Sify reported revenues of $50.73 million for the quarter ended June 30, 2011, about 31 percent higher than the corresponding quarter of previous year
Growth was driven by revenues from enterprise services which grew 40 percent over the corresponding quarter previous year: this included a $10.3 million project executed for a large telecom company.
EBITDA for the quarter increased to $2.80 million, as compared to $0.51 million in the corresponding quarter previous year.
Net loss before tax for the quarter was $1.91 million, as against a net loss of $4.05 million in the corresponding quarter previous year.
Capex during the quarter was $1.68 million. Cash balance at the end of the quarter was $14.99 million and undrawn line of credit of $ 3.25 million.
Our initiative to focus on Sify software as a separate organisation supporting several application services to carrier, enterprise and small business customers is seeing acceptance and gaining good traction. We believe the service offerings from Sify software will help us realize our vision of transforming from an internal support function to a significant independent revenue maker for the company,” said Raju Vegesna, Board chairman and CEO & MD.
Projects executed for the Indian government have established its reputation as a company that is capable of delivering government projects within the stipulated time. Sify is now on stream to hand over three State Data Centres.
Post its reorientation towards becoming self sustaining and profitable, the Commercial and Consumer business is beginning to see accelerated growth in the new segments we are focusing on, particularly with the fast-growing SMB and SOHO markets in its ambi
Its Cloud computing infrastructure, one of the first public cloud services offered in India, will emerge as unified platform for customers from retail, SOHOs, SMBs and Enterprise, making the services more cost-effective and scalable.
The Government of India’s move to classify the proposed fibre-optic network as a national resource and make it available on equal terms to all operators wishing to provide broadband services will lead to a more level playing field for Sif
It will also allow Sify to further leverage its investments to deliver value-added services to customers across India. We are ideally positioned to ride the IT services wave in India with our network coverage, data centres footprint across metros and small cities, home-grown applications delivered on the cloud model and our international bandwidth capacity.
By Telecomlead.com Team