MAM

Siti Cable reports significant improvement in EBIDTA in Q2-2014

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/mam-images/2015/09/28/Siti.jpg?itok=e_Kmvqpq

BENGALURU:  The painstaking rollout of the digitisation of India's cable TV ecosystem and the depreciation of the rupee are taking their toll - both positively and negatively -  on national MSOs.  Take the case of Essel Group company Siti Cable Network Limited (Siti Cable), the erstwhile Wire and Wireless (India) Ltd (WWIL). Its latest quarter (Q2-2014) shows that the company has shown an improvement in its EBIDTA to Rs 32.98 crore which is 74 per cent higher than the previous corresponding quarter last fiscal.  It's bottomline is however stained red in  Q2-2014 with a negative PAT of Rs 21.87 crore, almost double (173 per cent) the negative PAT of Rs (-12.65 ) crore the company had reported during the corresponding quarter (Q2-2013) last year. However, the loss is lower than the Rs (-27.07) crore for the immediate preceding quarter (Q1-2014).  

Let us look at some other numbers for Siti Cable in Q2-2014

Operating revenue in Siti Cable's case is primarily generated from subscriber related income especially from digitisation, income from bandwidth charges, ad income, STB activation charges and other operating revenues.

The cable network reported total revenue of Rs 162.94 crore for Q2-2014, which was 56.7 per cent more than the Rs 103.98 crore for Q2-2013 and 12.9 per cent more than the Rs 144.29 crore in Q1-2014.

Total expenses for Q2-2014 at Rs 129.96 crore were 57 per cent more than the Rs 85.06 crore for Q2-2013 and 15 per cent higher than the Rs 113.1 crore for Q1-2014.

Siti Cable claims that it is the only MSO in India which shares 25 per cent carriage revenue with local cable operators. A big chunk of its expense is carriage sharing, pay channel and related costs in the latest quarter. The company spent Rs 65.46 crore in Q2-2014 towards this head, which was 21.7 per cent higher than the Rs 53.03 crore for Q2-2013 and six per cent more than the Rs 61.8 crore during the immediate preceding quarter Q1-2014.

 Siti Cable's main operating expenses include cost of goods and services, employees' cost, selling and distribution expenses and other expenditure. Its major cost item was cost of goods and services recorded as Rs 82.7 crore during the quarter (Q2-2014)  representing 51 per cent of the total revenue in comparison to Rs 62.15 crore in Q2-2013, representing 60 per cent of the total revenue.

Siti Cable’s Selling and Distribution Expense for Q2-2014 at Rs 12.42 crore was more than quadruple (424 per cent) the Rs 2.93 crore for Q2-2013 and more than double (225 per cent) the Rs 5.51 crore for Q1-2014. Its administrative expense at Rs 25.44 crore for Q2-2014 was almost double (95 per cent more) than the Rs 13.03 crore for Q2-2013 and 22.7 per cent more than the Rs 20.74 crore in Q1-2014.

Another major cost item was foreign exchange fluctuation due to Rupee devaluation during the Q2-2014, which has been recorded at Rs 7.69 crore, says the company; the corresponding figure for Q1-2014 was Rs 5.11 crore.

Siti Cable chairman Subash Chandra said, “The industry is at an inflexion point where creating the valuable ecosystem for all stake holders be it consumer, broadcaster or last mile local cable operators will ensure sustainable growth. We see immense opportunity for digitization in India in the years ahead.”

Siti Cable CEO V D Wadhwa said, “We are pleased to report a healthy performance in the second quarter of the year, our total revenue and EBITDA in the quarter grew to Rs 162.9 crore and Rs 33 crore, a growth of 57 per cent and 74 per cent respectively over last fiscal. Our growth was largely due to greater focus on subscription revenue despite low seeding of STB’s during the quarter. We shall continue to focus on business expansion and revenue maximization in coming quarter.”

Siti Cable informed BSE that the board of directors of the company at its meeting held on 23 October 2013, inter-alia, has approved the appointment of Anil Kumar Malhotra as manager of the company for a period of three years.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/World-Hyatt.jpg?itok=1fVpGiDt
MullenLowe's Hyatt campaign launched at Oscars

MUMBAI: Hyatt Hotels Corporation has announced the launch of World of Hyatt, Hyatt’s new global platform grounded in the simple idea that a little understanding goes a long way. This reflects Hyatt’s purpose and reaffirms its commitment to building genuine and trusted experiences and engaging its...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/Triangular-Plastic-Crayons_0.jpg?itok=kSW-xyE3
Kokuyo Camlin unveils funky stationery

MUMBAI: Kokuyo Camlin Ltd (formerly known as Camlin Ltd) premier stationery and art marketer recently launched funky and innovative products for school children. From the unique triangular plastic crayons to some other cool stationery products. Triangular Crayons!

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/Kabir-Bedi-Sightsavers.jpg?itok=YUzlGeRi
Kabir Bedi is Sightsavers' brand ambassador

MUMBAI: Sightsavers, a leading global development organisation working in over 30 countries to combat avoidable blindness and promote equal opportunities for visually impaired announced its association with internationally acclaimed actor and director, Kabir Bedi as its brand ambassador.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/Max-Emerging-Star-17.jpg?itok=xV7DmWkw
Max Fashion launches 'Max Emerging Star'

MUMBAI: Max, a leading international fast fashion brand, has announced its new property ‘Max Emerging Star’ which will serve as the perfect platform for India’s aspiring actors, dancers and fashion enthusiasts to fulfill their dreams and get groomed for superstardom. The contest is focused on the...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/Raj-Nayak%20%281%29.jpg?itok=8WKUGJMz
Abby Awards 2017 shortlists to be available for review

The iconic and pioneering Creative Awards - Abby 2017 has set another benchmark in transparency and efficacy. After receiving the highest ever number of creative entries, the first round of the prestigious Abby awards judging is presently on in multiple locations. The shortlists selected by the...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/star-plus%20%281%29.jpg?itok=a3XZn0Yb
Star Plus brings 'Nayi Soch' with Aamir for Women's day

MUMBAI: Star India has constantly endeavoured to inspire social change through its thought-provoking programming, and this mission is reflected in the journey of its ‘Nayi Soch’ (new thinking) campaigns, which have continued to positively impact millions of lives.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/Priyanka-Chopra.jpg?itok=GDkjmIHa
Delhi HC says it can't decide shampoo quality as stated in ads

NEW DELHI: A Delhi court has sent a message to petitioners that it would turn into a lab if it starts entertaining all claims made in media adverts by companies about their products.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/Rashmi-Daga_0.jpg?itok=UTWu6_tJ
#TrySomethingNew from FreshMenu.com

MUMBAI: FreshMenu.com, one of the leading online restaurants, recently launched its online campaign, #TrySomethingNew .The series features inspiring young individuals who have dared to try something different in their lives.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/Nishi%20Kant-800x800.jpg?itok=uIvLqDHm
Dentsu Webchutney ropes in Nishi Kant as EVP & Mumbai head

MUMBAI: Dentsu Webchutney, a digital agency from the Dentsu Aegis Network, has appointed Nishi Kant as EVP & Branch Head- Mumbai. Kant will lead the charge for the agency’s Mumbai office. He will be reporting to Dentsu Webchutney co-founder & CEO Sidharth Rao. This is Nishi’s second stint...

MAM Media and Advertising People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories