Press Releases2013

Jun 04, 2013
Siti Cable Network Limited (SCNL) declares its Q4 results for FY13

Mumbai, India; May 30, 2013 - The Board of Directors of SITI Cable Network Limited (SITI CABLE) (BSE: 532795, NSE: SITI CABLE EQ) in its meeting held today, has taken on record the Audited Consolidated Financial Results of the company and its subsidiaries for the fourth quarter ended March 31, 2013 and audited consolidated annual financial results for the financial year 2012-13. SITI CABLE today reported fourth quarter consolidated total revenues of Rs 1474.4 million.

4Q FY2013 - Highlights

  • Total revenue for the fourth quarter ended March 31, 2013 was Rs. 1474.4 million as compared to Rs. 919.4 million during corresponding quarter last fiscal.
  • The consolidated operating profit (EBITDA) for the fourth quarter ended March 31, 2013 was Rs. 260.2 million as compared to operating profit (EBITDA) of Rs. 31.1 million during corresponding quarter last fiscal.
  • Initiated subscriber wise billing for DAS cities.
  • SITI Cable consolidated its presence in key towns.

ANNUAL FY2013 - Highlights

  • Total revenue for the financial year ended March 31, 2013 was Rs. 4836.6 million as compared to Rs. 3642.6 million during last fiscal, recording a growth of 33%.
  • The consolidated operating profit (EBITDA) of SITI CABLE for the financial year ended March 31, 2013 was Rs. 869.6 million as compared to operating profit (EBITDA) of Rs. 192.0 million during the last fiscal.
  • SITI CABLE consolidates its Pan India presence through strategic expansions in Eastern, Western and Central India Region Towns i.e. Patna, Guwahati, Pune, Indore, Jaipur, Bhopal, Jabalpur and Ujjain.
  • “Own your customer (OYC)” exclusively developed to empower the business partner (LCO)

Mr. Subhash Chandra, Chairman, stated, “Indian markets provide media and entertainment companies with a variety of opportunities to deliver localized content through Digital Cable TV services. Digital technology offers the requisite solution holding the promise of better satisfaction at all levels of the distribution chain including the consumers. The digital addressable systems (DAS) will enhance further scope of the cable TV services.  The benefits of DAS rollout are expected to contribute significant growth in the revenues. SITI Cable ongoing efforts to leverage its strengths in digital regime are reflecting in the performance of the company”

Mr. V D Wadhwa, CEO of SITI Cable commented “Our total revenue and EBITDA grew to Rs 4836.6 million and Rs. 869.6 million, a healthy growth of 33% and 353% respectively over last fiscal. We have taken the several key steps like providing OYC system, carriage revenue share, training for our Business partners and customer education to ensure the smooth transition to digital regime. We have made conscious and concerted effort to align our people, processes and technological up gradation more closely with our business strategy there by giving ourselves the best chance to capture emerging opportunities in the Industry esp. Broadband, VAS etc. besides substantially infusing the capital required for digitization.”

He further added, “For the wider digitization roll out, we are further upgrading our digital infrastructure and Subscriber Management System. The company is well placed to benefit from the ongoing digitization implementation and fully geared up to grow its Revenue and Profitability at a faster pace.”

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