India Satyam Infoway to break even in 2000/01
NEW DELHI, Jan 20 (Reuters) - Indian Internet firm Satyam Infoway Ltd (NasdaqNM:SIFY - news) expects to break even in 2000/01 (April-March), a senior company official said on Thursday.
``In three years,' the company's vice-president of Internet sales, Pradeep Lakshmanan, said in response to a question at a business seminar on when Satyam Infoway would break even.
He later told reporters at the seminar on Internet service providers that the three years would be from the time Satyam Infoway began offering Internet access services in November 1997.
Lakshmanan did not say whether the company would make cash profits or net profits.
In November, a Merrill Lynch report forecast Satyam Infoway would make profits -- earnings before interest, tax, depreciation and amortisation (EBITDA) -- by 2000/01.
It said the company would report an EBITDA of $100,000 on revenues of $40 million in 2000/01. Earnings would rise to $70 million on revenues of $200 million by 2003/04, it added.
Satyam Infoway, a subsidiary of India's Satyam Computers Services Ltd , offers Internet access services in 33 cities and has about 120,000 subscribers, Lakshmanan said. It also operates a portal, SatyamOnline.com.
biz.yahoo.com |
