Mumbai: NXTDigital Ltd, the media vertical of the global Hinduja Group and an integrated digital distribution platform delivering services through digital cable television, HITS (Headend-In-The-Sky) and broadband, continued to leverage innovation and strategy to combat the challenges of the second wave to post strong results for the quarter ending 30 June.
On a consolidated basis, the company’s revenues grew by 13.5 per cent in the first quarter of the current financial year 2021-22 to Rs 266.6 crore against revenues of Rs 234.8 crore during the same period in the previous year. The broadband business continued to grow touching 6.7 lakh subscribers which amounts to 93 per cent growth over Q1 FY21.
Several contracts in the video and broadband segments of business which got delayed due to the second wave were signed by the company.
"The Q1 performance exhibits the company’s agility and reflexes – being able to innovate and maintain its momentum through a quarter impacted by the second wave," said NXTDigital Ltd, MD & CEO, Vynsley Fernandes. "With the situation easing up, we are confident that implementation of our PaaS platform and the roll-out of our 100 NXTHUB project will see traction. Whilst we look to commence our infra sharing model with Siti Networks and then extend it to other MSOs, our 100 NXTHUB launch later this month from Ranchi and then on to other geographies, will continue to keep us well on the growth track."