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ACT Fibernet seeks funding; discloses financials

ACT Fibernet seeks funding; discloses financials

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MUMBAI: In its prospectus with SEBI, ACT Fibernet submitted the financial details and is looking for fund-raising to expand the business across India. ACT Fibernet reported revenue of Rs 1,217 crore and EBITDA of Rs 211.67 crore in fiscal 2017.

In the six months ended 30 September 2017, the revenue was Rs 684 crore and EBITDA was Rs 286 crore. In fiscal 2016, ACT Fibernet posted revenue of Rs 874 crore and EBITDA of Rs 323 crore. Moreover, in fiscal 2015, it registered the revenue of Rs 618 crore and EBITDA of Rs 468 crore.

According to the reports, ACT Fibernet had approximately 1.28 million wired broadband internet customers and 0.71 million cable TV customers as at 31 December 2017. It reported a monthly ARPU of Rs 813 in fiscal 2017, Rs 756 in fiscal 2016 and Rs 684 in fiscal 2015 from retail wired broadband internet business.

The wired broadband internet market is expected to grow from 18.1 million subscribers as at 31 December 2016 to 24 million by 31 December 2021, according to a study by MPA.

Revenue from wired broadband internet service business accounted for 82.77 per cent, 90.31 per cent, 91.61 per cent and 91.38 per cent of total income for fiscals 2015, 2016 and 2017 and the six months ended 30 September 2017 respectively.

Revenue from cable TV service business accounted for 11.86 per cent, 6.13 per cent, 4.61 per cent and 5.21 per cent of total income from operations for fiscals 2015, 2016 and 2017 and the six months ended 30 September 2017 respectively.

Standing at the third largest position across the wired broadband internet service provider in India, the company bags the market share of 6.9 per cent as at 30 September 2017 according to MPA. Its fibre broadband network covers 5.4 million plus residential homes in the markets in which it operated as at 30 September 2017, according to MPA.

ACT Fibernet said it invested significantly to develop fibre broadband network. The majority of the fibre network utilises an advanced Metro Ethernet Active FTTX technology. It also utilises GPON technology in certain parts of the network.

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