Online edition of India's National Newspaper
Wednesday, Jan 18, 2006
Online edition of India's National Newspaper Wednesday, Jan 18, 2006 |
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Staff Correspondent
CHENNAI: Sify Limited (Nasdaq National Market: SIFY), the Internet, network and e-commerce services company, has reported revenues from sales and services of Rs. 119.10 crore for the third quarter, 27 per cent higher than in the same quarter ended December 31, 2004. The sequential growth in revenues over the previous quarter was 2.2 per cent and revenues from services grew by 6.4 per cent. R. Ramaraj, Managing Director and CEO, has stated in a release that Sify's net profit for the quarter under India GAAP was Rs. 7.26 crore, compared to a net loss of Rs. 8.20 crore for the third quarter in the previous financial year. Excluding one time income recognised during this quarter, the net profit is Rs. 1.31 crore. The results as per U.S. GAAP for the quarter show a net loss of Rs. 1.04 crore. Sify ended the quarter with a cash balance of over Rs. 100 crore. This excludes Rs. 165 crore of net proceeds received this month from strategic investor Infinity Capital Ventures, L.P.
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