|By Business Wire||
|January 28, 2013 07:44 AM EST||
Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Managed Enterprise, Network and IT Services in India with growing global delivery capabilities, today announced its consolidated results under International Financial Reporting Standards (IFRS) for the third quarter of fiscal year 2012-13.
Performance Highlights Q3 FY 2012-13:
- Sify reported revenues of INR 2222 million for the quarter ended December 31st, 2012 against revenues of INR 1805 million for the corresponding quarter of the previous year, a growth of 23%.
- EBITDA for the quarter increased to INR 206 million, as compared to INR 135 million in the corresponding quarter previous year.
- Net loss for the quarter was INR 56 million, as against a net loss of INR 74 million in the corresponding quarter previous year.
- CAPEX during the quarter was INR 296 million. Cash balance at the end of the quarter was INR 811 million.
Mr. Raju Vegesna, Chairman, said, “In my discussions with business leaders across the globe, I am seeing a common factor emerging. The IT and telecom industry is moving towards consolidation and with it, an increasing focus on applications and IT solutions that span the networking and IT services portfolios. Clients are asking for cost-effective solutions that leverage our existing portfolio and are tailored to their needs. In doing so, we are drawing largely on the accumulated skill sets and knowledge base built over the years. This is also increasing the absolute demand for data storage and transfer, the biggest beneficiaries being our network and hosting business. It is heartening to see Sify become a preferred solution provider for both large-scale Government and private IT projects. Their confidence stems from the fact that Sify, as a company has grown through the IT life cycle and is therefore uniquely able to navigate the challenges in the industry.”
Mr. Kamal Nath, CEO, said, “Our Sify 3.0 go-to-market strategy & offerings are being well-accepted by both our large existing customer base and new clients as well. We are seeing a significant shift from the “Purchase of IT Infrastructure” model to the “Subscription of IT Infrastructure” model, both in the Large Enterprise and SME segments. Our Cloud Infinit offering and Private Cloud solutions offer great options for Enterprises to adopt this model. We are also benefiting from the network consolidation trend, as Large Enterprises reduce the number of Network Service Providers. The coming quarter focus will predominantly be driven by these two trends, as we had identified these early and are well engaged with our clients.”
Mr. M P Vijay Kumar, CFO, said, “The past few quarters have been demanding for the telecom industry in India. While Sify’s growth has been much stronger than many others in the industry, we continue to run a tight ship and keep a strict vigil on our expenses. That said, Sify has made selective capital investments in fields where we have established a strong market position. This will ensure we have sufficient capacity for growth when the revenue cycle becomes robust.”
Cash balance at the end of the quarter was INR 811 million.
|Unaudited Consolidated income statement as per IFRS|
|(In INR millions)|
|Cost of Revenues||(1,279||)||(1,015||)||(1,125||)|
|Selling, General and Administrative Expenses||(737||)||(655||)||(782||)|
|Depreciation and Amortisation expense||(220||)||(172||)||(208||)|
|Net Finance Expenses||(47||)||(57||)||(17||)|
|Share of Affiliates||-||3||-|
|Profit from sale of shares in affiliate and rights therein||-||-||658|
|Profit / (loss) Before tax||(56||)||(74||)||603|
|Profit / (loss) for the period||(56||)||(74||)||603|
Reconciliation with Non-GAAP measure
|Profit / (loss) for the period||(56||)||(74||)||603|
|Depreciation and Amortisation expense||220||172||208|
|Net Finance Expenses||47||57||17|
|Share of Affiliates||-||(3||)||-|
|Profit from sale of shares in affiliate and rights therein||-||-||(658||)|
Our strategy of increasing market coverage through network expansion is yielding results.
- Revenue of Network services has grown 10% over last quarter.
- Data business continues to grow with a robust 17% growth over same quarter previous year.
- Our network now reaches over 1000 cities and towns in India; Sify is now the network of choice for customers and carriers looking for coverage.
- We have won new large accounts from PSUs and BFSI.
- We have won a large order for IP Transit from one of India’s largest broadband service providers, leveraging our recent investment in submarine cable systems and our cable landing station.
- Emerging enterprises is experiencing robust demand in Tier II and III markets.
- Wholesale Voice grew by 20% over last quarter.
- Sify won the Vision 2012 awards for Best Connectivity Partner at Nation Co-operative Banking Summit 2012.
- Revenue for Hosting Business has grown 4% over last quarter and 22% over the same quarter last year.
- We won multi-year Hosting contracts from System Integrators.
- We also won a large multi-year Hosting Service Contract from a Top Indian Software Major.
- We concluded Strategic alliances with major system integrators to bundle our hosting services with their offerings.
- Our upcoming data center at Noida has been certified to global Tier III standards by Uptime Institute, a major global data center certifying authority.
- We launched Disaster Recovery (DR)-as-a-Service and Business Continuity Management on the Cloud platform.
- We launched a few ISV applications deployment on Cloud for various Industry verticals.
- In order to strengthen confidence in the Cloud Services, a major Internal IT workload is being moved to the Cloud as proof-of-concept (PoC).
- We won some large strategic accounts for Managed Services (Infrastructure and Platform).
This business now includes eLearning and portals
- We had major wins in the Engineering, Media and Logistics industry for our EAS business.
- Sify eLearning business has grown 20% over the previous quarter.
- Sify was selected to consult for a multinational corporation for their initiative to train students in India.
- Sify.com registered a growth of 45% in new visitors against same quarter last year.
- Sify Scores widget, which provides the latest on Cricketing action, has been launched on websites of multiple partners.
- Our Android application for the bullion market saw over 30% increase Q on Q in new signups.
- We won the Asian Learning Leadership Award (Dubai) for the most innovative new product and a second Brandon Hall award this year for Best Advance in Mobile Technology.
- We won the eIndia summit award for this year, based on the uniqueness of our Aadhar certification platform.
About Sify Technologies
Sify is among the largest integrated Managed Network, IT and Software services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 1000 cities and towns in India.
A significant part of the company’s revenue is derived from Corporate Enterprise Services, which include Network and IT services, Connectivity, Security, Network management services, Enterprise applications, Hosting and Remote Infrastructure Management Services. A varied product portfolio at multiple price points allows Sify to also cater to the burgeoning demands of the SMB/SOHO community and the retail consumer; much of it on the cloud platform.
Sify is a recognized ISO 9001:2008 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions, and ISO / IEC 20000 - 1:2005 and ISO/IEC 27001:2005 certified for Internet Data Center operations. Sify has also built a credible reputation in the emerging Cloud Computing market and is today, regarded as a domain expert. Sify has licenses to operate NLD (National Long Distance) and ILD (International Long Distance) services and offers VoIP backhaul to long distance subscriber telephony services. With the Sify Cable landing station and the partnerships inked with several cable companies globally, Sify is present in almost all the spheres of the ICT eco system.
The company has an expanding base of Managed Services customers, both in India and overseas, and is also India’s first enterprise managed services provider to launch a Security Operations Center (SOC) to deliver managed security services.
Sify Software develops applications and offers services to improve business efficiencies of its current clients and prospective client bases. Sify also offers services in the specialized domains of eLearning for-profit, not-for-profit and government institutions both in India and globally. The business also operates two of the most popular portals in India, Sify.com and Samachar.com.
For more information about Sify, visit www.sifycorp.com.
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, 2012, 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.
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Jan. 30, 2015 06:30 AM EST Reads: 1,920
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
Jan. 30, 2015 06:00 AM EST Reads: 2,764
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Jan. 30, 2015 05:00 AM EST Reads: 2,826
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Jan. 30, 2015 04:45 AM EST Reads: 3,121
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
Jan. 30, 2015 04:30 AM EST Reads: 3,162
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 30, 2015 03:30 AM EST Reads: 3,092
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
Jan. 30, 2015 03:30 AM EST Reads: 3,814
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Jan. 30, 2015 03:00 AM EST Reads: 1,869
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immediate and actionable interpretation of events as they happen. Another aspect concerns how to deliver ...
Jan. 30, 2015 03:00 AM EST Reads: 3,434
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Jan. 30, 2015 02:30 AM EST Reads: 3,013
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Jan. 30, 2015 02:00 AM EST Reads: 3,034
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
Jan. 30, 2015 02:00 AM EST Reads: 3,035
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Jan. 30, 2015 01:00 AM EST Reads: 2,907
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Jan. 30, 2015 12:30 AM EST Reads: 3,051
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Jan. 29, 2015 06:15 PM EST Reads: 4,103
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science from the University of California, Berkeley.
Jan. 29, 2015 06:00 PM EST Reads: 3,290
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
Jan. 29, 2015 06:00 PM EST Reads: 3,043
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Jan. 29, 2015 05:00 PM EST Reads: 4,101
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 29, 2015 02:30 PM EST Reads: 2,632
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Jan. 29, 2015 02:15 PM EST Reads: 3,197