Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Managed Enterprise, Network and ICT Services in India with growing global delivery capabilities , today announced its consolidated results under International Financial Reporting Standards (IFRS) for the third quarter of fiscal year 2011-12.
Performance Highlights Q 3 FY 11-12:
- Revenues for the quarter ended December 31, 2011 was INR 1805 million.
- Revenue from Enterprise services was at INR 1526 million, up approximately 5% and from Software services was INR 182 million, up approximately 16% over same quarter last year.
- Revenue from Commercial and Consumer services was INR 97 million for the third quarter.
- EBITDA for the quarter increased to INR 136 million, as compared to INR 93 million in the same quarter previous year.
- Net loss for the quarter reduced to INR 73 million, as against a net loss of INR 96 million in the same quarter previous year.
- Capex during the quarter was INR 225 million. Cash balance at the end of the quarter was INR 658 million and undrawn line of credit stood at INR 335 million.
Mr. Raju Vegesna, Chairman & MD, said, “We are pleased to present our financial performance for the third quarter of FY 2011-12 against the backdrop of reaching an important milestone towards becoming India’s premier ICT player.
“Our Cable landing Station in Mumbai is ready for operations, making Sify the first ICT company in India to own a cable landing station for international submarine cable systems. With the opening of this landing station, Gulf Bridge International (GBI) became the first to land their sub-sea cable system in India.“Sify also signed a Landing Party Agreement (LPA) with MENA Submarine Cable System S.A.E, a licensed telecommunications operator in Egypt. This Cable Landing Station positions Sify well for the growing opportunities for ICT and cloud services across the world.