Business Daily from THE HINDU group of publications
Tuesday, Jan 23, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jan 23, 2007 ePaper |
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Info-Tech
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Financial Performance Corporate Results - ISPs Sify Q3 revenues grow 15.8% Our Bureau
The company's revenues stood at $31.5 million (Rs 141.7 crore). The sequential growth in revenues over the previous quarter was at 1 per cent. Net profit for the quarter was $0.94 million (Rs 4.2 crore) compared to a net loss of $0.24 million (Rs 1 crore) in the same quarter of the previous fiscal year. The company reported net profit of $1.55 million (Rs 6.9 crore) in the previous quarter. Cumulative net profit for the nine months ended December 31, 2006 stood at $3.91 million (Rs 17.6 crore) compared to a net loss of $3.86 million (Rs 17.3 crore) during the same period last year. Net profit for the quarter was impacted due to exchange loss of $0.47 million (Rs 2 crore) incurred on account of the strong rupee against the dollar; provision for doubtful debts on overdue amounts carried on the books for a period of time amounted to $1.56 million (Rs 7 crore) during the quarter; and lower margins due to sales mix in some businesses amounted to $0.73 million (Rs 3.3 crore). The company has said in a press release that in the quarter billing of IP VPN revenues commenced from Sify Communications Ltd in keeping with the licensing requirements of the Government of India.
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