WWIL narrows net loss in FY’11

MUMBAI: Wire and Wireless (India) Limited (WWIL) has narrowed its consolidated net loss to Rs 659.2 million for the full-fiscal ended 31 March 2011 compared to a loss of Rs 1.756 billion a year ago, as expenses have dipped with the multi-system operator (MSO) discontinuing its Headend-In-The-Sky (HITS) programme.

Consolidated operating revenue has grown 12 per cent to Rs 3.06 billion (from Rs 2.73 billion), while expenses have dropped 17 per cent to 3 billion.

The company targets a 30 per cent growth in revenue this fiscal, crossing the Rs 4-billion mark.

WWIL posted a consolidated operating profit (Ebitda) of Rs. 163.6 million in FY’11, turning around from an operating loss of Rs. 631.6 million in the fiscal ended 31 March 2010.

Said WWIL chairman Subhash Chandra, “WWIL continues to show improved operational performance with a positive Ebitda for the year; they have effectively managed strategic expansions in new geographies via analogue and digital mode.”

WWIL has consolidated its presence through strategic expansions in Uttar Pradesh and Hyderabad. 
For the fiscal fourth-quarter ended 31 March 2011, WWIL has narrowed its consolidated net loss to Rs 118.1 million, from Rs 527.8 million in the year-ago period.

The Ebitda for the three-month period was at Rs. 87.2 million compared to a loss of Rs 324.1 million in the earlier-year.

The company’s consolidated operating revenue jumped 29.8 per cent to Rs. 885 million compared to Rs. 676.3 million during the corresponding period of the previous year.

Operating expenses for the quarter under review descended by 17 per cent to Rs 869 million (Rs 1.05 billion earlier).

Said WWIL CEO Sudhir Agarwal, “We have consolidated our existing analogue business by making it more stable and profitable with continued focus on building processes, increased collections and strategic cost reduction initiatives. These initiatives have lead to a majority of our analogue units becoming self-sustainable.”

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