SIFY Reports India GAAP Results

SIFY Reports India GAAP Results

SIFY Reports India GAAP Results for the Fourth Quarter and Fiscal Year ended 31st March 2006
Sify Declares Net Profit of Rs 5.67 Crores for the Quarter.Revenues grow 30% Year over Year to Rs 464 Crores

Chennai,India,Thursday, 20th April 2006:Sify Limite(Nasdaq National Market: SIFY),a leader in consumer Internet and enterprise services,announced today its India GAAP results for the fourth quarter and fiscal year ended 31st March 2006.

Q4 2005-06 Performance Highlights:Sify reported revenues from sales and services of Rs 126.8 crores for the fourth quarter,24% higher than in the same quarter ended 31st March 2005.The sequential growth in revenues over the previous quarter was 6.4%.Sify’s net profit for the quarter under India GAAP was Rs 5.67 crores, compared to a net loss of Rs 12.6 crores for the fourth quarter in the previous financial year. The net profit for the immediately preceding quarter was Rs 1.31 crores, excluding one time income of Rs 5.95 crores that was recognized during that quarter The results as per US GAAP for the fourth quarter show a net profit of Rs 2.09 crores.
Sify ended the quarter with a cash balance of over Rs 269 crores.

2005-06 Performance Highlights:
Sify reported revenues from sales and services of Rs 463.9 crores for the fiscal year ended 31st March 2006, 30% higher than the previous fiscal year.

Sify’s net loss for the year under India GAAP was Rs 6.01 crores, a decrease of 77% compared to a net loss of Rs 26 crores for the previous fiscal year.

Summarised Results
(In  Rs Crores)
       Quarter ended   Year ended      Year ended
Description     31- Mar 31- Mar         31- Dec 31-Mar          31-Mar
       2006    2005    2005    2006    2005

Enterprise Services     67.95   57.35   63.42   248.80  198.04
Access Media    48.09   39.57   46.33   181.41  140.49
Portals 5.65    3.03    4.79    17.90   10.28
Others  5.09    2.10    4.58    15.76   8.11
Sales revenue   126.78  102.06  119.12  463.87  356.92

Net income / (loss)     5.67    (12.61) 7.26    (6.01)  (26.07)
Net Income / (loss) Rs / share  1.38    (3.56)  2.05    (1.63)  (7.41)

For further information please contact:
Ms. Meenakshi Vijay/Ms Linda Soares
Account Manager/PR Executive
Madison Public Relations
Tel: (022)5654 8341 / 42/43,2266 0140
email:linda/meenakshi {at} fort.madisonindia(.)com