Sees major expansion riding on new digitization policy
BestMediaInfo Bureau | Delhi | October 20, 2011
For the second quarter ended September 30, 2011, Wire and Wireless (India) Limited (WWIL) has reported 27 per cent higher consolidated revenues of Rs 962 million in the second quarter ending September 2011. The operating profit (EBITDA) for the quarter was Rs 72 million against Rs 31 million in the corresponding quarter last fiscal, a growth of 135 per cent.
Subhash Chandra, Chairman, WWIL, said, “With the Union Cabinet clearing the ordinance on digitization, the cable industry will get a much required boost which would help create a more sustainable business model. If implemented well, over the next 4-5 years, the industry can completely transform itself from a fragmented unorganised set-up to a more transparent, organised and service oriented industry. With WWIL showing consistently improved operational performance quarter-on-quarter, the company is set to benefit immensely with the onset of digitisation.”
Sudhir Agarwal, CEO of WWIL, commented, “We will continue to work towards making the existing business self-sustainable as well as expand our footprint to new strategically important geographies. With the government clearing the ordinance on digitisation, we are truly on the cusp of a huge transformation and ready to move to the next level and capitalise on our investments in infrastructure, systems, processes and people. Digitisation of existing cable infrastructure will augment the channel carrying capacity, offer better quality and provide opportunities for delivering various value added services such as movies-on-demand, broadband, etc., for consumers. A multi-fold increase in subscriber numbers is expected.”
WWIL is one of the India’s largest Multi System Operators (MSO). With 53 analogue and 11 digital headends, it provides cable services in 54 cities. The company is part of the Essel Group, which is engaged in media, packaging, entertainment, technology-enabled services, infrastructure development and education.