(24 January 2009 11:00 pm)

MUMBAI: Wire and Wireless India Limited (WWIL) is planning to roll out its Headend-In-The-Sky (HITS) service soon after completing a successful trial run, a senior executive in the company said.

“In a major initiative, that is going to change the complete landscape of media distribution, we would be the first company in Asia to launch HITS in the current fourth quarter of FY'09. HITS would provide a complete array of digital video and audio programming needed for a comprehensive bouquet of broadcast channels," said WWIL CEO Sudhir Agarwal.

WWIL is planning to raise Rs 4.5 billion through a rights issue to fund its expansion programme which would include digitalisation, set-top box subsidies and intensive roll out of HITS.

WWIL posted a consolidated net loss of Rs 226.7 million for the quarter ended 31 December 2008, as against a loss of Rs 284.8 million in the prior year period.

During this period, operating revenue grew 16.2 per cent to stand at Rs 817.9 million, up from Rs 703.6 million. The revenue is generated primarily from subscriber related income and sale of set-top boxes, amongst others.

Expenditure during the quarter has increased 10.2 per cent from Rs 735.3 million to Rs 810.2 million.