What's Going On With Sify Technologies Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Sify Technologies Ltd (NASDAQ:SIFY) shares dropped after reporting Q4 sales of $116.05 million, missing the consensus of $149.30 million. Revenue growth was 8.8% Y/Y, with mixed performance across segments. Data Center services grew by 13.6%, Digital services fell by 8.7%, and Network services increased by 19.1%. EBITDA rose 11.4% to INR1.82 billion, and profit was INR38 million. The company expanded its infrastructure and workforce, focusing on Data Center presence and network interconnectivity. SIFY shares fell 4.88% to $1.17.
April 22, 2024 | 3:48 pm
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Sify Technologies reported lower than expected Q4 sales, leading to a 4.88% drop in stock price to $1.17. The company saw an 8.8% Y/Y revenue growth but missed consensus estimates.
The direct impact on SIFY's stock price following the earnings report indicates a negative market reaction to the missed sales expectations. The detailed financial results, including segment performance and infrastructure expansion, were overshadowed by the overall sales miss, leading to a decrease in stock price.
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