Internet and e-commerce services provider Sify has reported a net loss of $1.27 million (Rs 5.15 crore) under US GAAP for the quarter ended June 30 compared with a net profit of $1.54 million in the corresponding quarter of the previous financial year. | |
| The company reported a net loss of $2.27 million in the previous quarter. The company's US GAAP revenues were $34.6 million for the quarter ended June 30 compared with $32.5 million in the same period of 2006, rising 6.5 per cent. The sequential growth in revenues over the previous quarter was 1.5 per cent. |
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| Net loss for the quarter was owing to provision for doubtful debts (PDD) on overdue amount carried on the books to the tune of $1.28 million during the quarter, an exchange loss of $0.4 million incurred on account of the rupee appreciation compared with exchange gain of $1.1 million in the same quarter of the previous financial year, according to a company statement. |
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| Cash profit for the quarter, in Adjusted EBITDA terms, was $1.66 million ($4.55 million). Sify ended the quarter with a cash balance of $46.7 million after capital expenditures of $6.71 million during the quarter. |
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| During the third quarter, the corporate services segment comprised a major chunk of revenues, contributing $21.9 million to its total revenue, followed by the retail internet access services segment contributing $10.2 million. The rest was contributed by the interactive services segment and other services. |
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