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Sify Reports Revenues Of $ 37.10 Million For Second Quarter Of Fiscal Year 2011-12

Stocks in this article: SIFY

"Cash balance at the end of the quarter was US$ 20 million and undrawn line of credit stood at US$ 3 million."

FINANCIAL HIGHLIGHTS

Unaudited Consolidated income statement as per IFRS

(In $ million, all translated at $1 = Rs.48.93)

                 
Description   Quarter ended   Quarter ended   Quarter ended   Year ended
Sept Sept June March
    2011   2010   2011   2011
 
Enterprise 31.56 29.35 41.07 117.58
Software 3.59 2.95 3.18 12.41
Commercial and consumer 1.95   2.78   2.05   10.76  
Revenue 37.10   35.08   46.30   140.75  
 
Cost of Revenues (21.41 ) (21.54 ) (31.50 ) (86.03 )
 
Selling, General and Administrative Expenses (12.36 ) (12.44 ) (12.34 ) (49.90 )
       

EBITDA

3.33   1.10   2.46   4.82  
 

Depreciation and Amortisation expenses

(3.51 ) (3.54 ) (3.48 ) (14.05 )

 

Net Finance Expenses (1.48 ) (1.19 ) (1.37 ) (4.35 )
 
Other Income 0.00 0.42 0.08 1.49
 
Share of Affiliates 0.27 0.47 0.43 1.49
       
Profit / (loss) Before tax (1.39 ) (2.74 ) (1.88 ) (10.60 )
 
Income Taxes - - -
       
Profit / (loss) for the period (1.39 ) (2.74 ) (1.88 ) (10.60 )
 
Previous year figures are readjusted to reflect change in business organisation
 

As previously reported, Q1 ended June 30, 2011 included a US$ 9.4 million project executed for a large telecom company

BUSINESS HIGHLIGHTS:

Enterprise business

Network services

  • Network services registered a growth of 18% over last quarter in spite of strong pricing pressure
  • The International Voice business remains strong, with ILD voice registering about 704.5Mn minutes for the quarter.
  • The launch of our Audio conferencing services has enriched our suite of Voice service offerings to our Enterprise customers

IT Services

  • The Hosting business registered a 77% growth over previous quarter.
  • Our Cloud services has grown by 100% over same quarter last year
  • IT Security has grown by approximately 99% over previous quarter.

Commercial & Consumer services

  • Our SOHO/SMB signups have grown over 60% with more than 55% of new sign ups coming from Tier II and III towns.
  • Continuing the month-on-month growth since the re-launch of the Sify My-Life outlets, our retail presence now extends to approximately 2000 locations.
  • Launch of several initiatives including Health and Technology channels has resulted in Sify.com registering a YoY growth of 19% with unique or first time visitors totaling 3.02 million.

Sify Software services

  • Enterprise Applications Services grew by 14% over the previous quarter and 53% over the same quarter last year.
  • The eLearning business showed quarter on quarter growth, aided by new client wins as well as growth in existing customer accounts. We signed up 3 new large accounts across the globe, including one of the world’s largest pharmaceutical companies.
  • Our partnership initiatives include a tie-up with a leading US based learning and consulting solutions organization to launch a custom-learning mobile application
  • iTest grew by 58% over previous quarter. Our development pipeline includes an iTest platform for BPO/Govt. segment and version 11.0 for SLEMS for our Messaging offerings.

About Sify Technologies

Sify is among the largest Managed Enterprise, Network and IT Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 667 cities and towns in India. A significant part of the company’s revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications, voice and hosting. Sify is a recognized ISO 9001:2008 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions, and ISO / IEC 20000 - 1:2005 and ISO/IEC 27001:2005 certified for Internet Data Center operations. Sify has also established a credible reputation in the emerging Cloud Computing market and is today regarded as a thought leader in the domain. Sify has licenses to operate NLD (National Long Distance) and ILD (International Long Distance) services and also offers VoIP back haul to long distance subscriber telephony services. The company is India’s first enterprise managed services provider to launch a Security Operations Center (SOC) to deliver managed security services.

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