Press Releases2015

Feb 06, 2015
Siti Cable Network Limited (SCNL) declares its Q3 results for FY15

New Delhi, India; 4th Feb. 2015: 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 31st December, 2014.

Performance Highlights for Q3 FY 2015

  • Revenue at INR223 Crores; up 26.1% YoY
  • EBITDA at INR50 Crores; up 9.4% QoQ & 43.1% YoY
  • Digital subscriber base increased to 4.85 million
  • Broadband subscriber base increased to 54,000

Corporate Overview

"SITI Cable Network is fully geared to provide the benefits of digitization to the Indian subscriber. The Company continues to provide leadership in the areas of best practices, systems implementation and compliances. Although some minor challenges remain, the Company is leading the industry on a new and evolved growth trajectory" said Dr. Subhash Chandra, Chairman

"SITI Cable maintained its growth momentum in the third quarter as well while improving EBITDA Margin from 20.5% to 22.4% QoQ"

"Last mile operators have realized that digitization is a reality now. We see less resistance towards digitization from the LCOs in phase 3 & 4 towns. In fact they see digital cable STB as an opportunity towards offering more channels, better services to their consumers and realising better revenues from their existing customer base. It also helps them in retaining their customer, who would otherwise move to competing technology like DTH for want of better quality services" said Mr. V D Wadhwa, Executive Director & CEO, SITI Cable

Operational Highlights

  • New Geography Expansion
Company expanded its footprint by entering into newer markets like Nagpur, Pune, Mysore and Dehradun. Company has also made inroads in Phase 3 & 4 towns in Kerala, MP, Gujarat and Maharashtra. These new geographical imprints will further help in consolidating the company's position as a leading national MSO

  • Technological Upgradation

Existing digital head end at Bengaluru upgraded to State of the Art (Ericsson and Harmonic)

  • SITI will keep the STB seeding momentum ON through proactive seeding in the existing as well as new cities of Phase 3 & Phase 4
  • Direct Point Acquisition
Acquisition of direct points initiated in Q2 FY2015 made considerable progress in this quarter. Direct point subscriber base increased to ~40,000

  • Channels on "a-la-carte" - Step towards increasing ARPUs

As per the directive from TDSAT, sports and other select content channels are being offered on "a-la-carte" basis to subscribers in order to empower them with the choice of choosing exactly what they would like to view and make channel packaging more bespoke. This is also expected to be one of the key drivers towards enhancement of consumer ARPUs in the medium to long term

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