Financial Daily from THE HINDU group of publications
Wednesday, Jan 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jan 21, 2004 |
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Info-Tech
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Financial Performance Corporate Results - ISPs Sify loss narrows Our Bureau
Chennai , Jan. 20 SIFY Ltd has reported a loss of Rs 10.24 crore for the quarter ended December 31, 2003, down 68 per cent from the Rs 32.20-crore loss for the same quarter the previous year. Its sales revenues grew 37 per cent, to Rs 71.14 crore for the third quarter of this financial year from Rs 51.92 crore for the same period last year. In a press release, Sify said that it ended the quarter with a cash balance of Rs 133.91 crore ($ 29.4 million). It said corporate services contributed 49 per cent of the revenues, retail Internet access 39 per cent and interactive services 2.4 per cent. The release quoted Mr R. Ramaraj, Managing Director and CEO, as saying "I am pleased the business has delivered cash profits this quarter of nearly a million dollars. Our diversified business model is beginning to be vindicated. The next milestone on our path will be to achieve net profit."
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