Press Releases2014

Nov 13, 2014
Siti Cable Network Limited (SCNL) declares its Q2 results for FY15

New Delhi, India; Nov 11, 2014 - The Board of Directors of SITI Cable Network Limited (SCNL) (BSE: 532795, NSE: SITI CABLE EQ) in its meeting held today, has taken on record the unaudited consolidated financial results of the Company and its subsidiaries for the quarter ended Sept. 30, 2014. The key performance highlights are as below.

  • Total revenues for Q2 FY 2015 at Rs. 2238 million as compared to Rs. 1641 million during corresponding quarter last fiscal, recording a growth of 36%.
  • The consolidated operating profit (EBITDA) for Q2 FY 2015 at Rs. 458 million as compared to Rs. 330 million during corresponding quarter last fiscal.
  • Subscription revenue at Rs. 1214 million as compared to Rs. 600 million same quarter last fiscal recorded a remarkable growth of 102%.
  • SITI Cable added 300,000 STBs during the quarter ended September 2014 increasing the digital subs base to 4.6 million
  • Launched broadband services on DOCSIS 3.0 in Delhi/NCR.

Operational Highlights

  • Consolidated Revenue:

The Company has registered Total revenue of Rs. 2238 million as compared to Rs. 1641 million during corresponding quarter of the last fiscal. Operating revenue is primarily generated from subscriber related income, income from bandwidth charges, income from advertisements and other operating revenues.

  • SITI Cable launches SITI Broadband - Fastest Internet at an Amazing Price

SITI has launched the high speed internet services on DOCSIS 3.0 platform at its cable network in Delhi / NCR. We are offering internet speeds ranging from 5Mbps to 100Mbps with a data plan policy upto 100 GB. The plans on offer by SITI are the most attractive compared to any service provider in Delhi/NCR.

  • Innovative Advertising through STB

With a view to uncover new revenue potential and offer more branding opportunities to the advertisers, SITI have introduced innovative advertising through STB. Now the advertisers can place their ads on Electronic Programming Guide (EPG), boot up screens, channel bar & volume bar.

  • Four In House Channel in Eastern part

To provide exclusive and quality rich content to SITI subscribers we have further launched 4 local cable TV channels at our digital cable platform in eastern part of country. Going forward we will be introducing these channels in other geographies as well.

  • SITI Shopping (Shopping Channel)
  • SITI Romance (Romantic Movie Channel)
  • SITI Events (Coverage of local events and local Info)
  • SITI Cinema (Bengali Movie Channel)

  • Direct Point Acquisition

The company strides to provide better consumer experience and move from B2B to B2C business model. To accomplish this, it has initiated the acquisition of direct points from the LCOs in NCR region initially.

Dr. Subhash Chandra, Chairman stated, "The 'Digital India' program has been launched with the vision of transforming India into a digitally empowered society and knowledge economy. It intends to bring India at par with other developed countries. Government has identified broadband as one of the key pillar to achieve its target under the program. We are gearing up to provide the broadband services on cable networks, which shall also pave the way for ARPU enhancement to the company".

Commenting on the financial performance of the company Dr. Chandra said, "Growth in the collection of subscription revenue is the reflective of our continued emphasis on providing quality services to our consumers. We remain focussed on supporting business growth by optimizing our operations and continue to deepen our engagements with customers by introducing value added services."

Mr. V D Wadhwa, Executive Director & CEO, SITI Cable said, "SITI Cable maintained its growth trajectory in the second quarter too. We continue to focus on stabilising operations in DAS phase 1 & 2 markets and established industry best practices. The results for the quarter are reflective of these efforts. The subscriber revenue during the quarter has shown robust growth of 102%".

Commenting on the push back of digitization Mr. Wadhwa added, "We have been working to digitize our phase 3 and 4 markets and we will keep the momentum ON through voluntary digitization & focusing more on the monetization of existing business. We see extension in deadline as the opportunity for us to enter newer markets. In addition, we have rolled out broadband service on DOCIS 3.0 in Delhi/NCR and plan to further offer this service in more cities where we are already present. HD services with 30+ channels have also been rolled out in all geographies."

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