TheStreet.com: Sify, the Internet and networking company, has reported a narrower-than-expected Q3 fiscal loss..it lost $230,000 in the quarter ended Dec. 31, compared with a loss of $2.1 million a year ago. Revenue rose 27% to $26.7 million.
The company announced its structuring into three strategic business units: enterprise services, access media and portals, which would be supported by the core technology group.
Release:
— Portals: Sify’s portals business will be headed by Surya Mantha who Joined Sify in August 2005. His last assignment was with Real Networks, where he held various senior roles with extensive experience in product management and marketing. For Q3, the unit had revenues of $1.07 million, up from $0.6 million a year ago.
— Access Media: This unit comprises of the 3100 strong iWay cyber cafe chain and the broadband access to home business. This will be headed by Shrikant P Joshi. The unit had revenues of $10.31 million in the latest quarter compared with $8.4 million a year ago.
— Enterprise Services: Sify’s Enterprise Services will be driven by Rahul Swarup who has been with Sify since 1999.
— Technology: Rustom Irani heads Sify’s Technology initiatives as its Chief technology officer since 1999.
Some other highlights:
— Online games at iWays and Sify Gamedromes: have displayed strong growth of approximately 50% from the previous quarter. In addition to more than a 1,000 iWays, games are also available in more than 200 Sify Gamedromes across the country.
— Sify Broadband Growth: Subscribers to Sify’s high speed / broadband Internet access to homes grew to around 150,000 with the service expanded to 83 cities.
— For portals, revenues grew approximately 17% on a sequential basis and 82% from the same quarter of last year, driven by advertisement and sponsorship revenues.
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