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Sify Q3 cash loss at $3.9 million

Satyam Infoway Limited announced on Wednesday that its revenue for the third quarter ended December 31, 2001 increased by 36 per cent over the same quarter last year.

The company also said that its Q3 cash loss (earnings before interest, tax, depreciation and amortization) reduced to $3.9 million from $9.5 million during the same period last year.

This is the fourth successive quarter of reduction in cash losses and first time Sify is able to recover all its cash costs excluding bandwidth costs, a company media release said.

Cash burn (net reduction in cash) during the quarter was $4.3 million; 78 per cent reduction from $19.7 million during the same quarter last year. The cash burn for the quarter includes a one off capital expenditure into Verisign relationship of $ 1.2 million.

R Ramaraj, managing director and CEO, said: "I am quite pleased with where we are today. Thirty-six per cent growth in topline revenue, 60 per cent reduction in cash losses is a clear pointer to where we are heading.

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