Companies

Promoters invest $21.7 m in Sify

Our Bureau Chennai | Updated on January 30, 2011 Published on January 29, 2011

The promoters of Sify Technologies Ltd have infused $21.7 million into the company during the quarter ended December 31, 2010.

This is in response to their earlier subscription to the capital of $86 million. The capital infusion has improved Sify's liquidity and will help fund its data centre and network expansion, according to Mr M.P. Vijay Kumar, Chief Financial Officer, Sify. The firm provides managed enterprise and consumer Internet services.

For the third quarter ended December 31, 2010, Sify reported a net loss of $2.09 million on a revenue of $39 million against a net profit of $9.25 million on a revenue of $38 million during the corresponding quarter last year, according to a company press release.

Published on January 29, 2011
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