New Delhi, India; 9th November 2015: The Board of Directors of SITI Cable Network Limited (SITICABLE) (BSE: 532795, NSE: SITI CABLE EQ) in its meeting held today, has taken on record the Unaudited Consolidated Financial Results of the company for the Second Quarter ended September 30, 2015.
1. EBITDA at INR 52 Crores; up 35% QoQ& 13% YoY
2. Revenue at INR 243 Crores; up 5% QoQ& 9% YoY
3. Subscription Income at INR 139 Crores ; up 7% QoQ& 3% YoY
4. Broadband Income at INR 9 Crores ; up 4% QoQ& 50% YoY
5. Added 0.33 mn Video subscribers
6. Added 16,950 Broadband subscribers
1. EBITDA at INR 90 Crores; up 9% YoY
2. Revenue at INR 473 Crores; up 9% YoY
3. Subscription Income at INR 268 Crores ; up 6% YoY
4. Broadband Income at INR 18 Crores ; up 57% YoY
1. Market Expansion: SITI further expanded into 21 markets in the states of Harayana, MP, Karnataka,Â Rajasthan, Telangana &Uttrakhand as a part of the ongoing voluntary digitization process in order to be compliant with DAS Phase 3 Digitization deadline
2. HD subscribers currently at 25,000
3. Step ahead in Technology: SITI has adopted MPEG 4 technology and will provide MPEG 4 STBs equipped with Personal Video Recorder (PVR) facility to subscribers
1. Broadband Home passes at 5.86 Lakhs, SITI will be looking towards deeper extraction ofhome passes to improve operating leverage
1. Q2 EBITDA, excluding activation was up 18% QoQ, at INR32 Crores vs INR27 Crores
2. Consolidated Gross Debt at INR1,236 Crores & Net Debt at INR1,041 Crores
While commenting on the results Mr. V D Wadhwa, Executive Director & CEO, SITI Cable mentioned that "A focus on improved operational performance resulted in EBITDA growth of 35.2% and EBITDA Margin at 21.2%, an expansion by 467 bps sequentially.
We are looking to further streamline our Broadband operations to provide stellar customer experience. Our commitment to digitization of Phase 3 areas remains and we expect this to gain further momentum in the coming quarter"