past year, we have been able to establish our strategic relevance to customers in their Digital Transformation journey. Today we are one of the few Indian companies which serves the entire cloud spectrum of Cloud Enabling, Cloud Inspired, Cloud Pure and Cloud Enhanced services.

These have also strongly supported the growth of our Telecom business around the SD WAN, Cloud Interconnects and Intelligent Edge networks.”

Mr. M P Vijay Kumar, CFO, said, “Our revenue growth is lower than the prior year due primarily 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.  In line with our focus on cash management, we are also taking a conscious business decision to reduce exposure to contracts with extended working capital cycle. The network and data center services continue to see demand and we are expanding on the capacity. We continue to make investments in our people and tools that complement digital transformation services for our clients. We will, as in the past, keep a tight leash on our costs and the turnaround time.

The Board has recommended a dividend of 12 % subject to approval from shareholders.

Cash balance at the end of the year was INR 2248 Million”

FINANCIAL HIGHLIGHTS

Unaudited Consolidated Income Statement as per IFRS   
(In INR millions)    
 Quarter ended Quarter endedYear ended Year ended
DescriptionMarchMarchMarchMarch
 2019 2018 2019 2018 
    (Audited)
     
Revenue5,623 6,062 21,547 20,686 
Cost of Revenues(3,546)(4,093)(13,602)(13,435)
Selling, General and Administrative  Expenses(1,255)(1,231)(4,823)(4,395)
     
EBITDA822  738  3,122  2,856  
     
Depreciation and Amortisation expense(394)(374)(1,533)(1,755)
Net Finance Expenses(199)(139)(682)(368)
Other Income (including exchange gain)77 36 217 190 
Other Expenses (including exchange loss)- - (52)- 
     
Profit before tax306 261 1,072 923 
Income tax expense(3)(0)(3)(0)
Profit for the period303  261  1,069  923  
     
 Profit attributable to:      
Reconciliation with Non-GAAP measure    
Profit for the period303  261  1,069  923  
Add:    
Depreciation and Amortisation expense394 374 1,533 1,755 
Net Finance Expenses199 139 682 368 
Other Expenses (including exchange loss)- - 52 - 
Income tax expense3 0 3 0 
Less:    
Other Income (including exchange gain)(77)(36)(217)(190)
EBITDA822  738  3,122  2,856  
     
     

BUSINESS HIGHLIGHTS

GROWTH DRIVERS

The primary growth drivers in the markets are cloud adoption led by digital initiatives and transformation. This trend is triggering movement of workloads from on-premise Data Centres to hyperscale Public Cloud and hosted Private Cloud in varied degrees, based on the digital objectives of the enterprises. This in turn, is triggering transformation of the traditional network architecture, and transformation at the edge which connects the end user. The need for digital services like analytics, data lakes, IOT etc are shifting the balance to adoption of hyperscale Public Cloud vs Private cloud. Collectively, these trends are generating opportunities for full scale Cloud, DC and Network service providers with digital services skills.

KEY WINS AND BUSINESS HIGHLIGHTS

About Sify Technologies

Sify is the largest ICT service provider, system integrator and all-in-one network solutions company on the Indian subcontinent. We’ve also expanded to the United States, with headquarters in the heart of California’s Silicon Valley.

Over 10000 businesses have become Sify customers. We also partner with other major network operators to deliver global network solutions. Our customers can access Sify services via India’s largest MPLS network. Among the very few Enterprise class players in India, Sify, today has presence in more than 1600 cities in India and in North America, the United Kingdom and Singapore.

Sify, Sify Technologies, and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.

For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2018, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.

For further information, please contact:

Sify Technologies LimitedGrayling Investor Relations20:20 Media 
Mr. Praveen Krishna  
Investor Relations & Public RelationsShiwei YinNikhila Kesavan
+91 44 22540777 (ext.2055)
+1-646-284-9474
+91 9840124036