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Sify Q4FY12: Consumer Business Revenues Down 19.6% YoY; Enterprise Up 13.1%

Sify Technologies, the NASDAQ listed Indian Internet and IT firm, reported total revenues of Rs 186.3 crore for the quarter ended March 31st 2011, an year on year growth of 9.20%. The company’s  EBITDA was at Rs 14.5 crore in contrast with Rs 6.5 crore in the corresponding quarter of the previous year. The company reported a net loss of Rs 6 crore against a net loss of  Rs 10.8 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 160 crore. The segment witnessed a growth of 13.17% Year on Year. On the other hand, revenues from Commercial and consumer segment saw a decline.

Sify also reported annual results, clocking in revenues of Rs 774.2 crore in FY12, compared to revenues of Rs 688.6 in FY11. Its loss for the year was at Rs 32.7 crore compared to Rs 52 crore that it reported in the previous financial year.

Commercial & Consumer Business

Revenues: Sify’s consumer business still appears to be struggling and has reported a revenue of  Rs 9.8 crore, a YoY decrease of  19.67%. However, it’s slightly higher than the previous quarter. Raju Vegesna, Chairman & MD, said that the company will continue to invest in its managed services portfolio, which will be supported by the organic expansion of network and commissioning of two state-of-the-art Data Centers at Mumbai and Delhi, this Financial Year. The company intends to continually invest in expanding capacity and increasing presence in Tier II and III cities, as well as expanding fibre access in Tier I cities.

– As we reported earlier, Sify exited from its financial services affiliate, MFG Sify, selling its 29.85% stake, which is expected to be concluded in the near term after regulatory approvals. According to the company, the completion of the deal will result in substantial cash infusion into the company.

– According to Sify, the segment saw a number of new product launches in major cities, and the company added approximately 6000 new home customers in Q4.

– Its SMB customer base from multiple industries including Manufacturing, Dealers, professionals, cyber cafes and retail outlets saw growth. Tier II & III markets contributed 66% of the total (Full Year) sales to SMB business.

– Sify’s SMB sales team also won over 80 MPLS orders, ranging from 30 links to 200 links.

– www.sify.com tied-up with The Hindu for live webcasting of the Union Budget 2012.  The company claims that advertising revenue for grew significantly from the prior fiscal year, but did not disclose the break-up.

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


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