Q2 Results: Sify Cuts Losses 37%; Portal Revenues Grow 22%

Sify.com: Sify Limited, announced today its consolidated US GAAP results for the quarter ended September 30, 2005.
Performance highlights:
— Sify reported revenues of $26.7 million for the second quarter, 36% higher than in the quarter ended September 30, 2004. The sequential growth in revenues over the previous quarter was 15%.
— Sify’s cash profit (in adjusted EBITDA terms) for the quarter was $1.23 million compared to $ 0.34 million in the preceding quarter.
— Sify’s net loss for the quarter was $1.40 million, 37% lower than the net loss for the previous quarter of $ 2.23 million.
— Sify ended the quarter with a cash balance of $26 million after Capex of about $ 4 million during the quarter.
George Zacharias, President & COO, said, “Our Portal revenues grew 22% sequentially, led by our fast growing broadband content portal www.Sifymax.in, while corporate revenues grew 16%. Sify’s presence in Broadband, Internet telephony, and Games continues to improve. Sify continues to be a clear leader in the Indian IP VPN market according to Frost & Sullivan. Our Adjusted EBITDA this quarter increased by nearly US$ 1 million, compared to the previous quarter.”
For full highlights click here.

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