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Sify posts Q3 net loss of $2.2 m

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CIOL Bureau
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NEW DELHI: Sify Ltd has posted a lower net loss of $2.20 million for the quarter ended December 31, 2004, compared to a net loss of $2.37 million for the same quarter last year.






According to its consolidated US GAAP results for the third quarter ended December 31, 2004, the company has recorded a 33 percent increase in revenue to $21.85 million over the same quarter last year.





The company announced that it has made cash profits of $1.09 million (in terms of adjusted EBITDA) in the third quarter ended December 31, 2004 as compared to a cash profit of $1.02 million for the same period last year.





Sify MD and CEO, R Ramaraj said, "Our revenues continue to grow steadily. 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."










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