CHENNAI: Sify reported its consolidated financial results for Q2 FY 2024-25, where it showed a net profit of Rs 4.9 crore.
Its revenue was Rs 1,028 crore, recording a 17 per cent increase over the same quarter of last year. Capex during the quarter was Rs 259 crore, as per a release.
Raju Vegesna, chairman, said, “The enterprise landscape in India is undergoing a transformative evolution, driven by a confluence of regulatory advancements, innovative business models, and robust infrastructure development. As we navigate this dynamic environment, it is clear India is emerging as a global hub for information and communication technology (ICT).”
Having adopted the new standard of international accounting standards (IFRS 18) from the last quarter ending June 30, 2024, MP Vijay Kumar, ED-group CFO, said, “By adopting the new framework, we seek to maintain clarity and consistency in our financial communications. While our presentation may change, there is no alteration in total income or net profit. We also remain committed to cost-effectiveness and fiscal prudence. Our ongoing investments reflect a forward-thinking perspective that anticipates market trends.”