Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Sify Tech Q3 revenues up 4 percent at $32.87 Million
By siliconindia
|
Saturday, 24 January 2009, 03:07 IST
Bangalore: Indian consumer Internet and enterprise services firm Sify Technologies has reported a year-on-year (YoY) increase of four percent in its total revenue at $32.87 million for the third quarter (Q3) FY09 ended December 31st. The enterprise business registered YOY growth at 13 percent and a quarter on quarter (QoQ) increase of 2 percent, while the consumer business' revenues were 11 percent lower than the previous quarter. The international business ended with QoQ increase of nine percent.
"Overall, we expect the enterprise business to continue to grow, but at a reduced pace in future. We expanded the availability of our consumer services on the back of our network expansion during the quarter," said Raju Vegesna, Board Chairman, CEO and Managing Director, Sify Technologies. Net loss for the quarter under review was $5.03 million as against a net profit of $0.83 million in the same quarter in the previous year. Additional expenses incurred during the quarter were on account of data centre expansion and the doubling of network reach over the last three quarters. This also increases current operating costs, whereas revenues will take time to scale across all the newly established locations. Sify ended the quarter with a cash balance of $1.01 million after capital expenditures of $ 5.31 million during the quarter.
Tracing the lines on enterprise business, CVS Suri, Chief Operating Officer (COO), Sify asserted the importance of VoIP carrier services which they expect to be the base for the company to run through the tough times. Revenues during the quarter were from new engagements from existing clients, as well as new business across connectivity, hosting and applications.