Cable TV

Siti numbers improve on optimisation of major matrices

Total expenses to Total Income ratio declined year-to-date

BENGALURU: Indian leading multi-system operator (MSO) Siti Networks Limited (Siti) reported 7.8 percent increase in revenue from operations at Rs 1,210.29 crore for the nine month period ended 30 December 2019 (9M 2020, YTD 2020) as compared to the Rs 1,122.71 crore for the corresponding nine month period of the previous year (9M 2019, previous nine month period).  The company’s total expense for 9M 2020 increased 4.9 percent to Rs 1,330.30 crore (108.8 percent of Total Income) from Rs 1,267.81 crore (111,6 percent of Total Income) in the previous nine month period. Siti’s total expense across all major heads decreased 7.7 percent in 9M 2020, as compared to 9M 2019, but for pay channel, carriage share and related costs which increased by Rs 120.94 crore or 23.7 percent.

Sit reported a lower loss of Rs 117.87 crore in 9M 2020 as compared to a loss of Rs 140.36 crore in 9M 2020.

Siti claims in its earnings release that 9M 2020 operating EBITDA surged 1.24 times over similar duration of last fiscal, to Rs. 267.6 crore. The company attributes this jump to strict control over expenses and operating efficiencies. Siti says that its operating EBITDA Margin for 9M 2020 also expanded by 1.1 times y-o-y to 22 percent.

Siti says its subscription revenue for 9M 2020 grew 19.5 percent y-o-y to Rs. 868.7 crore, aided by the strong growth. Subscription ARPU  leapt 1.8 times to Rs.128 per month. Total Revenue (excluding activation) also surged 12.7 percent y-o-y to Rs. 1218.9 crore for the same period.

Siti CEO Mr Anil Malhotra said: “We are focused on working closely with

our distribution partners for increased sweating of ground assets further through introduction of allied value-added services for our customers Siti Broadband with Zee 5, India’s fastest growing OTT app, gives both partners an opportunity to scale up our business ambitions, creating value for all our stakeholders with a focused and strategic approach."

Let us look at the other numbers reported by the company

Total Income for 9M 2020 increased 7.6 percent y-o-y to Rs 1,222,26 crore from Rs 1,135.11 crore in 9M 2019. Pay channel, carriage sharing and related costs in 9M 2020 increased 23.7 percent y-o-y to Rs 631.14 crore from Rs 510.20 crore. Employee benefits expense in 9M 2020 declined 7.6 percent y-o-y to Rs 57.83 crore from Rs 62.61 crore.  Finance costs in 9M 2020 reduced 3.1 percent y-o-y to Rs 122.16 crore from Rs 126.05 crore. Other expense in 9M 2020 reduced 10 percent y-o-y to Rs 261.17 crore from Rs 290.35 crore.

Numbers for Q3 2020 as compared to Q3 2019

For the quarter ended 31 December 2019 (Q3 2020, quarter under review), revenue from operations increased 4.3 percent y-o-y to Rs 402.60 crore from Rs 385.92 crore in Q3 2019. Total Income increased 4.6 percent in the quarter under review to Rs 407.94 crore from Rs 390.11 crore. Loss for Q3 2020 at Rs 33.56 crore was lower than loss of Rs 35.41 crore in Q3 2019.

Total expense in Q3 2020 increased 4.9 percent to Rs 442.17 crore from Rs 421.70 crore, Excluding pay channel, carriage sharing and related costs, expenses in Q3 2020 declined 10.6 percent to Rs 227.75 crore from Rs 254.72 crore in Q3 2019. Employee benefits expense in Q3 2020 declined 9.5 percent to Rs 18.75 crore from Rs 20.71 crore in Q3 2019. Finance costs in Q3 2020 reduced 7.5 percent to Rs 38.06 crore from Rs 41.13 crore. Other expense in Q3 2020 decreased 13.4 percent to Rs 84.28 crore from Rs 97.33 crore.

Latest Reads
Ambani’s Reliance merges media & distribution biz under Network18

MUMBAI: When you are Mukesh Ambani, you think size,  you think scale. Even as speculation is running rife whether a deal with Sony Pictures is on, the chairman & managing director of Reliance Industries yesterday announced that the megacorp is consolidating its media and distribution entities...

Cable TV People
NXTDIGITAL reports total income of Rs 938.68 cr for 9 months ended 31 Dec

NXTDIGITAL Ltd on Monday reported its financial results for the third quarter and nine months ended 31 December 2019. On a consolidated basis, the company reported a total income of Rs 938.68 crore for the nine months ended 31 December, 2019 as against a total income of Rs 527.36 crore for the...

Cable TV Multi System Operators
Cable Operators Welfare Federation counters IBF’s comments regarding NCF and NTO 2.0

MUMBAI: The Cable Operators Welfare Federation (COWF) has countered the IBF’s claims regarding NCF. The IBF had said that by keeping NCF at Rs 160, distributors could charge for something that DD Free Dish is giving out free. COWF said that DD Free Dish is run on taxpayers’ money and channels pay a...

Cable TV Local Cable Operators
Hathway back on growth trajectory, reports consolidated profit of Rs 68 cr in Q3

MUMBAI: After facing consecutive losses, Hathway Cable and Datacom has reported a consolidated profit of Rs 68.18 crore in the third quarter of the financial year 2019-20. The multi-system operator (MSO) had posted consolidated loss of Rs 57.87 crore in the corresponding quarter of the last...

Cable TV Local Cable Operators
Den Networks reports profitable Q3 2020

Indian cable network and broadband company Den Networks Ltd (Den) reported consolidated profit after tax (PAT) of Rs 12.28 crore for the quarter ended 31 December 2019 (Q3 2020, quarter or period under review) as compared to a loss of Rs 31.21 crore for the corresponding year ago quarter (Q3 2019,...

Cable TV Multi System Operators
MSOs on distribution challenges post NTO

The internet has given choice to consumers to select packages and watch content of their choice. A rapid increase in the viewership on mobile and OTT platforms on a daily basis has become a threat to the DTH and cable distribution ecosystem.

Cable TV Multi System Operators
LCOs and new tariff order challenges

With the evolution of television, cable industry has gone through various challenges from competing with DTH operators to digitisation to NTO. Although implementation of NTO was the biggest challenge for the cable industry, it managed to overcome all the challenges they came across.

Cable TV Local Cable Operators
TiVo to merge with Xperi Corp

Late last week, Xperi Corp  and TiVo Corp announced that they have entered into a definitive agreement to combine in an all-stock transaction, representing approximately $3 billion of combined enterprise value.

Cable TV Local Cable Operators

Sign up for our Newsletter

subscribe for latest stories