SOURCE: The Bedford Report

The Bedford Report

August 09, 2011 08:16 ET

Rediff and Sify Optimistic About Long Term Growth Drivers

The Bedford Report Provides Equity Research on Rediff.com India & Sify Technologies

NEW YORK, NY--(Marketwire - Aug 9, 2011) - Shares of India's internet companies have been performing well of late following favorable second quarter earnings. Rediff.com argues that long term growth drivers are strong, as the National Broadband Plan to reach 160 million broadband connections by 2014, "is a major step forward in the proliferation of broadband in India and follows the recent launch of 3G services by private telecom operators in India." The Bedford Report examines the outlook for companies in India's Internet Sector and provides investment research on Rediff.com India Ltd. (NASDAQ: REDF) and Sify Technologies Limited (NASDAQ: SIFY). Access to the full company reports can be found at:

www.bedfordreport.com/REDF

www.bedfordreport.com/SIFY

Recent reports from the Internet and Mobile Association of India (IAMAI) says that internet awareness in the country is surging. According to IAMAI research, about 69 percent of the rural population is aware of the internet as opposed to 16 per cent projected in last year's report. IAMAI estimates that the total number of active internet users in rural areas is projected to rise by 98 percent this year, from 12.1 million in December 2010 to 24 million by December 2011. The report argues one of the drivers of growth in rural internet users is that access has become easier. Government initiatives have been conducted to facilitate internet networks and 'common service centers' both of which increased in 2010.

The Bedford Report releases market research on India's Internet Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

Shares of Sify Technologies have been on the upswing after the company reported a second-quarter EBITDA profit of $2.8 million compared with $510,000 a year earlier as revenue climbed to $50.73 million, a 31% increase from the year-earlier period. The company's net loss narrowed to $1.91 million from $4.05 million. Sify said revenue from enterprise services surged 40% in the quarter including $10.3 million from a large U.S. telecom company Sify did not identify in its statement.

Last month Rediff said advertising revenues in India grew 6% while total India revenues, which include fee-based and online advertising revenues, also grew 6% for the quarter, and its global revenues grew 4% for the quarter, in each case over the same quarter last year.

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