Sify Limited, has announced its India GAAP results for the fourth quarter and fiscal year ending 31st March 2006. Revenues grew 30% Year over Year to Rs 464 Crores.

• Sify reported revenues from sales and service of Rs 126.8 crores for the fourth quarter, 24% higher than in the same quarter ended 31 March 2005. The sequential growth in revenues over the previous quarter was 6.4%.
  
• Sify's net profit for the quarter under India GAAP was Rs 5.67 Crores, compared to a net loss of Rs 12.6 Crores for the fourth quarter in the previous financial year. The net profit for the immediately preceding quarter was Rs 1.31 Crore, excluding one time income of Rs 5.95 Crores that was recognized during that quarter. The results as per US GAAP for the fourth quarter show a net profit of Rs 2.09 Crores.
  
• Sify ended the quarter with a cash balance of over Rs 269 Crores.

Mr.R.Ramaraj, Managing Director and CEO, said "we are pleased to report a net profit of Rs 5.67 Crores for the fourth quarter with consistent growth across businesses. Initiatives in our portals business during the year resulted in revenue growth of 74% over the previous year. We continue to lead the market for infrastructure-managed services such as VPN's, and have established leadership in the broadband access to home segment. The iWay cyber cafe chain continues to grow, with over one million subscribers using the 3300 iWay cyber cafe across 153 cities in the last quarter".

"Sify is well positioned to continue growth across all our businesses in a nascent Internet & network services market in India, cutting edge IP expertise, and the active involvement of our majority stakeholder in accelerating our growth with international relationships and alliances".