Cable TV

NXTDIGITAL’s revenue grows by 3.4% to Rs.234.82 crore in Q1

The Company posted an EBIDTA of Rs.50.36 crore for the quarter

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/09/08/nxt.jpg?itok=fpL8yBPR

KOLKATA: NXTDIGITAL announced its results for the first quarter of the current financial year – a quarter that was significantly impacted by the Covid2019 pandemic. Against this challenging backdrop, the company continued its growth story, with revenues for Q1 standing at Rs. 234.82 crores.

On a consolidated basis, revenues grew by 3.4 per cent on a sequential basis over the previous quarter and 2.7 per cent over the same quarter of the previous year. The company posted an EBIDTA of Rs.50.36 crore for the quarter; posting a growth of 99 per cent on a sequential basis over the previous quarter and 2.6 per cent on a year-on-year basis. 

The company has not only been able to maintain its subscriber base but even grow its video and data businesses, in spite of the serious negative sentiments of the pandemic. It has maintained its collection efficiency of over 99.5 per cent under its prepaid collection model.

The board considered  a capital raising exercise in the agenda and has constituted a committee of directors to analyse and explore various options including Preferential Allotment, Rights Issue or such other means as the Board may consider appropriate for an amount up to Rs.500 crore.

Performance Drivers

NXTDIGITAL launched a series of key initiatives during Q1 to counter the challenges of the pandemic, while ensuring the safety of all its personnel, its franchisees and other ecosystem partners. The company looked to focus on three key aspects during the difficult quarter.

Accelerated “digital payment” adoption by subscribers – the company worked actively to ensure nation-wide adoption of “digital” and “contactless” subscription collection models. Over 85 per cent of the franchisee base, today collects subscriptions from customers digitally, including using “Easebuzz”, a digital collection platform that NXTDIGITAL partnered with, even before the lockdown was implemented.

Focused on content innovation to ensure subscribers remained connected and had access to their favorite content – launched innovative content packages like the “Vishesh Manorajan Pack” where customers could enjoy over 400 channels for a small fee; while facilitating a credit period for Local Cable Operators (LCOs) facing challenges to physically collect

NXTDIGITAL Ltd. CEO Vynsley Fernandes reiterated that “As an essential service providing critical video and data connectivity, it was and is imperative to step up and deliver uninterrupted services to customers whilst ensuring, without exception, the safety of our personnel, our partners and the ecosystem. The performance in Q1 against the challenging backdrop is a reflection of those carefully thought out and implemented strategies, consistent innovation, and singular commitment to our customer base.”

Vision for Growth

NXTDIGITAL continues to focus on consolidating and growing its serviced subscriber base, expected to cross 10 million; including onboarding of more than 5 million of managed services customers. The potential base for managed services stands at over 69 million cable TV customers today – comprising smaller independent and regional MSOs. A significant portion of these customers are in semi-urban, semi-rural and rural markets; where the company has a growing presence by virtue of being able to deliver digital services to any part of the country through its HITS platform.

It is also developing innovative products and solutions to leverage the onset of the festival season and help customers derive maximum value. The “NXTGO” solution is an innovative dongle-type device that can be plugged into an OTT Set Top Box (STB) or an Android-based television and provide immediate access to “live” television channels - securely. The “NXTCONNECT” STB, a next-generation solution, is a single device for customers to access “live” television channels, OTT content, social and other apps, games, and much more.

The company is also working with partners to launch a Cloud-based mobile app - allowing customers to gain easy access to local services in their community, managed by NXTDIGITAL LCOs. The objective is to build a strong ecosystem of local merchants around the LCO – connecting merchants to consumers, seamlessly; thereby facilitating a new revenue stream for its thousands of LCOs.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/05/18/nxtdigital.png?itok=TPRVB3iS
Nxtdigital records revenue of Rs 1152.19 crore for FY22

Nxtdigital Ltd on Wednesday announced the results for financial year 2022. The media and communications company recorded revenue of Rs 1,152.19 crore for the year ending 31 March, registering a growth of 14.3 per cent year-on-year.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/05/02/mib-800.jpg?itok=3OMFXKox
MIB cancels three MSO licenses in April

Mumbai: The ministry of information and broadcasting (MIB) reported that there are 1761 registered multi-system operators (MSOs) as of 30 April compared to 1763 registered MSOs on 22 March. The ministry granted one new license, cancelled three licenses and rejected two applications for license in...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/17/gtpl-hathway.jpg?itok=3SIL5iKD
GTPL Hathway to maintain FY22 revenue and EBIDTA growth in FY23

GTPL Hathway saw 12 per cent growth in revenues at Rs 24,154 million and four per cent increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs 5,677 million year-on-year in FY22. The company expects to maintain this growth rate for the current financial year i.e.,...

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/16/hathway.jpg?itok=pT1Q6igi
Hathway Cable and Datacom reports revenue of Rs 1,793 crore in FY22

Mumbai: Hathway Cable and Datacom Ltd reported gross revenue of Rs 1,793 crore in FY22 an increase of four per cent over FY21. Its broadband revenue stood at Rs 621.9 crore while CATV revenue stood at Rs 1171.1 crore for the financial year. The company reported profit after tax of Rs 130.4 crore a...

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/14/den.jpg?itok=o65QPVOs
Den Networks reports revenue of Rs 1,226 crore for FY’22

Cable TV distribution company Den Networks has released its financial results for the fourth quarter 2022 on Thursday.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/09/img_09042022_132334_800_x_800_pixel.jpg?itok=xgFHelen
GTPL Hathway closes FY22 as largest MSO; revenue at Rs 24,154 million

Mumbai: GTPL Hathway witnessed revenue growth (excluding EPC) of 12 per cent year-on-year (YoY) at Rs 24,154 million. The profit after tax grew by six per cent YoY at Rs 2,006 million, according to the company's financial results for the year FY22 shared on Friday.  It ended the year by adding 400K...

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/25/gtpl22.jpg?itok=byIONeu3
GTPL Hathway ropes in Verimatrix for secure Android TV rollout

Mumbai: Digital cable TV and broadband service provider GTPL Hathway Ltd (GTPL) has announced its partnership with Verimatrix leveraging the latter’s Video Content Authority System (VCAS) to protect its Google Android TV-based DVB hybrid set top box. Verimatrix (Euronext Paris: VMX) helps power the...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/16/nxt-digital.jpg?itok=cH3T6s8y
NxtDigital board approves merger with Hinduja Leyland Finance

At its meeting on Wednesday, the board of directors of NxtDigital Ltd (NDL) has accorded an in-principle approval for merger of Hinduja Leyland Finance Ltd (HLFL), a non-banking finance company into NDL, subject to all statutory or regulatory approvals and approval of the shareholders.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/13/img_13032022_225139_800_x_800_pixel.jpg?itok=PF89rD7f
Hathway Digital onboards industry veteran Tavinderjit Panesar

Mumbai: Industry veteran Tavinderjit Panesar has joined Hathway Digital as head of strategic initiative and broadcast partnerships.  In this role, he will be responsible for content buying and placement strategy, driving new strategic initiatives, managing operations in select markets, governance,...

Cable TV People