The Hindu Business Line : Sify trims net loss

SIFY Ltd, the Chennai-based Internet, network and e-commerce services company, reported reduced net loss of $2.20 million on revenues of $21.85 million for the quarter ended December 31, 2004.

It hadposted a net loss of $2.37 million on revenues of $16.44 million for the corresponding quarter last year.

Cash balance at the end of the December 2004 quarter was $36.7 million, according to a company press release.

Mr R. Ramaraj, Managing Director and CEO, Sify, in a press release said, "We are confident that the investments made in the last quarter to expand our network to support our large enterprise wins, and to establish resources for our International Remote Infrastructure Management Services will translate into additional revenue streams in the future.

"The alliance with Global Crossing has started to benefit our customers with extended global reach as they pursue international business opportunities, while Global Crossing's customers will benefit from reach across India.

"We continue to grow our revenues while increasing efficiencies to generate cash from operations. We are pleased that this was the fifth consecutive quarter where we have been free cash flow positive," he said.

Sify's corporate services contributed 55.5 per cent of the revenues for the December quarter; the retail segment 39.9 per cent and the portal segment 2.8 per cent, the release said.

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