Welcome!

@CloudExpo Authors: Liz McMillan, Scott Allen, Pat Romanski, Elizabeth White, Jamie Maidson

News Feed Item

Sify Technologies Posts Revenues $121.62 Million for 08-09

CHENNAI, India, April 24 /PRNewswire/ -- Sify Technologies Limited (Nasdaq National Markets: SIFY), a leader in Enterprise and Consumer Internet Services in India with global delivery capabilities, announced today its consolidated unaudited results under the International Financial Reporting Standards (IFRS) for the fiscal year ended 31st March 2009.

Performance Highlights FY 2008-09 (Unaudited)

    
    - Sify reported revenues of $ 121.62 million for the year
      ended 31st March 2009, 3 % higher than the previous year's revenue of $
      117.88 million.

    - The Enterprise business registered growth of 13% over the
      previous year, while the consumer business' revenues were 26 % lower 
      than the previous year. The international business ended the year with 
      an increase of 29 % over the previous year.

    - Net Loss for the year was $ 16.85 million as against a Net
      Profit of $ 0.50 million in the previous year.

    - Capex during the year was $ 29 million on account of data
      centre expansion and the doubling of network reach over the first 
      three quarters. This also increases current operating costs, whereas 
      revenues will take time to scale across all the newly established 
      locations.

    - Sify ended the year with a cash balance of $ 7.20 million
      after capital expenditures of $ 29 million during the year.

Mr. Raju Vegesna, Board Chairman and CEO & MD, Sify Technologies, said, "Sify's domestic enterprise business has grown despite a slowdown in IT investments and consequently in services. However, we expect continued growth in the enterprise business going forwards led by demand for our data center and carrier voice services. Our international businesses also continue to grow by identifying opportunities in the current environment. Retail services, particularly access services, have proved a challenge in the past year, and we are consolidating our position going forwards".

Mr CVS Suri, Chief Operating Officer, Sify, said, "Our enterprise services drove Sify's growth with a larger percentage share of total revenues last year. We expect VoIP carrier services and our Data Center services to be the growth drivers for the enterprise business going forwards. We continue to expect growth across all businesses including connectivity, security and application services. Revenues during the year were from both new customer engagements and enhanced requirements from existing customers. Our international businesses have grown, and will continue to grow, by focusing on opportunities in identified verticals of business and industry. On the consumer front, the access business has been a challenge, and this is being addressed with rationalization of product portfolios based on consumer demand, as well as focusing on services in cities where we are well represented. Our interactive services capability was enhanced with a new content management system that is multi-media capable, and allows for greater efficiencies, flexibility, scalability and user interactivity. New initiatives for video content across entertainment, sports and lifestyle areas such as cookery saw us gaining new users during the year".

Mr. MP Vijay Kumar, Chief Financial Officer, Sify, said, "During the year we have focused on greater efficiencies and consolidation to enable us to expand infrastructure to capitalize on future opportunities while running a lean organization. We have also ensured adequate funding for growth, both in terms of debt as well as capital recovery, by scaling back on earlier investments in facilities. This is reflected in our cash position at the end of the last financial year, while the SG&A for the year reflects increased costs incurred for expansion of infrastructure. We continue to review costs on an ongoing basis, across infrastructure, operations and people costs, to return to profitability despite the challenging environment".

    
    Unaudited Consolidated income statement as per IFRS
    ( In $ million, all translated at $1 = Rs.50.95)


    Description                       Year ended    Quarter Ended

                                            31st March
                                      2009    2008       2009

    Enterprise                       85.18   75.02         22.30
    Consumer                         25.62   34.46          5.35
    Others                           10.82    8.40          2.68
    Revenue                         121.62  117.88         30.33
    Cost of Revenues                (71.11) (66.53)       (18.19)
    Other Income                      1.75    0.91          0.56
    Stock Compensation expenses      (0.62)  (1.11)        (0.12)
    Depreciation and Amortisation 
    expenses                        (10.21)  (7.74)        (2.84)
    Selling, General and 
    Administrative Expenses         (54.60) (47.25)       (12.72)
    Net Finance Income               (2.47)   2.04         (1.04)
    Share of Affiliates               0.97    3.55          0.15
    Profit Before tax               (14.66)   1.76         (3.87)
    Income Taxes                     (2.19)  (1.26)        (0.33)
    Profit for the year             (16.85)   0.50         (4.20)
 
    Profit attributable to:
    Owners of the parent            (17.86)  (0.09)        (4.30)
    Non-controlling interests         1.02    0.59          0.10
 
    Non Financial Indicators
    e Port

    Subscribers active                 490     718           490
    No of e Ports (Operational)      1,791   2,165         1,791
    E ports Additions (Gross)          367     513            41
    No of Cities                       249     180           249

    Broadband

    Subscribers (in 000's)             165     219           165
    No of CTOs                       2,011   1,966         2,011
    ARPU                               305     336           291

    Technology

    No of PoPs                         547     481           547

Business Highlights:

ENTERPRISE SERVICES

Sify is now fully operational as a long distance operator for wholesale voice with a steady increase in business. We are using our IP expertise effectively in offering and managing these services.

Significant wins for data centre services were from the General Insurance Corporation, State Bank of India and Vishal Retail. Connectivity engagements were signed with Canpack, HDFC SLIC and Indian Overseas Bank.

Application services were signed with the Indian Institute of Banking & Finance and ICICI Prudential. While managed voice contracts were gained from Cobwell & Salmon and Cleaves Global.

Government investments in eGovernance and services, Public Sector Enterprises investing in IT, enablement and rural banks and co-operatives are driving demand for enterprise services in the current environment. Public Sector Banks are continuing to invest in IT to gain efficiencies and improve customer services.

International services:

Infrastructure management services:

Infrastructure management services are seeing fresh traction in the western markets in the current environment. This has resulted in queries and an increase in our engagements with existing customers.

Consequently the sales force in the US has been strengthened to meet this opportunity. Lead times, however, are longer as decision making is now more layered. Interest is from across verticals including finance, high tech, manufacturing and others.

eLearning services:

Sify eLearning continues to identify opportunities in the current environment for its services. While there is increasing pressure on price or added value, our focus has been on efficiencies in delivery to protect margins. We are also ensuring skill sets to meet with the evolving requirements of the eLearning space. We also launched Learning Infrastructure on a Services Model as a new service offering in the last quarter.

Among the awarded contracts, some of the notable wins were from customers such as a global leader in Business Intelligence Products and Services, a Global Investment Management organization, and our being empanelled as a preferred vendor by a Canadian City Municipal Agency.

CONSUMER SERVICES

Access media services

Broadband to home:

Consumer offer to promote timely renewals: The offer of winning Rs 1500 on timely renewals was promoted through web pop-ups, text messages to customers, telemarketing and through the website. There was a significant Improvement in on-time renewals and payment realization, with due date renewals scaling up by more than 10% in Jan soon after the offer was launched.

Launch of "double speed @ night" product: The launch of the 64 kbps (Day) 128 kbps (Night) Unlimited plan, Sify Broadband completed its unique "double speed @ night" product range. There are now three plans in this range offering differing speeds, but double the download speeds at night and unlimited downloads all day long. Customers who do basic tasks during the day that do not require high speeds, but heavy downloads at night find these packages very attractive and affordable.

e-port cyber cafes:

Internet Learning Program at Sify e-Ports: Sify tied up with the National Internet Exchange of India (NIXI) to launch a certified course in the use of the Internet to educate people on how to use the Internet purposefully. The objective of this program is to spread Internet awareness and usage, particularly in tier-II and III cities of India.

The ten-hour course at just Rs 125/- is aimed at people who do not have access to personal computers at home and is available at Sify e-Ports across the country with content developed by Sify. On completion of the course, participants get a certificate jointly issued by Sify and NIXI. The certificates are signed by the Secretary, Department of Information Technology (DIT).

Rationalization of the e-Port product portfolio: A standardized set of products across all e-Ports is now available with an extensive rationalization of the range to arrive at a mix of 11 products, new registrations and renewal combined. These products cater to varied requirements of customers, be it with respect to pricing, validity or value for money.

Consolidation of cafes in existing locations: Potential franchisees to start e-Ports in existing cities are being carefully screened before opening new cafes. Existing cafes are also being monitored on multiple parameters, including the involvement & interest of the franchisee and viability of the location in a dynamic urban environment. If proving unviable, these cafes are being closed down.

Interactive services:

Improvement of the content management system and delivery platform has resulted in greater automation and reduced costs for both content and people. The automated content management system also allows for greater flexibility and scalability going forwards. It also is multi-media capable and enables greater focus on user related features.

Sify.com continues to enhance its capabilities and content with alliances with companies such as Google, World Wrestling Entertainment (WWE), Sony Entertainment Television, Zee TV and others to offer compelling entertainment and sports content including video content. This is resulting in new users coming in for the rich media content that they can enjoy on Sify.com.

Sify.com revamped its internationally popular food channel 'Bawarchi' (http://food.sify.com/) to enhance it with multi-media capabilities and to make it more contemporary and user friendly. The revamped Bawarchi continues to offer the best of Indian cooking to an international audience with enhanced features that include videos and tools for greater user interactivity.

Sify sports (http://sify.com/sports/) started live streaming of international cricket matches, including the India - New Zealand, Australia- South Africa, and West Indies - England series. This has met with a very encouraging response from users as Sify was the only portal in India to offer this facility. It also proved of increasing interest to advertisers.

Sify.com tied up with Zee Television while continuing its relationship with Sony Entertainment Television to bring popular reality shows Dance India Dance (http://danceindiadance.sify.com/ ) and Jhalak dikhhla jaa (http://jhalakdikhhlajaa.sify.com/ ) to online audiences. The highly popular sites offer fans interactive tools, community features, videos, gallery, show recaps, message boards and expert diaries.

The newly introduced Sifymail WIYI (World In Your Inbox) has met with an encouraging response with growing numbers of users subscribing per day. The feedback regarding the widgets that enable users to personalize their inbox to become their veritable home page on the Internet has also been very positive.

Games (http://games.sify.com ) continued to grow in number of users with the recently launched Antzill range of games gaining traction. The site has also been widely reviewed and written about which has helped attract many new users.

Stree, an exclusive section for the contemporary woman was launched (http://sify.com/news/women ) during the last quarter. The special channel includes sections on lifestyle, family, health, career tips, leisure, cookery tips, help and astrology.

About Sify

Sify is among the largest Managed Enterprise and Consumer Internet Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching 500+ cities and towns in India.

A significant part of the company's revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications and hosting. Sify is recognized as an ISO 9001:2000 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions, and ISO 27001 certified for Internet Data Center operations. Sify has licenses to operate NLD (National Long Distance) and ILD (International Long Distance) services and offers VoIP back haul to long distance subscriber telephony services. The company is India's first enterprise managed services provider to launch a Security Operations Center (SOC) to deliver managed security services. A host of blue chip customers use Sify's corporate service offerings.

Consumer services include broadband home access, dial up connectivity and the e-port cybercafé chain across 249 cities and towns. Sify.com the consumer portal of Sify has sub portals like http://www.samachar.com, http://www.walletwatch.com, http://www.sifymax.com and http://www.chennailive.in, http://www.bangalorelive.in, http://www.mumbailive.in, http://www.hyderabadlive.in the city based live video on the web. The content is available in 5 Indian languages, which include Hindi, Malayalam, Telugu, Kannada and Tamil.

For more information about Sify visit http://www.sifycorp.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.

For a discussion of the risks associated with Sify's business, please see the discussion under the caption "Risks Related to Our Business" in the company's report on Form 6-K for the quarter ended September 30, 2008, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at http://www.sec.gov.

    
    Contact information:
    
    Sify Technologies Limited   
    Mr. David Appasamy          
    Investor Relations          
    +91-44-2254-0770 Ext. 2013                           
    [email protected] 

    Grayling Global
    Investor Relations:
    Ms. Trúc N. Nguyen (ext. 418) or
    Mr. Christopher Chu (ext. 426)
    +1-646-284-9400
    [email protected] or
    [email protected]

    Media Relations:
    Ms. Stacy Dimakakos
    +1-646-284-9417
    [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
IoT generates lots of temporal data. But how do you unlock its value? How do you coordinate the diverse moving parts that must come together when developing your IoT product? What are the key challenges addressed by Data as a Service? How does cloud computing underlie and connect the notions of Digital and DevOps What is the impact of the API economy? What is the business imperative for Cognitive Computing? Get all these questions and hundreds more like them answered at the 18th Cloud Expo...
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...