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Sify's revenue continues to scale up

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Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Managed Enterprise, Network and IT Services in India with growing global delivery capabilities, today announced its consolidated results under International Financial Reporting Standards (IFRS) for the first quarter of fiscal year 2011-12.

Sify reported revenues of US $50.73 million for the quarter ended June 30, 2011, abo



t 31% higher than the corresponding quarter of previous year.

Growth was driven by revenues from Enterprise services which grew 40% over the corresponding quarter previous year: this included a US $10.3 million project executed for a large telecom company.

EBITDA for the quarter increased to US $ 2.80 million, as compared to US $ 0.51 million in the corresponding quarter previous year.

Net loss before tax for the quarter was US $ 1.91 million, as against a net loss of US $ 4.05 million in the corresponding quarter previous year.

Capex during the quarter was US $ 1.68 million. Cash balance at the end of the quarter was US $ 14.99 million and undrawn line of credit of US $ 3.25 million

Mr. Raju Vegesna, Board Chairman and CEO & MD, said, “It gives me great pleasure to report that our recast business structure is beginning to show results. The unbundling of our broad service portfolio and making them available across all customer segments has increased the flexibility and scalability of our business.

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.

Projects executed for the Indian government have established our reputation as a company that is capable of delivering government projects within the stipulated time. We are now on stream to hand over three State Data Centres.




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.

Projects executed for the Indian government have established our reputation as a company that is capable of delivering government projects within the stipulated time. We are 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 ambit. Our 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 Sify. It will also allow us to further leverage our 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.”

Mr. MP Vijay Kumar, Chief Financial Officer, said, “We are now in the process of building additional capacity through our Data Centre build plan, Network expansion and new development plans for Sify Software.  The new investments will add to the existing portfolio of our Network presence in 667 cities, 6 Data centres, millions of hours in skilled manpower across different business verticals and an appreciating investment in a financial services entity.

As revenue continues to scale, we expect the anticipated benefits of these investments to be realized on both the top and bottom line.”








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