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Sify Sinks Despite Profit

Shares fall.

Sify

(SIFY) - Get Sify Technologies Limited Sponsored ADR Report

, the India-based Internet and networking company, swung to a profit in the second-quarter.

Sify earned $1.49 million, or 3 cents per American depositary receipt, in the quarter ended Sept. 30, compared with a loss of $1.34 million, or 4 cents per ADR, a year ago. Revenue rose 17.9% to $30.10 million. Analysts polled by Thomson First Call were forecasting earnings of 3 cents per ADR on sales of $30.45 million in the second quarter.

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By segment, Sify's enterprise services division had revenue of $17.16 million in the latest quarter compared with $13.89 million a year ago. Access media revenue rose 6.5% to $10.59 million in the quarter.

The company's gross margin for the quarter was 48.9 %, up from 43.8% in the previous year.

"Our objective will be to continue to lead the market in our key lines of businesses, but we will also explore revenue growth opportunities and better cost management across businesses enabled by a more unified strategic approach," the company said.

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