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Siti Cable reports operating profit in Q2 FY13

Present in three out of the four metros to undergo full digitisation in the first phase, Siti has mobilised necessary resources to grow its market share

BestMediaInfo Bureau | Delhi | October 23, 2012

The consolidated total revenues of Siti Cable Network Ltd for Q2 FY2013 (quarter ended September 30, 2012) were Rs 1,039.8 million and operating profit (EBITDA) was Rs 189.3 million.

Subhash Chandra, Chairman, SITI Cable, said, “The Indian television industry is undergoing a big transformation with its move towards digitisation. This development has been long overdue and would impact the industry very positively. The subscribers would get a better value proposition in terms of superior quality of audio and video, greater number of channels, ability to choose specific channels, electronic programming guide and several other value added services. . What is of greater significance is the addressability that digitisation will induce in television ecosystem. This would benefit MSOs like Siti Cable.”

Commenting on the performance, Chandra said, “I am happy to note that Siti Cable has kept its focus on digitisation and consolidated its position in the market. Being present in three out of four metros to undergo absolute digitisation in the first phase, Siti has mobilised necessary resources to grow its market share.”

Anil Malhotra, COO of Siti Cable, said, “As part of our commitment for timely implementation of digitisation in phase 1 cities, we have executed DAS Interconnect agreement with about 60 per cent of our local cable operators and with the majority of broadcasters. We have also has introduced monthly digital cable television packages for consumers, namely, Janta and Popular packages. We have acquired around one million digital subscribers in these metros and remained focused on increasing our operating revenues and cost control, thereby improving the bottom line We are confident that the significant positive momentum of digital cable will not only continue to drive Siti’s growth for the rest of the fiscal year, but also strengthen the company’s growth in the years to come.”

Info@BestMediaInfo.com

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