Indian Internet/Networking Company Sify Grew Revenue 31% in Q2 (SIFY)

| About: Sify Technologies (SIFY)

Indian networking/Internet company Sify (ticker: SIFY) provides corporate connectivity services and runs a franchise chain of Internet cafes. The majority of Sify's revenues come from its corporate business (54%), but its retail Internet business is growing faster (42% growth versus 26% growth). Here are brief details of SIFY's calendar Q2 results:

Q2 Results
(Note: all percentages are year-over-year unless stated otherwise)

  • Revenue up 31% to $23.5 million.
  • Revenue breakdown: Corporate Services up 26% to $12.66 million; accounted for 54% of total revenue. Retail Internet Services up 42% to $9.5 million; accounted for 40% of total revenue. Interactive Services up 54% to $0.77 million; accounted for 3% of total revenue. Other revenue down 10% to $0.54 million; accounted for 2% of total revenue.
  • Net loss was $2.26 million, 12% lower seqentially.
  • Cash profit (in adjusted EBITDA terms) was $0.34 million.
  • Cash balance at quarter end over $30 million.

Full press release here.

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Tagged: , Internet Service Providers, India
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