Sify reports net loss of $16.85 million

Sify Technologies Limited has reported a net loss of $16.85 million for the year ended March 31, 2009, as against a net profit of $ 0.50 million a year ago. Company’s revenue stood at $121.62 million compared to $117.8 million, an increase of three per cent compared to last year.

In 2008-09 the company’s spent $ 29 million on account of data centre expansion and the doubling of network reach over the first three quarters. Sify ended the year with a cash balance of $ 7.20 million after capital expenditures of $ 29 million during the year.

Sify’s domestic enterprise business has grown despite a slowdown in IT investments and consequently in services. The business registered a growth of 13 per cent over the previous year, said Raju Vegesna, Board Chairman and CEO & MD, Sify Technologies.

 

He added, company expects growth in the enterprise business going forwards led by demand for our data center and carrier voice services. Our international businesses also continue to grow by identifying opportunities in the current environment. Retail services, particularly access services, have proved a challenge in the past year, and we are consolidating our position going forwards”.