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Sify Q2-FY13: Net Profit At Rs 61.2 Cr; Total Revenue At Rs 205.9 Cr

Sify Technologies, the NASDAQ listed Indian Internet and IT firm, reported total revenues of Rs 205.9 crore for the quarter ended September 30th 2012, up 13% from Rs 181.5 crore from the same quarter last year. The company’s EBITDA for the quarter stood at Rs 16.1 crore, up from Rs 13.6 crore for the same quarter last year.

Sify recorded a net profit of Rs 61.2 crore for the quarter, as against a net loss of Rs 8.9 crore in the same quarter last year. This profit includes a one time profit of Rs 65.8 crore generated on the company’s exit from MF Global Sify Securities in August 2012. Without this one-time profit, the company had registered a net loss of Rs 4.5 crore for the quarter.

Out of all the business segments, the major chunk of revenue continues to come from the Enterprise segment, which accounted for Rs 188.2 crore of the company’s revenues, up 16.7% from Rs 161.3 crore in the same quarter last year. On the other hand, revenues from its software segment stood at Rs 17.7 crore revenue, down 12.4% from Rs 20.2 crore in the same quarter last year.

Highlights

– During the quarter, Sify launched a Social reader for Facebook and introduced new channels to its portal including Sify Skills and Sify Gold & Silver Line. The company mentions that Sify.com grew by 34% year-on-year (YoY), citing comScore metrics.

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– Sify’s Software services reported a 22% growth over the previous quarter, driven by Enterprise application services which grew by 40% from the previous quarter.

– Sify’s Network services witnessed growth in its core data business, with revenues increasing by 17% YoY and 4% over the previous quarter.

– The company mentions that its domestic network coverage now stands at 1795+ base stations across 970 cities in India.

– Sify also stated that it has inked network services deals with a large public sector bank and a retail chain during the quarter and noted that the business growth in this segment has been the major factor behind the overall data revenue growth rate for the company.

Sify did not elaborate on other aspects such as cybercafes, and broadband connections.

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