Sify Technologies, a provider of Enterprise Network and IT Services in India with global delivery capabilities, reported a net loss of $1.23 million in the quarter ended March 2011 compared to a net loss of $3.16 million for the quarter ended March 2010.

 

Sify reported revenues of $154.24 million for the year ended March 31, 2011, registering 2.6 percent growth from previous year’s revenues of $150.28 million.

Growth was driven by revenues from Enterprise services which grew 6.31 percent over the previous year and the International services revenues, which were higher by 29.9 percent.

The consumer business model is being gradually transformed into a scalable model. The realignment of the business has resulted in revenues dropping by 37.7 percent.

 

Net loss before tax for the year was $10.47 million, as against a net loss of $13.23 million in the previous year.

 

Capex during the year was $8.85 million. Cash balance at the end of the year was $6.41 million and undrawn line of credit of $3.47 million

 

We are pleased to present our annual financial performance for FY2010-11, anchored by satisfactory growth in the Enterprise and International Segments. When we changed course about four years back, directing our energies towards building a strong Enterprise business in the form of Networks and Data centers, and reducing our dependence on consumer markets, we re-cast the company into an Enterprise player and a scalable consumer player”,  said Raju Vegesna, chairman and CEO & MD, Sify.

 

At the same time, our ICT focus has helped to differentiate the Company from the commoditization trend in the Data Telecom markets. Our significant investment in NOIDA Data Center project as also our investments in EIG undersea cable and the landing-station for GBI undersea cable at Mumbai are all at an advanced stage of completion and will be on commercial mode in FY 2011-2012″, Vegesna added.

 

The company’s efforts have enabled it to become a focussed player in managed services, with a strong delivery team and a suite of services that we wish to transpose on the global stage; the expertise and the best practises we have developed over the years in India will now be the base to grow our Global practice.

 

Having consolidated the Enterprise Business, we have now put in a strategy to scale up its consumer business, enlarging the segment to include SMBs and SOHOs. Leveraging its Enterprise investments in providing Cloud computing infrastructure, it will deliver its consumer offerings through a retail cloud, serving SOHOs, SMBs and consumers, making the services more cost-effective and scalable.

 

By TelecomLead.com Team

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