Sify ends March quarter with $55 cash balance

Sify ended the March 2006 quarter with a cash balance of $55.27 million after capital expenditure of $6.7 million and the acquisition of US-based Globe Travels, during the fourth quarter.

Durga Mehta, chief financial officer, said in the last quarter Sify had invested in a new data centre in Bangalore to meet growing demand. "We also completed the acquisition of US-based Global Travels to enhance revenue earning opportunities for our portals and iWay Cyber Cafe chain," he added.