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Siti Cable posts net loss of Rs 37.10 crore in Q1 FY16

EBIDTA up 19 per cent QoQ; Revenues at Rs 230 crore, up by 9 per cent YoY; Broadband income soars by 63 per cent YoY

BestMediaInfo Bureau | Mumbai | August 14, 2015

siti-logoSiti Cable Network has reported a net loss of Rs.37.10 crore for the first quarter ended June 30, 2015, as against a net loss of Rs 31.67 crore in the corresponding quarter last fiscal. In the preceding quarter (Q4 FY15), this figure was pegged at a net loss of Rs 34.12 crore.

The total income from operations for Q1 FY16 stood at Rs 228.04 crore, as against Rs 209.02 crore in the corresponding quarter last fiscal. The revenues though have dipped from the preceding quarter (Q4 FY15), where the figure stood at Rs 256 crore. However, the revenues for Q1 FY16 have increased by 9 per cent on YoY basis.

EBIDTA for Q1 FY16 was pegged at Rs 38 crore, as against Rs 36 crore in Q1 FY15. When compared with the preceding quarter (Q4 FY15), the increase in EBIDTA is 19 per cent. EBIDTA for Q4 FY15 stood at Rs 321 crore.

Cable TV subscription revenue for Q1 FY16 stood at Rs 129 crore, as against Rs 118.2 crore in the corresponding quarter last fiscal. The subscription revenue in Q4 FY15 was pegged at Rs 142.4 crore.

The carriage revenue for Q1 FY16 stood at Rs 72.9 crore as against Rs 61.17 crore in the corresponding quarter last fiscal. The same was pegged at Rs 73.5 crore in Q4 FY15.

There was a dip in activation revenues as the company could only muster Rs 10.9 crore in Q1 FY16, as against Rs 14.6 crore in Q1 FY15. These figures in Q4 FY15 were much higher at Rs 21.1 crore.

The pay channel cost for Q1 FY16 was pegged at Rs 135.70 crore, down by Rs 21 crore from the preceding quarter (Q4 FY15), where the cost stood at Rs 156.98 crore. This cost in Q1 FY15 stood at Rs 125.54 crore.

Siti Cable Network’s broadband services received a boost with the company posting revenues of Rs 9 crore, a 63 per cent rise on YoY basis, where the figure stood at Rs 5.5 crore.

In Q1 FY16, Siti Cable Network added 4,400 broadband subscribers to take its tally to 74,500 subscribers.

While commenting on the results, VD Wadhwa, Executive Director & CEO, Siti Cable, said, “Our commitment to improving operational efficiency and streamlining operations continues, leading to EBITDA growth of 18.7 per cent and margin expansion by 501 bps QoQ. We managed to grow our Broadband revenues by 13.4 per cent QoQ and are on track to expand our Broadband operations in new cities. Delays in content availability held back STB seeding, however, we are well poised to expand aggressively this quarter. During the quarter we have further tightened our credit control measures and started taking strict actions against defaulting operators which shall result into improved credit discipline and saving in operating cost.”

Info@bestmediainfo.com

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