Earnings: Sify In Loses In Q2; Integrates Consumer Businesses

Sify, which is traded on Nasdaq, reported its Q2 numbers today, and reported a loss in the quarter. Net loss was $1.3 million down from a profit of $1.5 million in the year ago quarter. Revenues were $34.6 million, up from $32.5 million in the year-ago period. The company said results were hurt by a charge related to overdue debts and a loss on the exchange of the rupee against the dollar. Separately, the company has named Arvind Mathur as its chief architect of global services, and appointed Ananda Raju Vegesna as an executive director on its board.

Some other highlights:
— Sify ended the quarter with a cash balance of $ 46.7 million after capital expenditures of $ 6.71 million during the quarter.
— Enterprise services contributes 60.5% of Sify’s revenues
— International business contributes 7.0% of Sify’s revenues
— Consumer services (which includes Sify.com) contributes 32.6% of Sify’s revenues.
— The company has integrated its iWays cafes, broadband to home, and portals into a single consumer business, with the idea to leverage one into the other. This was done over Q2, with Naresh Ajwani leading the broadband to home and cyber cafes, and V Sivaramakrishnan heading the online content, ecommerce and marketing initiatives.
— The portal itself contributes 3.1% of Sify’s revenues.

More details in release.

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