Cable TV

Siti Networks reports higher revenue, operating profit for Q2-18

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2017/11/03/rajesh.jpg?itok=vZkZUIb_

BENGALURU: Siti Networks Limited (Siti) reported higher revenue and operating profit (EBIDTA) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter – Q2-17 (y-o-y). However, loss for the current quarter was higher year-on-year.

Siti reported 21.9 percent y-o-y growth in operating revenue for Q2-18 at Rs 3,523.08 million as compared Rs 2,889.67 million. Total Income (including other income) for the current quarter increased 22.3 percent higher y-o-y at Rs 3,562.64 million that Rs 2,913.17 million in Q2-17. Revenues grew mainly on account of higher subscription revenue partially set off by a decline in carriage revenue.

Operating EBIDTA for Q2-18 was 41.9 percent higher y-o-y at Rs 671.75 million as compared to Rs 473.37 million, while overall EBIDTA increased 43.1 percent y-o-y to Rs 711.31 million from Rs 497.07 million. The company reported a higher loss of Rs 524.25 million in Q2-18 as compared to a loss of Rs 354.73 million.

While commenting on the results, Siti’s chief business transformation officer Rajesh Sethi said, “Siti displayed strong growth in video as Q2 subscription income jumped 21 percent q-o-q and 52 percent y-o-y with overall collection efficiency improving to 93 percent for H1FY18. We continue to improve monetization levels and leverage our customer base in Phase 3 and 4 territories. An emphasis on cost optimization and instilling a lean culture is expected to drive efficiencies across the board and further aid the bottomline. At the same time, an organizational restructuring is underway to evolve Siti into a more nimble and effective organization. In Broadband, focus on further enhancement of service levels to retain customers and new geographies expansion is expected to drive growth along with overall improvement in the pricing environment.”

Breakup of revenue (rounded off) and subscriber matrices

Siti reported 51.9 percent y-o-y growth in subscription revenue to Rs 2,050 million from Rs 1,350 million. Carriage revenue declined 6.6 percent y-o-y to Rs 710 million from Rs 760 million. Activation revenues increased 15.8 percent y-o-y to Rs 440 million from Rs 380 million, but were sharply lower than the Rs 850 million in the immediate trailing quarter (Q1-18). Siti has a cable subscriber base (analogue and digital) of 13.2 million. The company had converted 1.6 million of its existing subscribers to digital in Q1-17 as compared to less than half that number in Q2-17 (0.7 million). Siti’s active video subscriber base was 11.1million in Q2-18, while it was 10.6 in Q1-18. It’s HD subscriber base increased by 34,000 in Q2-18 to 254,000 from 230,000 in Q1-18.

Broadband revenue was flat (grew 2.2 percent) y-o-y at Rs 250 million. The company has witnessed a slight decrease in its broadband subscriber base to 238,000 in the current quarter from 240,000 in the immediate trailing quarter Q1-18.

Let us look at the other numbers reported by the company

Total expenditure increased 22.9 percent y-o-y to Rs 4,013.93 million from Rs 3,268.10 million. Finance costs increased 32.7 percent y-o-y to Rs 371.49 million from Rs 280.02 million. Carriage sharing, pay channel and related costs increased 16.9 percent y-o-y to Rs 1,676.01 million in Q2-18 from Rs 1,434.08 million. Employee benefits expense in the current quarter increased 9.9 percent y-o-y to Rs 227.47 million from Rs 206.98 million in the corresponding year ago quarter. Other expenses increased 25 percent y-o-y in Q2-18 to Rs 942.86 million from Rs 754.09 million.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/30/gtpl.jpg?itok=Av-oypkq
Decoding Covid2019 impact on GTPL Hathway’s cable, broadband business

As the country is struggling with the Covid2019 pandemic, cable TV and internet have acted as the nervous system to keep people informed and entertained. Due to the need of staying connected, the cable and broadband service providers like GTPL Hathway have seen a surge in demand on both sides of...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/29/gtpl.jpg?itok=fjglLOcU
GTPL Hathway increases CAPEX in upgrading network, 70% transmitted into GPON technology

Traditional distributors like cable operators are feeling the heat of the competition from a number of easily accessible streaming services. But large multi-system operators are not sitting idle to watch the ruin of their long-built businesses. Hence, constantly upgrading has become the key to...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/28/tv.jpg?itok=ElAhdpKX
Lockdown impact on cable operators: Drop in STB sale and collection from connections

Despite higher viewership of linear television during the lockdown, the cable operators’ business in India has felt the heat of the Covid2019 pandemic. While sales of new set-top boxes and collection for existing connections witnessed a drop, customers down-traded packs.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/18/brdss.jpg?itok=H0CHPDjq
BRDS Digital Cable TV & Broadband Services celebrates 25 Years of Cable TV Entertainment Service!

Entertainment is the art of instilling happiness away from the reality of lives. Having served as a medium of entertainment since its inception, Bhima Riddhi Digital Services (BRDS), now Metrocast Network India Pvt. Ltd., is celebrating 25 successful years of providing cable TV entertainment. What...

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/16/cable.jpg?itok=sBfryZqA
Cable operators seek discounted tariffs from pay channels

MUMBAI: Maharashtra Cable Operators' Foundation (MCOF) has requested Indian Broadcasting Foundation (IBF) to urge its members – the pay channels – to offer discounted pay tariffs, if not waiving them altogether, for a period of four months from 20 April to 20 August. The MCOF has primarily cited...

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/11/q.jpg?itok=THMac0cF
We are not a cable TV company but a digital services provider: IMCL’s Vynsley Fernandes

MUMBAI: Innovation is the key to sustain any business. With newer entrants capturing market share, emerging alternatives to traditional TV, the cable operators in the country have focused on creating a diverse portfolio of services. IndusInd Media and Communications Ltd. (IMCL) CEO Vynsley...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/05/tal.jpg?itok=IIDiXBU_
ZEEL lauds DPOs, urges online payment mechanisms via multilingual campaigns

In these difficult times caused by the Covid2019 pandemic, entertainment and information keep floating into our television sets despite the shelter-in-place mandate. Although the TV viewership growth slowed down in the sixth week of the Covid2019 disruption, it is evident that audiences across...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/01/mcof.jpg?itok=HhDs6hvI
MCOF seeks government relief for last-mile cable operators

In the wake of the Covid2019 crisis, Maharashtra Cable Operators Foundation (MCOF) has written a letter to the union minister of information and broadcasting Prakash Javadekar submitting its propositions for long-term relief and transformation of the last-mile cable operators. 

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/04/24/hat.jpg?itok=v2wSEeq6
Cable business drives Hathway’s return to profitability

Mukesh Ambani’s Reliance Industries Limited-owned Indian multi-system operator and internet services provider Hathway Cable and Datacom Limited (Hathway) reported consolidated profit after tax (PAT) of Rs 105.47 crore for the year ended 31 March 2020.

Cable TV Multi System Operators

Sign up for our Newsletter

subscribe for latest stories

* indicates required