Sify Slips To Loss In Q3, Stock Down In Pre-Market

(RTTNews) - India-based Sify Technologies Ltd. (SIFY), Friday announced third quarter loss, despite growth in revenue, compared to profit last year. The company reported loss of INR 258 million compared to profit of INR 38 million in previous year. The ICT solutions and services provider said the quarterly loss was primarily due to increased interest expenses on borrowings and lease liabilities. Revenue for the quarter increased to INR 10.491 billion from last year's INR 8.659 billion.

In the pre-market hours, Sify's stock is moving down 4.40 percent, to $3.04 on the Nasdaq.