Press Releases2012Jan 23, 2012
Wire and Wireless (India) Ltd declares its Q3 results for FY12
Noida, India; January 20, 2012 - 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, 2011.« Back
WWIL today reported third quarter consolidated revenues of Rs 871.7 million. The operating profit (EBITDA) for the quarter was Rs 46.0 million as compared to Rs 43.7 million during the corresponding quarter last fiscal.
3Q FY2012 - Highlights
Mr. Subhash Chandra, Chairman, stated, "Indian economy has been facing headwinds of increased inflation, interest rate hikes and policy stand-offs; forcing to cut the GDP growth forecast to around 7%. However, my faith in the Indian economy for the long term remains intact. With the passage of cable digitization bill, the cable industry has got much required boost that will help create a more sustainable business model. If implemented well, over the next 4-5 years, the industry can completely transform itself to a more transparent, organized and service oriented industry. With WWIL showing consistently improved operational performance quarter-on-quarter, and with all its infrastructure and systems in place, the company is set to benefit immensely from digitization."
Mr. Anil Malhotra, COO of WWIL commented, "Amid stressed economic environment, WWIL maintained its momentum in the third quarter. Our consolidated revenue and EBITDA grew to Rs 957.1 million and Rs. 46.0 million respectively, a healthy growth of 26.9% and 5.2% over corresponding quarter of last fiscal. We will continue to work towards making the existing business self-sustainable as well as expand our footprint to new strategically important geographies. Digitization of existing cable infrastructure will augment the channel carrying capacity, offer better quality & will provide opportunities to monetize through different value added services like movies ondemand, broadband, gaming, etc. We take this as a very positive development which holds lots of promise for WWIL."