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Sify Consumer Biz Revenues Down 35% YoY; ePorts, Subscribers Decline

At $18.71 million, Sify's consumer business accounted for only 11% of its total revenues of $156.93 for the 2009-10 fiscal, declining year on year by as much as 35% from $28.92 million. For the quarter ended March 31st 2010, Sify's consumer business reported revenues of $3.5 million, as opposed to $6.03 million a for the corresponding period last year. All performance indicators (see two years of data in a table below) show that Sify has not been able to turn around its consumer business; I think they should have tried to sell it long ago. On a positive note, the company reported Net Profit for the year was $1.01 million as against a Net Loss of $18.87 million in the previous year, though that was due to a one-time realization from "legal matters" under other income of $12.66 million during the third Quarter. While Sify has declined comment on it, citing to us confidentiality agreement, we believe this is due to an out-of-court settlement of its case with Yahoo India. While Sify's enterprise business continues to grow well, the consumer business, which we focus on, appears to be struggling to stop its decline. Modeled initially on AOL, Sify has evolved, over the past couple of years, into primarily an enterprise services business. It's consumer business comprises of Portals (Sify.com, samachar.com etc), broadband services and cybercafes (e-ports). Portals During the quarter, Sify launched Samachar.com on mobile, aggregating content from newspapers, magazines and websites; I guess it wouldn't be very different from…

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Written By

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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