Press Releases2017

Aug 16, 2017
SITI Networks Limited declares its Q1 results for FY18

New Delhi, India; 11th August 2017: The Board of Directors of SITI Networks Limited (SITINET) (BSE: 532795, NSE: SITINET) in its meeting held today, has taken on record the Unaudited Consolidated Financial Results of the company for the First Quarter ended June 30, 2017.

SITI delivers solid revenue growth: Total Revenue up 35%; Subscription revenue up 35%; Broadband revenue up 32%; EBITDA jumps 126% to INR107 Crores; PBT turnaround at INR1.6 Crores; Added a record 1.6 mn digital cable customers; Significant improvement in Broadband Exit ARPUs at INR650-690/ month

Q1 FY18 Highlights

•    Revenue at INR371 Crores; up 10% QoQ & 35% YoY
•    Subscription Revenue at INR170 Crores; up 6% QoQ & 35% YoY
•    Broadband Revenue at INR26 Crores ; up 32% YoY
•    Carriage Revenue at INR77 Crores ; up 6% YoY
•    EBITDA at INR107 Crores; up 54% QoQ & 126% YoY
•    PBT at INR1.6 Crores
•    Robust addition of 1.6 mn Video customers
•    Broadband Subscriber Base at 2.40 Lakh

While commenting on the results, Mr. Sidharth Balakrishna, Executive Director, SITI Networks mentioned that SITI continues to hold a strong position in the market with record customer additions.We are well positioned to monetize this base from Q2 onwards and maintain a strong growth trajectory. In Broadband, we will selectively expand our offerings and drive increased customer focus. We are also making significant efforts to strengthen processes and optimise costs going forward, while also enhancing customer offerings. This along with a focus on certain revenue streams could potentially provide upsides going forward"

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