The Hindu : Sify reports lower cash loss in Q3

Online edition of India's National Newspaper
Friday, Jan 17, 2003

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Business

Sify reports lower cash loss in Q3

By Our Special Correspondent

CHENNAI Jan 16. Internet, networking and e-commerce company Sify Ltd. has reported a cash loss (earnings before interest, tax, depreciation and amortisation) of $2.92 million for the quarter ended December 2002, down from $3.91 million the same quarter last year.

For the quarter ended September 2002, the cash loss was $3.18 million.

The revenue is up to $10.82 million in the quarter under review, up from $8.70 million in the same quarter during the preceding year. During the quarter ended September 2002, the revenue was at $9.67 million.

The cash burn (net reduction in cash) was $3.96 million during the quarter ended December 2002. This included a one-time payment of $1.2 million toward renewal of directors and officers liability insurance policy for a one-year period.

Cash and cash equivalents as at the end of quarter ended December 2002 was $21.7 million (including $16.5 million received in December 2002 out of the planned investments from Softbank Asia Infrastructure Fund and Venture Tech).

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