SIFY - Sify Technologies: Positive Outlook On India Data Centers Momentum

2024-01-23 12:16:07 ET

Summary

• Sify Technologies reported its fiscal Q3 results highlighted a climb in adjusted EBITDA.
• The company is re-calibrating its strategy to focus on high-margin opportunities including growing demand for data center capacity in India.
• The stock has been volatile but we see a path for stronger earnings as a bullish tailwind in 2024.

Sify Technologies Limited (SIFY) latest quarterly results can be described as mixed. Despite a net loss and top-line weakness, the bigger story was impressive growth in the company's data center services segment. We can highlight an ongoing shift in the revenue mix toward high-margin and value-added opportunities set to support stronger profitability going forward....

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