Sify Ltd, the Chennai-based ICT service and solution provider, reported a consolidated net profit of ₹3.8 crore for the fourth quarter ended March 31, 2024, as against ₹3.4 crore in the same quarter last year. Revenue was up 8 per cent to ₹963 crore (₹886 crore).
For the fiscal ending March 31, 2024, the company reported a 93 per cent decline in net profit to ₹4.9 crore a(₹67.4 crore). This was due to increase in depreciation and amortisation expense impairment and higher interest cost, said a company official.
Revenue for the fiscal was up 7 per cent to ₹3,563 crore (₹3,340 crore). The revenue split between the businesses for the year was data centre services - 31 per cent; digital services - 28 per cent and network services - 41 per cent.
Capex for the year was ₹1,237 crore, said a release.
As of March 31, 2024, Sify provides services via 1,033 fiber nodes across the country, a 16 per cent increase respectively over the same quarter last year. It has deployed 7,835 contracted SDWAN service points across the country. The company has invested a cumulative of $7.22 million in start-ups in the Silicon Valley area as part of its Corporate Venture Capital initiative, the release said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.