Sify On A Recovery Path; Online Gaming And E-Learning To Fuel Growth

Reuters: A nice story on how Sify Ltd is on its recovery path.

Sify, with $37 million cash due from a Silicon Valley investor (Raju Vegesna), is entering growth areas and sees its steady paring of losses paving the way to profit, its CEO R. Ramaraj said in an interview to Reuters. Sify expects an online role-play game aimed at students, e-learning services and remote data management from India for global clients to fuel growth, he said.

Sify had a net loss of $7 million on revenue of $82.2 million in the year to March 2005. Its loss fell to $1.4 million in the second quarter to September from $2.2 million a quarter before, and Ramaraj said profits had only been delayed by investment. “You can do the projection. You can see the trend,” he told Reuters, though he does not give guidance as growth is fast and hard to predict.

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