Cable TV

Siti Networks' operating profit more than doubles in first quarter

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/08/12/Untitled-1.jpg?itok=UK2kUQ4J

BENGALURU:  The Subhash Chandra led Essel group’s television cable network company Siti Networks Limited (Siti) reported EBIDTA including other income or operating profit of Rs 1,071.65 million (28.9 percent of Total Income) for the quarter ended 30 June 2017 (Q1-18, current quarter). The company’s operating profit for the current quarter was more than double (up 2.26 times) the Rs 474.09 million (16.5 percent of Total Income) the company had reported for the corresponding year ago quarter (y-o-y) and 54.2 percent higher than the Rs 694.88 million (20.6 percent of Total Income) reported for the immediate trailing quarter Q4-17 (q-o-q).

Consequently, the company reported a lower total comprehensible loss in the current quarter at Rs 151.32 million, which was a little less than one third (1/2.87 times) the total comprehensible loss of Rs 435.26 million in Q1-17 and less than a fourth (1/4.26 times) the total comprehensible loss of Rs 647.16 million in Q4-17.

Siti’s total income for Q1-18 was 29.4 percent higher y-o-y at Rs 3,711.13 million as compared to Rs 2,868.82 and 10.1 percent higher q-o-q as compared to Rs 3,370.46 million. Revenue from operations increased 29.4 percent y-o-y to Rs 3,649.57 million from Rs 2,819.67 million and increased 12.1 percent q-o-q from Rs 3,255.18 million.

Breakup of revenue

Siti’s subscription revenue in the current quarter increased 34.6 percent y-o-y to Rs 1,700 million from Rs 1,263 million and increased 6.3 percent q-o-q from Rs 1,600 million. Carriage revenue in the current quarter increased 6.3 percent y-o-y to Rs 765 million from Rs 720 million, but declined 4.1 percent q-o-q from Rs 798 million. Activation revenue in Q1-18 more than doubled (increased 2.32 times) y-o-y to Rs 849 million from Rs 366 million and was 75.4 percent more q-o-q than Rs 484 million. Broadband internet revenue for Q1-18 increased 32.3 percent y-o-y to Rs 258 million from Rs 195 million, but declined 3 percent q-o-q from Rs 266 million.

Subscription numbers

The company says that it deployed more than 1.6 million set top boxes during the quarter in West Bengal, Haryana, Andhra Pradesh and Telengana, primarily in Phase 4 areas. It says that its digital video base was about 11.6 million at the exit of June 2017 and that prepaid migration is on track with 1.16 million subscribers across 134 locations brought under its ambit by August 2017. Siti says that during the year 0.05 million of its customers adopted HD services taking the total HD customer base to 0.22 million by exit Q1-18.

Siti’s broadband internet subscriber base increased by approximately 12,000 to 0.24 million in Q1-18 from 0.228 million in the immediate trailing quarter. The company says that as a strategy it increased focus on higher 'Lock-in' broadband internet plans in Q1-18. About 40 percent of its acquisitions are now coming on longer duration plans. Siti says that it is targeting to take this figure to over 50 percent in Q2-18.

Company speak

Siti executive director Sidharth Balakrishna said, ““SITI continues to hold a strong position in the market with record customer additions.We are well positioned to monetize this base from Q2 onwards and maintain a strong growth trajectory. In Broadband, we will selectively expand our offerings and drive increased customer focus. We are also making significant efforts to strengthen processes and optimise costs going forward, while also enhancing customer offerings. This along with a focus on certain revenue streams could potentially provide upsides going forward”

Let us look at the other numbers reported by Siti

Consolidated Total Expenditure increased 14.1 percent y-o-y to Rs 3,696.52 million (99.6 percent of Total Income) in Q1-16 from Rs 3,238.75 million (112.9 percent of Total Income) in Q1-18 and increased 0.4 percent q-o-q from Rs 3.680.87 million (109.2 percent of Total Income).

Consolidated Employee Benefit Expense increased 22.6 percent y-o-y to Rs 234.46 million (6.3 percent of Total Income) in the current quarter from Rs 191.22 million (6.7 percent of Total Income) million but declined 3.9 percent q-o-q from Rs 243.97 million (7.2 percent of Total Income).

Consolidated Carriage sharing, pay channel and related costs in Q1-18 increased 5.1 percent y-o-y to Rs 1,560.55 million (42.1 percent of Total Income) from Rs 1,484.36.36 million (51.7 percent of Total Income) but declined 3 percent q-o-q from Rs 1,608/94 million (47.7 percent of Total Income).

Consolidated Finance costs in the current quarter increased 11.6 percent y-o-y to Rs 331.03 million (8.9 percent of Total Income) from Rs 296.71 million (10.3 percent of Total Income), but declined 2.1 percent q-o-q from Rs 338..02 million (10 percent of Total Income).

Consolidated Other expenses increased 30.7 percent y-o-y to Rs 841.78 million (22.7 percent of Total Income) in Q1-18 from Rs 643.83 million (22.4 percent of Total Income) and increased 11.2 percent q-o-q from Rs 757.12 million (22.5 percent of Total Income).

Also Read :

Rajesh Sethi re-designated chief  biz transformation officer of Siti Networks

Rajesh Sethi succeeds Wadhwa as ED & CEO of SITI Networks

SPN India-SITI Networks dispute: TDSAT directs SITI to sign SPN RIO agreement (updated)

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/04/Jio.jpg?itok=BodwQwwF
Jio & Hathway continue to lead wireless and wired Internet subs growth in 2018

India witnessed 1.74 percent growth in broadband internet customers in the month of April 2018 (Apr-18, month under review) according Telecom Regulatory Authority of India (TRAI) data for the month ended 30 April 2018. Hence, 71.90 lakh (7.19 million, 0.719 crore) broadband subscribers were added...

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/03/hathway.jpg?itok=XgUL_9ed
Hathway ropes in Sitendu Nagchaudhuri as new CFO

Leading cable operator Hathway Cable and Datacom Ltd has appointed Sitendu Nagchaudhuri as the new chief financial officer (CFO). The fellow chartered accountant’s experience in the field of corporate finance, commercial and strategy leadership spans over 27 years.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/mike.jpg?itok=trEApP9h
Sony to bring Pictures, TV division under one roof

Sony Pictures TV is set to merge international TV operations to bring its television networks, home entertainment and distribution businesses together. This shuffle may lead to some job cuts, with many senior executives from Sony having already departed.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/19/en.jpg?itok=D3gT426Y
DEN Network fixed-line b’band biz plan hinges on partnerships & leveraging present infra

MUMBAI: With telcos handing out data at cheap rates in various package sizes under innovative schemes, mobile data consumption has increased rapidly in India in the last few years, while the growth of fixed-line broadband (FLBB) users has been tepid, if not completely static. MSO DEN Networks now...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/15/den.jpg?itok=QQbrO9t0
DEN aims to convert 10% of SD subscribers to HD in a year

DEN Networks CEO SN Sharma has set a target of converting 10 per cent of its standard definition (SD) subscribers to high definition (HD) within a year.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/15/gtpl.jpg?itok=iHTj8qw9
GTPL Hathway appoints Viren Thakkar as new chief financial officer

GTPL Hathway , one of the major players in the Indian cable TV and broadband industry, has appointed Viren Thakkar as chief financial officer of the company. The appointment ,which will come into effect from 2nd July, was posted on the Bombay Stock Exchange (BSE) website.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/13/hathway.jpg?itok=j_Ps51Lv
Hathway plans to seed 2.5 lakh high definition set top boxes in FY19

Going along the lines of FY18, broadband and cable TV service provider Hathway Cable and Datacom is planning a Capex of Rs 310 crore in FY19. In addition to that, it plans to seed 2.5 lakh high definition (HD) set top boxes (STB) in FY19. The company had 2.16 lakh HD subscribers at the end of...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/05/gtpl.jpg?itok=f9kTo-vP
Jayanta Pani Resigns as CFO of GTPL Hathway

Jayanta Pani chief financial officer (CFO) of GTPL Hathway has decided to part ways with the company. Pani's last working day at GTPL, where he joined in November 2008, will be 30th June.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/01/tv.jpg?itok=Ky_blUZ3
VITEC and ATX join hands for distribution of IPTV content

VITEC, a worldwide leader in advanced video encoding and streaming solutions, and ATX Networks, a technology leader of optical and media access platforms, has announced a strategic partnership to provide a fully secure architecture for distribution of IPTV content throughout the enterprise network...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories