The Hindu Business Line : Sify posts net loss of $1.4 m

SIFY Ltd today reported net loss of $1.4 million for the quarter ended September 2005, an increase of 33.33 per cent from a net loss of $ 1.05 million in the same quarter the previous year.

It reported revenues of $ 26.7 million, a growth of 36 per cent ($ 19.59 million). The growth in revenues over the previous quarter was 15 per cent from $ 23.54 million.

Sify's operating profit (before interest, tax, amortisation and depreciation — Sify refers to this figure as adjusted Ebitda) slumped 29.3 per cent to $1.23 million in September 2005 from $ 1.74 million in September 2004.

A company statement said it had ended the quarter with a cash balance of $ 26 million after capital expenditure of about $ 4 million during the quarter.

It also said that its "adjusted EBITDA this quarter increased by nearly $ 1 million, compared to the previous quarter."

The consumer business, which includes interactive services such as broadband content, retail Internet access, Internet telephony and online education, accounted for 42.4 per cent of revenues during the quarter.

Corporate services, including hosting, application services (such as document management systems), risk assessment and data security accounted for 54.4 per cent of revenues during the September 2005 quarter.

Sify owns a 30 per cent minority interest in Refco Sify Securities India, a joint venture with Refo Group, USA. It may be recalled that Refco, a commodities brokerage, had filed for bankruptcy last week.

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