Nasdaq-listed Sify Ltd posted a net profit of Rs 5.67 crore in Q4 FY06 under India GAAP as compared to a net loss of Rs 12.6 crore for the Q4 in the previous financial year. Revenues from sales and services touched Rs 126.8 crore in Q4, 24 per cent higher than in the same quarter ended March 31, 2005. The sequential growth in revenues over the previous quarter was 6.4 per cent.
Sify reported revenues of Rs 463.9 crore from sales and services for the fiscal year ended March 31, 2006, 30 per cent higher than the previous fiscal year.
R Ramaraj, Managing Director and CEO, Sify, said, “We are pleased to report a net profit of Rs 5.67 crore for the fourth quarter with consistent growth across businesses. Initiatives in our portals business during the year resulted in revenue growth of 74 per cent over the previous year. We continue to lead the market for infrastructure-managed services such as VPNs, and have established leadership in the broadband access to home segment. The iWay cyber café chain continues to grow, with over one million subscribers using the 3300 iWay cyber cafes across 153 cities in the last quarter.”
“Sify is well positioned to continue growth across all our businesses in a nascent Internet and 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,” he added.
Durgesh Mehta, Chief Financial Officer, Sify, said, “We have consistently invested in growth with the belief that this will lead to sustained revenue growth, market leadership and profitability, and are now beginning to see the benefits of this strategy. The markets in India continue to hold great potential for growth, as does our international services in the infrastructure management and security space. Our intention is to continue to invest in these opportunities to build the value of the company and maximise stakeholder value.”