Internet, network and e-commerce major Sify Ltd has posted a consolidated net loss of $8.55 million on US GAAP basis for the fiscal ended March 31, 2004.

The company's revenues rose 40 per cent to $64.50 million during the period under review, while its cash profit stood at $1.94 million, compared to a cash loss of $11.11 million posted a year ago, Sify said in a release on Monday.

For the quarter ended March 31, the company posted a net profit of $0.54 million, as against a net loss of $3.38 million during the same quarter of previous fiscal, it said.

Sify's sales revenue during the reporting quarter rose 16 per cent to $19.01 million compared to the preceding quarter and was 36 per cent higher than the same quarter a year ago, it said adding, the company has ended the quarter with a cash balance of $33 million and is "debt-free".