Press Releases2014

May 30, 2014
Siti Cable Network Limited (SCNL) declares its Q4 results for FY14

Noida, India; May 28, 2014 - 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 un-audited Consolidated Financial Results of the company and its subsidiaries for the fourth quarter ended March 31, 2014 and audited consolidated annual financial results for the financial year 2013-14. SITI CABLE today reported fourth quarter consolidated total revenues of Rs 2434 million and operating profit (EBITDA) of Rs. 279 million.

Q4 FY2014 – Highlights

  • Total revenue for the fourth quarter ended March 31, 2014 was Rs. 2434 million as compared to Rs. 1474 million during corresponding quarter of the last fiscal.
  • The consolidated operating profit (EBITDA) for the fourth quarter ended March 31, 2014 was Rs. 279 million as compared to operating profit (EBITDA) of Rs. 260 million during corresponding quarter of the last fiscal.
  • Gross Billing started in Delhi , Kolkata (DAS Ph-1 cities)

Annual FY2014 - Highlights

  • Total revenue for the financial year ended March 31, 2014 was Rs. 7103 million as compared to Rs. 4837 million during the last fiscal.
  • The consolidated operating profit (EBITDA) of SITI CABLE for the financial year ended March 31, 2014 was Rs. 1259 million as compared to operating profit (EBITDA) of Rs.870 million during the last fiscal.
  • DAS Subscription revenue grew by 630% over last fiscal ; Digital Subscribers grew to 4 million

Mr. Subhash Chandra, Chairman, stated, “The Cable television industry in India is rapidly changing with the visible signs of progression towards the complete digitalization. The television viewers are getting familiar with inherent advantages of digitization through cable, digital cable is playing an instrumental role in digitization. Digital Cable Television is a major engine of growth for SITI Cable across all geographies. Our sustained investment in this segment will further enhance customer television viewing experience.”

Commenting on the performance, Mr. Chandra said, “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 continuous efforts towards expanding the subscriber base, faster implementation of gross billing in Delhi and Kolkata , hi-focus on adherence to regulatory compliances and cost controls measure has helped us in delivering the healthy performance quarter on quarter basis. During the year, we have set the benchmark in being the pioneer company to monetize the business by collecting higher subscription on per subscriber basis, best backend infrastructure, fair and transparent commercial policies in dealing with all our  associates”.

He further added, “We are well placed to benefit from the ongoing digitization implementation and fully geared up to grow Revenue and Profitability at a faster pace”.

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