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Nasdaq-listed Sify Technologies’ reported its Q2 FY09 results today showing a net loss of $ 5.32 mn compared to net loss of $ 0.83 mn in the…

Nasdaq-listed Sify Technologies’ reported its Q2 FY09 results today showing a net loss of $ 5.32 mn compared to net loss of $ 0.83 mn in the same quarter in the previous year. The company’s revenues increased by 9% to $34.4 mn in Q2 this year over the same period last year. It’s also 6% increase over the revenues of previous quarter of this year.

The ARPU of broadband subscribers, which fell last quarter to Rs 316, showed a further decline to Rs 305 this quarter too.

Even for FY08, Sify just managed to report a profit of $0.12 million, as compared to $6.25 million profits for FY07. Sify’s B2C revenues this quarter showed a decline of 7% over the previous quarter, while B2B segment registered a growth of 13% over the previous quarter.

Sify has been restructuring its consumer business and has re-launched it’s chain of retail outlets to smaller formats for wider distribution and reach. With the entry of MTNL, BSNL, Airtel and Reliance Communications into broadband space and slowdown in growth of cybercafes, Sify is now tapping the rural markets.

The firm has also expanded its services to 32 new cities across India with 67 e-ports & 21 new broadband partners The network now reached to 524 cities. Sify also converted 77 local mom and pop cyber cafes into sify e-ports.

In other developments, Sify has launched a new data centre at Mumbai. In this quarter, Sify has launched a new email service in alliance with Google (NSDQ: GOOG) on their portal, and VoIP carrier services for the back haul of voice traffic over Sify’s network for telecom companies. It has also launched gaming portal called Antzill.

This story was provided by our content partner VCCircle

  1. The loss means trouble ahead for Sify Technologies.This is very bad for the company.The company has to undergo some reorganizing to make it profitable again.Wish good luck then

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