Benzinga | Jul 30, 2021 07:21AM EDT

Sify Q1 Profit Jumps 91%, Estimates Sustained Demand From Data Policy And Remote Access

* Sify Technologies Ltd (NASDAQ:SIFY) reported first-quarter FY 2021-22 revenue growth of 23% year-on-year to INR6.5 billion.

* Revenue from Data Center-centric IT Services grew 45% Y/Y.

* Segment-wise, revenue from Data Center Services grew 38% Y/Y, Cloud and Managed Services rose 24%, Applications Integration Services increased 153%, and Technology Integration Services climbed 20%.

* Revenue from Network-centric Services grew by 3% Y/Y.

* Segment-wise, revenue from Data Connectivity Services grew 7% Y/Y, while revenue from the Voice business fell by 14%.

* Profit after tax increased 91% Y/Y to INR329 million.

* EBITDA improved 26% to INR1.45 billion. The EBITDA margin expanded 61 bps to 22.5%.

* It held INR3.5 billion in cash and equivalents.

* Chair Raju Vegesna estimated that critical requirements like the National data policy and continued remote access will push security to the top of the priority list for Enterprises, accelerating the interest in data center space on a pan-India basis.

* Price action: SIFY shares closed higher by 1.81% at $3.37 on Thursday.