Sify Technologies Limited, (SIFY), a provider of IT, e-commerce and Internet services, Thursday reported a profit for full year 2012, particularly on the back of one-time gain from sale of stake in associate company.
For the year, the firm reported net earnings of INR 477 million compared to net loss of INR 385 million last year. The company attributed to the profit a one-time gain of INR 658 million from sale of stake in associate company. EBITDA for the year was INR 802 million compared with INR 490 million in the previous year.
The revenue recorded for the year was INR 8570 million as against revenue of INR 7698 million previous year. The increase in revenues was mainly pinned to the increase in enterprise division amounting to INR 7871 million compared with INR 6948 million last year. The software division saw a slight decline reporting INR 699 million for this year compared with INR 750 million last year.
The firm stated capital expenditure of INR 1846 million during the year, and cash balance of INR 999 million at the end of the year.
Currently, SIFY is trading up $0.11 or 5.67 percent at $2.05 on the Nasdaq.
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