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Sify Q3FY12: Consumer Business Revenues Down 21% YoY; Enterprise Up 5%

Sify Technologies, the NASDAQ listed Indian Internet and IT firm, reported total revenues of Rs 180.5 crore for the quarter ended December 31st 2011, an year on year growth of 4%. The company’s  EBITDA was at Rs 13.6 crore in contrast with Rs 9.3 crore in the corresponding quarter of the previous year. The company reported a net loss of Rs 7.3 crore against a net loss of  Rs 9.6 crore 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 Rs 152.6 crore. The segment witnessed a growth of 4.9% Year on Year. On the other hand, revenues from Commercial and consumer segment saw a decline.

Commercial & Consumer Business

Revenues: Sify’s consumer business still appears to be struggling and has reported a revenue of  Rs 9.7 crore, a YoY decrease of  21%. However, it’s slightly higher than the previous quarter. Raju Vegesna, Chairman & MD, said that most of the growth in the segment was coming from Tier II and III cities, as intended.  The company sees an opportunity in the government sector with the Central and State governments working towards digitizing existing records, building a central storage repository and increasing connectivity.

– According to the company, its SMB customer base from multiple industries including Manufacturing, Dealers, professionals and retail outlets has grown by over 78% Year To Date.

– During the quarter, Sify launched Sify mystorage, a cloud-based automatic storage and backup solution.

– The company claims that Sify Sports ( www.sports.sify.com ) is now among the top 5 sports sites in the country. Sify Finance ( www.finance.sify.com ) introduced sections on Commodities, Silver and Currency.

 Sify did not elaborate on other aspects such as cybercafes, and broadband connections.




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