Sify Technologies Limited (Nasdaq Global Markets: SIFY), a leader in Consumer Internet and Enterprise Services in India with global delivery capabilities, announced on Wednesday its consolidated US GAAP results for the second quarter ended 30th September 2007.
Sify reported revenues of $ 37.02 million for the 2nd quarter ended 30th September 07, 4.7% higher than the immediately preceding quarter, and 6.4% over the same period last fiscal.Sify’s Net Profit before exceptional items was $ 1.12 million as against $ 0.58 million in the previous quarter. Post exceptional items, the Net Loss for the quarter is $ 1.25 million as compared to the previous quarter’s Net Loss of $ 1.27 million.
“We have done well to accelerate our revenues in the enterprise segment where the business model and our team are now well set and beginning to yield results. We will continue to grow revenues with more aggressive marketing of these services going forwards. We have also initiated the integration of our consumer service lines and infrastructure to leverage synergies in this segment. I believe we will be able to see the results of these initiatives over the next two quarters. However, the full benefit of these efforts will be realized during the course of next year” Raju Vegesna, Board Chairman and CEO & MD, Sify, said.
Sify is among the largest Internet, network and e-Commerce services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common Internet backbone infrastructure. This Internet backbone reaches 236 cities and towns in India.