Sify Q3 posts net profit of $9.46 mn

CIOL Bureau
New Update

CHENNAI, INDIA: Sify Technologies Limited, a provider of Internet services, today announced it posted a net profit of $9.46 million for the third quarter of fiscal year 2009-10.


It was against a net loss of $5.54 million in the same quarter in the previous year, and a net loss of $2.53 million in the immediately preceding quarter.

It posted a revenue of $39.19 million for the current quarter that was up by 18 per cent higher than in the same quarter of the previous year, said a press release.

The growth was driven by revenues from enterprise services with data centre, managed voice, applications services and systems integration services all registering growth. International services revenues were the same as the previous quarter.


Consumer services revenues were lower than previous quarters, pending the launch of a new business model for cafes, a new strategy developed for broadband services and a unified approach for value added services.

Raju Vegesna, board chairman and CEO and MD, Sify Technologies, said, "We are happy to report continued revenue growth from our Enterprise services. In addition to the lines of services to corporates, we are seeing traction from services to both the Central and State governments. We are in the final stages of preparation of a unified strategy for our consumer services, with test launches slated for the near future.”

He added that this was necessitated by the change in the environment in which we operate, and we believe the new strategy will benefit us with growth in revenues going forwards. While international service revenues were about the same as the previous quarter, we have a healthy funnel and expect to grow revenues going forwards”.


CVS Suri, chief operating officer, Sify Technologies, said, "We continue to see growth in enterprise services revenues across hosting, applications and managed voice services. In addition, we are gaining traction in services to the government for data centres and applications development. On the consumer front, we are finalizing our plan for a unified approach with value added services delivered across platforms: cyber cafes, broadband as well users.”

He added that they are also soon launching a new business model for cyber cafes to expand reach and revenue opportunities.