Mumbai: On a consolidated basis, Nxtdigital has registered a revenue growth of 5 per cent year-on-year to Rs 279.1 crore for the quarter ended 30 June, as against Rs 266.6 crore for the corresponding quarter of the previous year, according to the company's statement.
The company announced its results for the first quarter of the current financial year FY23 during its board meeting. It achieved earnings before interest, depreciation & taxes (EBIDTA) of Rs 54.1 crore, a growth of 6 per cent year-on-year for Q1 of the financial year 2022-23 as against Rs 51.2 crore for the corresponding quarter of the previous year and Rs 56.5 crore (excluding profit on the sale of land) for the previous quarter.
The wired subscriber base, including video and broadband, has grown by 10 percent year-on-year; closing the quarter at 5.3 million homes connected, against 4.8 million last year.
Nxtdigital managing director & CEO Vynsley Fernandes said “Our strategy for this fiscal is to continue to leverage our expanding digital product portfolio, vast national footprint, and emerging technologies to drive growth. Our approach is to garner a greater share of the customer wallet across multiple services rather than focusing on average revenue per user (ARPU) growth of individual product verticals.”
He further added, “On the other hand, we are putting our might behind our emerging technologies offerings like broadband-over-satellite as we look to expand our digital services even beyond India.”
The growth factors
The company has made significant progress on broadband-over-satellite; post a binding MOU with Thaicom Public Company Ltd. which provides broadband-over-satellite and related services in India.
Nxtdigital's focus on rapidly building out digital products and solutions to cater to changing consumer preferences and market dynamics, while continuing to strengthen its customer footprint across the country, was the most important factor in its growth.
The company covers over 4,500 pin codes in over 1,500 cities and towns, offering a variety of digital products such as digital television, broadband, and OTT.
Its unique integrated product of digital television, broadband, and over-the-top (OTT) drives customer retention, while the aggregator-based "Strategic Alliance Partner" model continues to attract more ISPs to its broadband vertical.