The Hindu : Sify revenue up 49 p.c. in Q1

Online edition of India's National Newspaper
Wednesday, Jul 16, 2003

Business

Business

Sify revenue up 49 p.c. in Q1

By Our Corporate Reporter

CHENNAI JULY 15. Sify, the networking and e-commerce company, increased its sales revenue by 49 per cent to $12.95 million in the three months ended June 30, 2003 as compared to $8.71 million in the same quarter last year.

It incurred a planned cash loss of $ 1.37 million against $ 4.37 million.

Depreciation and amortisation claimed $3.10 million ($3.07 million) and net interest $0.18 million (($0.15 million).

There is no provision towards taxation against $90,000 in the previous year.

Net loss during the quarter at $ 4.46 million was 51 per cent less than the corresponding three-month figure of $9.18 million.

R. Ramaraj, Managing Director and CEO, stated in a press release "It was not too difficult a choice for us to evaluate between maintaining cash profits and incurring one time marketing expenses for expanding cybercafe business.

"I am pleased to report that the number of cybercafes in our iway network has exceeded 1,000 this quarter and is becoming a model for delivering broadband Internet across the country to people without PCs at home."

Zydus Cadila

Zydus Cadila Healthcare has registered a 32.6 per cent rise in its net profit at Rs. 25.59 crores for the first quarter ended June 30, 2003 from Rs. 19.30 crores in the corresponding period of the previous year.

Sales rose by 16.1 per cent to Rs. 194.82 crores from Rs. 167.81 crores in the corresponding quarter of the previous year. The company's net profit posted encouraging jump despite higher tax provision.

On the profitability front, the profit before interest, depreciation and tax (PBIDT) rose by 42 per cent to Rs. 44.41 crores from Rs. 31.27 crores despite increase in other expenses on account of expenditure incurred in setting up operations in regulated markets, particularly in the U.S.

The profit before tax rose by 46.5 per cent to Rs. 31.49 crores from Rs. 21.50 crores in the comparative quarter last year.

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