Nasdaq listed Indian Internet and IT company Sify Technologies has reported a net loss of $4.2 million for the quarter, and a loss of $16.85 million for the fiscal year ending 31st March 2009. For FY08, the company had reported a net profit of $0.5 Million.
Revenues have grown for Sify at $121.62 million for the year, over $117.88 million last year, but the consumer business continues to decline with 26% lower revenues as compared to last year.
On a brighter note, the enterprise business continued to grow; Raju Vegesna, Chairman and CEO & MD of Sify Technologies expects that the growth in the enterprise business going forwards will be led by demand for their data center and carrier voice services.
The company ended the year with a cash balance of $7.2 million.
Details: Release
Consumer Business
Sify.com
– Installed a new scalable content management system and delivery platform, leading to reduced costs on both content and people.
– Revamps: Bawarchi was revamped. While it’s not mentioned, Samachar.com, we think, has also been revamped.
– Sify Sports: streamed live International Cricket matches
– Stree: Sify launched an exclusive section for women in the last quarter, with sections on lifestyle, family, health, career tips, leisure, cookery tips, help and astrology.
Broadband:
– Trying To Retain Broadband Consumers: Sify offered consumers Rs. 1500 for timely renewals, which resulted in an improvement in on-time renewals and payment realization, with due date renewals scaling up by more than 10% in Jan soon after the offer was launched.
– New plans: Introduced “double speed @ night” product, offering users unlimited downloads all day long, and double the download speeds at night.
E-ports (cyber cafes):
– Tied up with National Internet Exchange of India (NIXI) to launch a certified course in the use of the Internet to educate people on how to use the Internet purposefully, priced at Rs 125.
– Rationalized the e-Port product portfolio to a mix of 11 products, new registrations and renewal combined.
— Monitoring and consolidating of cafes: Existing franchisees are being monitored, and those looking to open new cafes are being carefully screened. If proving unviable, cafes are being closed down.
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5 Comments until now.
Hi Nikhil, how much revenue did the portals contribute?
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They show consolidated revenues for the consumer business, so hard to tell. We've requested Sify for an interview, and will be sure to ask about that if we get an interview
Only 500 to 600 e ports are running all over India. In Maximum cases e port owners are using Parallel bandwidth. Sify wants to close his Consumer One Business, as company fired all major persons who all are running the Consumer One Business. First Name is Mr. Naresh Ajwani (Formerly – President for Consumer One), another one is Mr. Sharad Khanna (Formerly-DGM-E Port Operations). E port totally is a loss business and just like the STD-PCO chains. Now every one is using internet on his mobile so their is no use of cyber cafes.
They can increase the profit if they close more more departments. They already closed many sections. Jai Ho Sify dismissals. Ravindra Nath