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Sify Q1FY12: Consumer Business Revenues Down 30% YoY; Enterprise Up 40%

Sify Technologies, the NASDAQ listed Indian Internet and IT firm, reported total revenues of $50.73 million for the quarter ended June 30th 2011, an year on year growth of 31%. The company’s  EBITDA was at $2.80 million in contrast with $0.51 million in the corresponding quarter of the previous year. The company reported a net loss of $1.91 million against a net loss of  $4.05 million in the corresponding quarter last year. Out of all the business segments, the major chunk of revenue came from Enterprise, from which, the company earned close to $45 million. The segment witnessed a growth of 40% Year on Year. On the other hand, revenues from Commercial and consumer segment saw a decline.

Commercial & Consumer Business

Revenues: It’s consumer business still appears to be struggling and has reported a revenue of  $2.23 million, a YoY decrease of 30.74 %.

Cybercafes: Sify’s MyLife chain of retail broadband access points is nearing the 2,000 mark.

Portal: Sify.com witnessed a 36% growth in visitors.

Growth In User Base : Sify launched a new set of pre-paid broadband products and acquired Small Office/Home Office (SOHO) and Small and Medium Businesses (SMB) customers from multiple industries including Manufacturing, Dealers, Professionals, Cyber cafes and Retail outlets. The company registered an increase of 75% in user base over the last quarter. About 60% of the signups were from Tier 2 & Tier 3 cities

As we’d reported earlier, during the quarter, Sify tied up with Hungama Digital Media to offer coupons for purchasing music at Sify CyberCafes. Note that Sify makes no mention of the restructuring (or shutting down) of its SifyTripz business.

– eLearning: Sify has expanded its eLearning service in the Gulf countries and is providing International Computer Literacy Skills certification in the Middle East.

– Sify introduced a new version of its enterprise messaging platform, SLEMS 11.0, which now includes improvements over its previous version in collaboration functions like Calendar, Chat & Mobile Sync.

– Sify bagged a contract from the Government of India for developing a large Mission Mode Project, in addition to other new projects.

– Enterprise : Revenues from  internet have grown by 18%. The wholesale data carrier revenue grew by 25% from the previous quarter.

Download: Results (.doc)

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