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Q1-10: Sify Losses Reduce; Consumer Revenues Down 30.82%; Samachar.com Mobile

No comments from Nasdaq listed Indian Internet and IT company Sify Technologies on the long pending settlement with Yahoo: company officials, responding to a question on their earnings conference call, said that the matter is still under consideration, and declined comment. Sify had filed a suit (case no: 1-06-CV-076671) against Yahoo in the Superior Court of California, County of Santa Clara on 18th of December 2006. Sify also declined to comment on whether the company is likely to break even by the end of the year. Sify has reported revenues of $34.54 million, up 8.7 percent quarter on quarter, and 10 percent year on year, largely on an improvement in the performance of its enterprise business. On the consumer business front, the company reported revenues 30.82 percent lower year on year. The company reported a significantly lower loss of $1.34 million, as compared to $5.36 million reported last quarter, and $2.77 million reported in Q1-09. The company expects portal revenues to grow, and suggest that video ads have been a success. Cybercafe revenues have stabilized Details: Release Following an order from the High Court of Madras on July 1, 2009, approving the merger Sify has merged its subsidiary Sify Communications into the company, and says that the loss includes a "one-time beneficial tax adjustment of $ 1.88 million" on that account. CMD Raju Vegesna has said in a statement that there are signs on improvement in the online advertising front "and this should reflect in our performance going forwards. Our initiatives to…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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