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Sify posts 1Q 08-09 net loss of $2.39 million; revenues grows to $35 million

Sify Technologies has reported a growth of 7 per cent in its revenues at $35 million for the first quarter ended June 2008, as compared with $32.73 million in the corresponding quarter of the previous fiscal year. Net loss for the quarter was $2.39 million compared to a net loss of $1.09 million in the June 2007 ended quarter.

Sify Technologies has reported a growth of 7 per cent in its revenues at $35 million for the first quarter ended June 2008, as compared with $32.73 million in the corresponding quarter of the previous fiscal year. Net loss for the quarter was $2.39 million compared to a net loss of $1.09 million in the June 2007 ended quarter.

According to Sify, the enterprise and international segments of the business registered growth at 17 per cent and 38 per cent respectively, while the consumer segment recorded revenues 18 per cent lower than the previous year. Sify ended the quarter with a cash balance of $18.04 million after capital expenditures of $7.97 million during the quarter.

Raju Vegesna, chairman, CEO and MD, Sify Technologies, has said, “We continue to effect strong growth in our enterprise and international business segments. The results of our ongoing restructuring of the consumer business will be felt after the second quarter of this financial year with new branding and marketing initiatives. While there are many new initiatives under way in the portals business, it will be re-launched during the second half of the current financial year.”

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