Cable TV

Siti Networks revenue, operating profit up in fiscal 2018

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/05/18/Rajesh_Sethi.jpg?itok=P3cn2JzH

BENGALURU: Backed by higher subscription revenue and a 95 per cent collection efficiency, Indian multi-system operator (MSO) Siti Networks Ltd (Siti) posted 16.8 per cent higher consolidated total income for the year ended 31 March 2018 (FY 2018, year under review) as compared to the previous fiscal year FY 2017. Siticable has clarified that the revenue numbers for FY 2017 reflect gross billing that included LCO share to the extent of Rs 16-17 crore. Based on a figure of Rs 16 crore, Siticable’s consolidated total income for fiscal 2018 grew 18.4 percent as compared to the previous year.

Siticable’s operating profit (simple EBITDA including activation revenue) for FY 2018 increased 52.1 per cent as compared to FY 2017. Total comprehensive loss (TCL) for the year was lower as compared to the previous year. It must be noted that all numbers mentioned in this report are consolidated unless stated otherwise.

Siti’s consolidated total income in FY 2018 was Rs 1,426.37 crore as compared to Rs 1220.81 crore in FY 2017. Consolidated operating revenue in fiscal 2018 increased 18 per cent to Rs 1,410.40 crore from Rs 1,194.92 crore in FY 2017. Siti’s consolidated operating EBITDA (including activation revenue) during the year under review increased 52.1 per cent to Rs 308.55 crore (21.9 per cent of operating revenue) from Rs 202.81 crore (17 per cent of operating revenue) in FY 2017. The company reports that excluding activation revenue, operating EBITDA in FY 2018 grew 2.6 times to Rs 151 crore as compared to Rs 59 crore in the previous year. EBITDA including other income and activation fee in FY 2018 grew 41.9 per cent to Rs 324.52 crore (22.8 per cent of total income) from Rs 228.70 crore (18.7 per cent of total income) TCL including non-controlling interest during the year under review was lower at Rs 169.51 crore as compared to Rs 179.01 crore in FY 2017.

Siti claims that it added industry leading 3.1 million (0.31 crore or 31 lakh) digital cable households in FY 2018 taking its active digital subscriber base to 11.5 million (1.15 crore or 115 lakh). Siti says in its earnings release that subscription revenue in FY 2018 increased 41 per cent y-o-y to Rs 800 crore and was the main driver for revenue growth.  

Let us look at the other numbers reported by Siti

Siti’s consolidated total expenditure (TE) increased 15.2 per cent in FY 2018 to Rs 1,567.56 crore from Rs 1,360.74 crore in fiscal 2017. Adjusting the Rs 16 crore payout to LCOs in FY 2017, TE in FY 2018 increased 16.6 per cent as compared to FY 2017. Carriage sharing, pay channels and related costs are the highest expense head for the company. Carriage sharing, pay channels and related costs in FY 2018 increased 6.8 per cent to Rs 637.90 crore from Rs 597.13 crore in FY 2017. Employee benefit expense during the year under review increased 8.6 per cent to Rs 90.49 crore from Rs 83.29 crore in the previous year. Other expense in fiscal 2018 increased 25.3 per cent to Rs 370.13 crore from Rs 295.47 crore in FY 2017.

Company speak

While commenting on the results, Siti chief business transformation officer, Rajesh Sethi said, “We at Siti are proud of our performance for this past year as we enter FY 2019 with significant momentum. In FY 2018 we have achieved strong operational and financial results while also delivering superlative customer experience and must-see content to our approximately 55 million strong consumer base across the country. Our continued focus on customer experience drove exceptional EBITDA growth (2.6x) coupled with industry leading subscriber additions (3.1 million, 0.31 crore, 31 lakh).”

“We continue to maintain our steady increase in customer additions, driving efficiencies through war on waste, balanced with solid EBITDA growth and expanding margins. We continue to transform into a process driven organisation with customer experience at its heart. As we achieve more from less, our year-over-year growth rates of revenue and EBITDA continue to accelerate, which is a testament of our transformation efforts across SITI,” added Sethi.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/09/kerala.jpg?itok=sAb2H5Tl
Kerala Vision partners Y&A Transformation for new revenue streams

After establishing itself in Kerala with 24 lakh TV homes, Kerala Vision Cable (KV) is looking to expand its revenue streams.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/09/Den-Networks-Cable.jpg?itok=Ucbf4rMI
Reliance Jio acquires another 12% of Den Networks

Under disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST), three Reliance Jio companies have informed the stock exchanges that they have increased their holdings in Indian multi system operator (MSO) Den Networks from 66.57 percent to 78.62 percent or...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/06/tv.jpg?itok=v_CYMzY1
Cable subscribers switching to DTH platforms amid new tariff order implementation

While the Telecom Regulatory Authority of India (TRAI) continues to reiterate that its new tariff order will benefit all stakeholders of the cable and broadcasting industry, implementation of the new norms has witnessed a mixed response on the ground.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/01/ortal.jpg?itok=DguSYgTT
Ortel CFO Satyanarayan Jena steps down

Satyanarayan Jena, the chief financial officer of the MSO Ortel Communications has stepped down. The resignation of the executive was effective from yesterday.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/26/mix.jpg?itok=1i2adFdQ
One Take Media Co launches K-World first time in India on IMCL platform

Leading multi-system operator (MSO) and Headend-in-the-sky (HITS) platform company IndusInd Media & Communications Limited (IMCL) has partnered with One Take Media Co (OTMC) to launch K-World (Korean Language) first time in India.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/14/DPOs.jpg?itok=OUJxjEM3
Guest Column: The way forward for DPOs, broadcasters in the new TRAI tariff regime

During the early 2000s, cable television began to spread rapidly across India and the cable distribution business rapidly shifted from the early muddled phase towards a more corporate structure which put emphasis on the rationalisation of business practices, billing system transparency and...

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/13/gtpl_hathway.jpg?itok=gGGIpOfc
GTPL cable TV business revenue up; broadband business keeps afloat

Indian multi-system operator and internet service provider GTPL Hathway Ltd (GTPL) reported 12.6 percent increase in total income for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y) Q3 2018. GTPL’s Total Income...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/13/TV_REMOTE.jpg?itok=93_cgpDz
TRAI steps in after 24% homes lose complete access to all pay channels

The Telecom Regulatory Authority of India (TRAI) on Tuesday extended the deadline for consumers to select television channels under its new tariff regime till 31 March The subscribers that don’t opt for new channels would be moved to ‘Best Fit Plans’, which would be developed as per usage pattern...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/09/Vynsley-Fernandes.jpg?itok=UKAu6IuE
IMCL highly optimistic about impact of tariff order on business

Indusind Media & Communications Ltd (IMCL), the Hinduja Ventures Ltd (HVL) subsidiary, is highly optimistic about the impact of the new tariff order on its business. The MSO asserts that the new regime ensures a more equitable distribution of economic benefits in the value chain.

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories