Sify second Quarter: Net loss of $ 1.25 million
As per company release, Sify posted a net loss of $ 1.25 million for 2nd quarter 1007-08 as compared to a net loss of $1.27 million previous quarter.
* Revenues were $37.02 million, 4.7% higher than preceding quarter and 6.4% YoY
* Net profit before exceptional items was $1.12 million as compared to $0.58 million in previous quarter
* $1.8 million legal expenses (exceptional items) were incurred related to a case against another Internet company (Yahoo)
* Gross margins fell from $ 16.42 million in previous quarter to $ 16.11 million in current quarter and from $ 17.03 million (2nd quarter, last year) to its current level
* Only the corporate services division showed healthy growth. Other divisions were less than stellar and some even showed a decline
I attended Sify’s conference call with analysts. Additional bits from the same:
* Acquisition of a company in the system management services sector is a possibility, now that they have some cash reserves
* The goal is to develop the city portals (bangalorelive.in, mumbailive.in etc.) into community, kind-of social networks down the line
* provision for doubtful debt this quarter was $0.75 million as compared to $ 1.28 million last quarter
