Siti Cable posts revenue growth of 33% at Rs 4836 mn in FY2013

The company has reported Q4 consolidated total revenues of Rs 1474.4 million. FY2013 EBITDA grew 353% to Rs 869.6 million  

BestMediaInfo Bureau | Delhi | June 3, 2013

The Board of Directors of Siti Cable Network Limited has taken on record the audited consolidated financial results of the company and its subsidiaries for the fourth quarter ended March 31, 2013 and audited consolidated annual financial results for the financial year 2012-13. The company has reported Q4 consolidated total revenues of Rs 1474.4 million.

The Q4 consolidated operating profit (EBITDA) was Rs 260.2 million compared with Rs 31.1 million during the corresponding quarter last fiscal.

Total revenue for the financial year ended March 31, 2013 was Rs 4836.6 million compared with Rs 3642.6 million during the last fiscal, a growth of 33 per cent. The consolidated operating profit (EBITDA) was Rs 869.6 million against Rs 192.0 million in the last fiscal.

Subhash Chandra, Chairman, Siti Cable, stated, “Indian markets provide media and entertainment companies with a variety of opportunities to deliver localized content through Digital Cable TV services. Digital technology offers the requisite solution holding the promise of better satisfaction at all levels of the distribution chain including the consumers. The digital addressable systems (DAS) will enhance further scope of the cable TV services. The benefits of DAS rollout are expected to contribute significant growth in the revenues. Siti Cable ongoing efforts to leverage its strengths indigital regime are reflecting in the performance of the company”

VD Wadhwa, CEO of Siti Cable, commented, “Our total revenue and EBITDA grew to Rs 4836.6 million and Rs 869.6 million, a healthy growth of 33 per cent and 353 per cent respectively over the last fiscal. We have taken the several key steps like providing OYC system, carriage revenue share, training for our Business partners and customer education to ensure the smooth transition to digital regime. We have made conscious and concerted effort to align our people, processes and technological upgradation more closely with our business strategy there by giving ourselves the best chance to capture emerging opportunities in the Industry esp. Broadband, VAS etc. besides substantially infusing the capital required for digitization.”

He added, “For the wider digitization rollout, we are further upgrading our digital infrastructure and Subscriber Management System. The company is well placed to benefit from the ongoing digitization implementation and fully geared up to grow its revenue and profitability at a faster pace.”

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