Sify posts $1.65M net in Q3-06
By agencies   |   Wednesday, 18 January 2006, 20:30 IST
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CHENNAI: Sify Ltd, the Chennai-based network and e-Commerce Services Company, has reported a net profit of $1.65 million on sales and services of $27.06 million for the third quarter ended on December 31. The company had reported a net loss of $25.15 million on sales and services of $21.29 million for the corresponding quarter last year. The Nasdaq-listed company ended the quarter with a cash balance of over $22.72 million. This excludes the $37.5 million of net proceeds received from Infinity Capital Ventures, L.P, according to the company statement. The company’s Managing Director and CEO, R Ramaraj said, “Sify planned to take its service delivery business model globally. We will do this by leveraging our expertise, infrastructure and leadership position for both consumer businesses and enterprise services, in addition to growing them in India.”

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