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Sify Swings to a Profit

Sales grow from a year earlier.
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Indian Internet company

Sify

(SIFY)

squeaked by with its first quarterly profit on Thursday, but the news failed to excite investors.

For the fourth quarter ended March 31, Sify made a profit of $470,000, compared with a $2.5 million loss in the same quarter a year ago.

The company's cash profit in adjusted EBITDA terms was $2.7 million for the quarter. For the fourth quarter 2005, the figure totaled $580,000.

Sales totaled $28.9 million, rising from $23.1 million from the same quarter last year.

Investors weren't impressed, however, and shares of the Chennai, India-based company sank 64 cents, or, 4.5%, to $13.64 in recent trading.

Sify is one of the

few Indian Internet stocks trading in the U.S. markets, but in contrast to its portal competitor

Rediff

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--- nicknamed the Indian

Google

(GOOG)

-- Sify runs a patchwork of other services, including a chain of cybercafes called iWays across 153 cities in India, broadband home access and enterprise technology services.