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From the News Desk
Thursday, 31. August 2006
Sify Q1 Swings to Profit; CEO Resigns
Internet and enterprise services provider Sify has posted first quarter profit compared to loss in the year-ago quarter. Under U.S. GAAP, the company has a net profit of USD 1.36 million compared with a net loss of USD 2.14 million a year-ago.
Revenue for the quarter grew 29.1 percent at USD 28.74 million from the year ago quarter.
Sify also said that its Managing Director and Chief Executive Officer, R. Ramaraj has resigned and is replaced by the company’s board Chairman, Raju Vegesna.
The company said Ramaraj, who has resigned to pursue other interests and opportunities, has agreed to be available for work as a consultant.
Revenue for the quarter grew 29.1 percent at USD 28.74 million from the year ago quarter.
Sify also said that its Managing Director and Chief Executive Officer, R. Ramaraj has resigned and is replaced by the company’s board Chairman, Raju Vegesna.
The company said Ramaraj, who has resigned to pursue other interests and opportunities, has agreed to be available for work as a consultant.
