Q1
revenue grows 31%
Sify Limited (Nasdaq:
SIFY), India's premier Internet, network and e-Commerce
Services Company, announced its consolidated US
GAAP results for the quarter ended June 30, 2005.
Performance
highlights:
- Sify reported revenues of $23.5 mn for first quarter, 31% higher
than the quarter ended June 30, '04.
-
Sify's cash profit (in adjusted EBITDA terms)
for the quarter was $0.34 mn.
-
The net loss for the quarter was $2.26 mn, 12%
lower than the net loss for previous quarter.
-
The cash balance at the end of the quarter was
over $30 mn.
Mr. R
Ramaraj, Managing Director and CEO, said, "We
continue to grow our business, generate cash profits
from operations and reduce net loss, while investing
in bandwidth and capital expenditure to maximize
growth opportunities in a buoyant economy."
Mr. George Zacharias,
President & COO, said, "Our corporate
services continue to lead with significant new
customer wins, and repeat orders from existing
customers. We grew to 2700 iWays across 104 cities
with most offering broadband access speeds of
256 kbps per PC."
Enterprise Solutions
overview:
Enterprise Solutions
accounted for 53.9% of revenues during the quarter
New alliances &
partnerships during the quarter:
- Sify entered into
an alliance with Power Grid Corporation of India
Limited (PGCIL), which has a network of over 20,000
route km of fiber cable across India.
-
Sify's Enterprise Solutions business signed an
MOU with Novatel, a large provider of equipment
and solutions to the call centre industry, to
provide MPLS backbone connectivity for voice traffic.
-
To address the Sarbanes-Oxley Act of 2002 compliance
needs in the US, SifyAssure has partnered with
a major accounting firm in the US. SifyAssure
also established new partnerships in the Middle
East to address customers' security and network
consulting needs.
| New Business Wins |
- Significant new wins and repeat business
from many customers for corporate connectivity
services such as IP VPNs.
- Several Information Assurance and Compliance
assignments, as well as BS7799 and pre-compliance
consulting during the quarter.
- Prestigious orders in Applications
Services for messaging platforms, document
management, and an online registration
engine for a leading business school.
- Sify's Hosting division acquired a
number of new customers during the quarter.
"Netsourze", Sify Hosting's
latest service offering monitoring, maintenance,
and management services, secured new customers
for skilled services like Operating Systems
and DataBase Administration.
- Forum, Sify's supply chain management
solution, acquired new customers, including
TotalFinaElf in India and food products
major Bunge India. Forum commenced a unique
short-term supply chain consulting assignment
for GM Pens for benchmarking supply chain
process efficiencies.
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