Press Releases2011

Jan 27, 2011
Wire and Wireless (India) Ltd declares its Q3 results for FY11'

Noida, India; January 25, 2011 - The Board of Directors of Wire and Wireless (India) Limited (WWIL) (BSE: 532795, NSE: WWIL EQ) in its meeting held today, has taken on record the unaudited consolidated financial results of the Company and its subsidiaries for the third quarter ended December 31, 2010. WWIL today reported third quarter consolidated revenues of Rs 744.4 million. The operating profit (EBITDA) for the quarter was Rs 43.7 million as compared to the loss of Rs 43.7 million during the corresponding quarter last fiscal.

Highlights

Total consolidated operating revenues for the third quarter ended December 31, 2010 was Rs. 744.4 million as compared to Rs. 722.2 million during the corresponding quarter last fiscal showing a growth of 3.1%

The consolidated operating profits for the third quarter ended December 31, 2010 was Rs. 43.7 million as compared to the loss of Rs. 43.7 million during the corresponding quarter last fiscal

WWIL consolidated its presence in Eastern UP by launching its operations in key towns of Eastern UP.

WWIL re-launched SITI Digital Cable television services in Hyderabad, inaugurated by the then Chief Minister of Andhra Pradesh Sh. K. Rosaiah .

WWIL is running dunning process for Digital cable TV Subscribers successfully to bring greater transparency in the system; to monitor the monthly subscription credit risk, keep track of subscriber's payments and to adhere to the TRAI dunning norms for CAS.

Mr. Subhash Chandra, Chairman, stated, "WWIL continues to focus on its analogue business and is looking at every viable digitization & growth opportunity. WWIL has effectively managed analogue and digital expansions by putting up digital head ends in new geographies. As the market gets ready for the next wave of growth, we are committed to expanding our cable TV networks wider and deeper across the country. The initiatives taken by the company of implementing new systems & processes have started yielding results with continued positive EBIDTA during this quarter as well. The Company is progressing well and has effective plans for business expansion which gives me hope of continued improvement in business performance."

Mr. Sudhir Agarwal, CEO of WWIL commented, "Continuing the progress made in the three quarters of this fiscal, WWIL has consolidated its operation in existing geographies & continues to expand in newer market. It has also strengthened its UGF network quarter on quarter. WWIL is providing more than 100+ channels to consumer at very competitive price with the prime focus on region specific content and popular local channels. WWIL has recently re- launched SITI Digital Cable Television services in Hyderabad & offers superior picture and sound quality as compared to the conventional mediums."

He further said that "the dunning process implemented in CAS areas will bring transparency as the subscribers are informed about their overdue invoices of monthly subscriptions. We firmly believe that the company is well-placed in terms of its reach and capabilities and this adopted strategy shall reap benefits for all its consumers and stakeholders."

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