The Hindu Business Line : Sify net loss narrows to Rs 6 cr

Sify Ltd said on Thursday that its net loss narrowed to Rs 6.01 crore for the year ended March 2006, from Rs 26.07 crore last year. Sales grew 30 per cent to Rs 463.87 crore (Rs 356.92 crore) in the same period.

For the quarter ended March 2006, the company recorded a net profit of Rs 5.67 crore compared to a loss of Rs 12.61 crore the same period in the previous year. Sales for the quarter grew 24 per cent to Rs 126.78 crore (Rs 102.06 crore).

The company's enterprise division, which contributes to about 53 per cent of revenues, grew 25.63 per cent to Rs 248.80 crore (Rs 198.04 crore) in the year. Access media, which accounts for about 39 per cent of revenues, grew 29 per cent to Rs 181.41 crore (Rs 140.49 crore).

The iWay chain of cybercafes, that comes under the Access Media head, grew to reach 3,300 cafes It added about 200 cafes in the last quarter. It also grew its subscriber base for high speed Internet access to homes to 183,000 subscribers with the service expanded to 91 cities.

The Portals business, which accounts for about 4 per cent of total revenues, grew 74 per cent to Rs 17.90 crore in the year.

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