Sify Technologies Ltd reported net profit of $1.01 million for the year ended March 31, 2010, as against a loss of $18.87 million for the previous year. Increase in profit was due to a one-time realisation from legal proceedings under other income of $12.66 million during the third quarter. The company reported revenue of $156.93 million for the year, which is 5 per cent higher than the previous year’s $136.5 million.

Enterprise services continued to drive revenue by growing 33 per cent over the previous year. They accounted for 81 per cent of the company’s revenue during the year. The division now focuses on connectivity, hosting, enterprise application, managed voice and systems integration services. Consumer services revenues declined by 35 per cent.

For the fourth quarter of last year, Sify incurred a net loss of $ 3.34 million compared to a net loss of $4.53 million for the quarter ended March 2009. Cash balance at the end of the year was $19.34 million.

Raju Vegesna, board chairman, chief executive officer and managing director of Sify said: “We have done well to grow our revenues overall despite the challenging climate during the year. The changed business environment necessitated a realignment of services within both enterprise and consumer services for greater focus, efficiencies and speed of response. ”

According to CVS Suri, chief operating officer of the company, Sify is in the final phase of testing value-added services for delivery across platforms such as cyber cafes, broadband and Sify.com.