Sifys revenues at $38.28 mn in Q2

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Sify's revenues at $38.28 mn in Q2

Net loss for the quarter was $2.36 million as against a that of $ 6.12 million in the same quarter in the previous year

Friday, October 23, 2009

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MUMBAI, INDIA: Sify Technologies Limited, an enterprise and consumer Internet services company in India, announced today that its revenues for the second quarter of the fiscal year 2009-10 were $38.28 million, 17 per cent higher than in the same quarter of the previous year, and 12 per cent higher than the preceding quarter.

Net loss for the quarter was $2.36 million as against a that of $ 6.12 million in the same quarter in the previous year. In the previous quarter the loss was $3.35 million. Net loss for the previous quarter was further subject to a one-time beneficial tax adjustment of $1.83 million on account of the merger of Sify Communications with Sify Technologies Limited.

Enterprise services registered strong growth from data center, managed voice and systems integration services, said a press release. International services revenues also registered strong growth. Consumer services revenues were lower than previous quarters, with the focus on making the businesses profitable, before growing subscribers and revenues.

Capex during the quarter was $3.60 million on account of data center and network infrastructure expansion during the quarter. Sify ended the quarter with a cash balance of $5.36 million, according to the release.

"Enterprises are engaging us to help create new business capabilities and significantly advance their business objectives over the short, medium and long term," said Raju Vegesna, board chairman, CEO and MD, Sify Technologies.

"We continue to experience demand across data center services, managed network services and managed voice services. On the consumer front, we are seeing traction in the online advertising space and expect it to continue going forward," he added.

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