Sify's Strategic Losses: Building Future-Ready Capabilities
Sify reported a consolidated loss of Rs 38.9 crore in the June quarter, up from Rs 5.2 crore last year. Despite rising expenses, revenue grew 14% to Rs 1,072.3 crore. Sify is focusing on building future-ready capabilities, with rising investments in network, data center, and digital services.
- Country:
- India
IT company Sify announced a sharp increase in consolidated losses, which reached Rs 38.9 crore for the June quarter, compared to a Rs 5.2 crore loss in the same period last year.
Despite these losses, the company's revenue experienced a 14% uptick, achieving Rs 1,072.3 crore from Rs 942.1 crore in the previous June quarter of 2024.
Sify's Executive Director and Group CFO, MP Vijay Kumar, explained that the losses reflect strategic investments in future-ready capabilities, with expenditures in depreciation, interest, and manpower recognized as necessary trade-offs. Revenue distribution across Sify's sectors showed network services at 41%, data centers at 37%, and digital services at 22%. New data center capacity of 8.6 MW was also commissioned during the quarter.
(With inputs from agencies.)
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