SIFY's revenue up

By Our Special Correspondent

CHENNAI, FEB. 1. Satyam Infoway (SIFY in Nasdaq parlance) today reported a top line revenue of $10.09 million for the quarter ended December 2000, up from $9.31 million in the previous quarter. For the third quarter ended December 1999, SIFY had reported a revenue of $3.95 million.

The company's loss before interest, depreciation, amortisation and tax (negative cash earnings) has risen to $8.50 million in the third quarter from $ 4.98 million in the previous quarter. For the third quarter of 1999, it had reported a loss of $700,000

For the nine-month ended December 2000, SIFY has shown a revenue of $26.28 million and a cash loss of $16.12 million. For the entire 1999-2000, it had announced a revenue of $8.43 million and a cash loss of $1.97 million.

According to Mr. T. R. Santhanakrishnan, Chief Financial Officer, 27 per cent of the total cash losses in the third quarter was attributable to SIFY's subsidiaries/ affiliates ``which are in a pre-revenue stage of growth''.

Revenue from corporate services has gone up to $7.46 million in the third quarter from $5.77 million in the previous quarter. These were $1.65 million in the third quarter of 1999-2000. For the nine-month period this year, the revenue from this segment is placed at $16.70 million as against $3.56 million reported for the entire 1999-2000. The revenue from Internet access and portal business has, in fact, shown a dip in the third quarter as compared to the previous quarter.

Mr. George Zacharias, Chief Operating Officer, said the speed with which corporates were accepting Internet ``is amazing''. ``We have not even scratched the surface in this segment,'' he said, pointing to huge business opportunities in corporate services.

Send this article to Friends by E-Mail

Section  : Business
Previous : Sensex down 41 points on distress selling
Next     : IOB to augment Tier II capital