Satyam Info loss climbs in 2QFY2000 - Views on News from Equitymaster

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Satyam Info loss climbs in 2QFY2000

Nov 13, 1999

Satyam Infoway (Satyam Info) has posted a loss of Rs 76.9 m in 2QFY2000. This was reported by a leading financial daily. Satyam Info (59% subsidiary of Satyam Computers) was the first private sector company to break into the ISP (internet service provider) business. It is the second largest Indian ISP, after Videsh Sanchar Nigam Ltd. (VSNL). As on 11th November 1999, the company offered internet services in over 28 Indian cities, with a total subscriber base of 100,000 Internet subscribers.

Although Satyam Info's revenues grew 616% to Rs 127.4 m in 2QFY2000, losses increased unabated to Rs 76.9 m (Rs 44.2 m in 2QFY1999). But as FY99 marked the first year of operations, the results are not strictly comparable.

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