Top News

Sify posts net profit of $1.01 million for 2009-10; revenues grew to $156.93 million

Sify Technologies has reported a growth of 15 per cent in its revenues at $156.93 million for the year ended March 31, 2010, as compared to $136.5 million recorded for the previous fiscal year. Net profit for the March 2010 ended year was $1.01 million, as against a net loss of $18.87 million in the previous year. Cash balance at the end of the 2009-10 fiscal year was $19.34 million.

Sify Technologies has reported a growth of 15 per cent in its revenues at $156.93 million for the year ended March 31, 2010, as compared to $136.5 million recorded for the previous fiscal year. Net profit for the March 2010 ended year was $1.01 million, as against a net loss of $18.87 million in the previous year. Cash balance at the end of the 2009-10 fiscal year was $19.34 million.

According to Sify, net profit for the 2009-10 fiscal year was due to a one-time realisation from legal matters under other income of $12.66 million during the third quarter. The growth in total revenues was driven by revenues from Enterprise services which grew 33 per cent over the previous year. While Consumer services revenues declined by 35 per cent, a new business model with new products, services and delivery was developed during the year to return to growth. Sify’s Enterprise and Consumer services respectively accounted for around 81 per cent and 11 per cent of the total revenues during the year.

Raju Vegesna, chairman, CEO and MD, Sify Technologies, has said, “We have done well to grow our revenues overall despite the challenging climate during the year. For while the economy recovered, industry continues to be cautious, lead times for decisions are long and price discounts continue to be demanded. The changed business environment necessitated a realignment of services within both Enterprise and Consumer services for greater focus, efficiencies and speed of response. With the result that we were able to grow enterprise services revenues by 33 per cent, and develop a different approach to Consumer services towards the end of the year.”

C V S Suri, chief operating officer, Sify Technologies, has added, “Our focus on the government segment where we have been able to leverage our expertise in data centre design and development is beginning to bear results. Enterprise Connectivity too increased total managed bandwidth contracted to customers by more than 45 per cent during the year. On the consumer front, we are in the final phase of testing value added services for delivery across platforms: cyber cafes, broadband as well as Sify.com users.”

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close