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Sify reports net loss of $2.09 million for 3Q 2010-11
Sify Technologies, a leader in enterprise and consumer internet services, has reported a net loss of $2.09 million for the third quarter ended December 31, 2010, as against a net profit of $9.25 million recorded for the corresponding quarter of the previous fiscal year.
Sify Technologies, a leader in enterprise and consumer internet services, has reported a net loss of $2.09 million for the third quarter ended December 31, 2010, as against a net profit of $9.25 million recorded for the corresponding quarter of the previous fiscal year. Revenues increased from $38.51 million posted for the December 2009 ended quarter to $38.72 million in the third quarter of the current fiscal year.
“Even though we have seen a sharp drop in bandwidth prices in the market, our enterprise business has shown resilience by taking a pro-active approach to protect margins,†Raju Vegesna, chairman and managing director, Sify Technologies, has said. “The consumer business is transiting to a more scalable model to support healthy revenues with emphasis on delivery of value added services on the cloud platform.â€
MP Vijay Kumar, chief financial officer, Sify Technologies, has said, “The promoters have in response to their subscription to the capital of $86 million, already infused capital of $21.7 million. The infusion of capital has improved our liquidity position and will help us to fund our data centre and network expansion. Consequent to the on-going changes in the consumer business model, we will review productivity of related assets.â€