Television

SITI Networks declares superlative growth on quarterly and y-o-y basis

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/11/01/siti.jpg?itok=EDQ5OMuA

MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group company, with 55Mn+ consumers and presence across 580+ locations in India, has released its Consolidated Financial Results for Q2FY19, ending September 30, 2018, showcasing superlative growth across all metrics, both quarterly and year-on- year.

SITI’s Operating EBITDA grew 2.52x over second quarter of last fiscal, a 24% quarterly growth, and the highest in last 10 quarters to Rs. 682 Mn. SITI’s Operating EBITDA Margin also expanded by 2.1x to 18.2% in Q2FY19.

Subscription revenue surged ~ 1.25x to Rs. 2,548 Mn in Q2FY19, aided by the strong growth in Digital Subscription ARPU, which leapt 19%. This ARPU growth is across DAS phases, with SITI’s strong presence in Phase 3 and 4 showing 27% and 43% growth respectively.

On quarterly basis, SITI has demonstrated a significant growth on all the financial metrics. Operating EBITDA has jumped by 1.24x while Operating Margins expanded 150 bps over the previous quarter. Subscription Revenue registered a sharp growth of ~19% sequentially over the last quarter. With consistent focus on last mile operations, SITI achieved subscription collection efficiency of 95%.

In the quarter ending September 2018, SITI continued its new customer acquisitions by adding 3 lakh new Digital Subscribers, with current Active Subscriber base at 11.75 Mn. SITI has launched PlayTop, its 1st Hybrid Set Top Box, in line with its “Customer First” strategy. SITI will be introducing a range of innovative converged offerings over the coming quarters.

SITI announced its partnership with Paytm, India’s largest digital payment company to provide multiple digital payment options to its customers and attractive cashback benefits in select areas. SITI Networks’ has also made Paytm’s digital payment facility available to its 24,000+ distribution partners across the country who can make online payments through various modes on the SITI Networks website.

Hon’ble Supreme Court has paved way for the introduction of the new tariff order. Provisions of the order are aimed to increase transparency, and create a level playing field. In preparation for successful implementation of the Tariff Order, SITI has been working on Smart Tiered Packaging and has undertaken significant technological and process enhancements while ensuring training and education for all stakeholders.

While commenting on the results, Mr. Rajesh Sethi of SITI Networks Limited mentioned –

“SITI Q2FY19 performance has been strong and phenomenal with all round growth across all operational metrics. 2.52x growth in Operating EBITDA and 2.1x expansion in the margins is a testament to strong operational focus of the team. SITI’s Digital Subscriber ARPU went up by 19% and Subscription Collection efficiency improved to 95% in this quarter. This ARPU leap has been broad-based across the country to ensure consistent growth in Subscription Income in the coming quarters.

SITI has always been the leader in innovation for its customers and partners. This quarter, we launched SITI PlayTop, our 1st Hybrid Set Top Box. This has been received extremely well by our customers and partners, and we intend to roll out more such boxes over the coming quarters. Taking our Customer First commitment ahead, SITI has partnered with Paytm to bring multitude of digital payment solutions for our customers. We are working with various partners across the spectrum to bring benefits of convergence to our customers.

New Tariff order enables customers to subscribe channels of their choice and brings pricing parity across various platforms. This is very positive move for the long term ARPU growth of the ecosystem. SITI is fully prepared to implement the Tariff Order and well aligned to drive EBITDA and Margins expansion based on our Profitable Growth Strategy.”

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/kbc.jpg?itok=B0hEp6Qg
Ten brands partner with season 12 of Kaun Banega Crorepati

MUMBAI: Celebrating two decades of unparalleled success and popularity, Kaun Banega Crorepati not only emerged as a game-changer for the Indian television industry but also instilled a larger focus on the power of knowledge being a great leveler. In its twelfth season, the show makes a comeback...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/and.jpg?itok=qXrA49E_
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/chrome.jpg?itok=KRUQzWyk
Chrome DM week 37: English Movie emerges as top gainer

MUMBAI: After seeing a marginal growth in week 36, various genres in the broadcasting segment have witnessed noticeable growth in week 37. English movie genre has become the top gainer in week 37, 2020 of Chrome Data Analytics and Media data. The genre has grown by 2.57 per cent. Among English...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/flix.jpg?itok=0BDI_ifP
Pad Up For An Innings Of Unrivalled Thrills As &flix Presents Flix Movie League

The much-awaited moment has arrived as one of the biggest sporting leagues finally takes centre stage. But that’s not all! As you welcome back your beloved cricketers on field, it’s also time to root for your favourite heroes on screen with Flix Movie League on &flix. The stage is set for the...

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/enter10.jpg?itok=9Fh2HwLF
Enterr10 Television strengthens its Bhojpuri play with Enterr10 Rangeela

MUMBAI: In a bid to expand its presence across India and strengthen its foothold in existing markets, leading broadcaster Enterr10 Television announces the launch Enterr10 Rangeela, its second offering in the Bhojpuri region. Enterr10 Rangeela is a Bhojpuri language General Entertainment Channel....

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/neeraj.jpg?itok=JDedoLCo
Now you see him…now you don’t - the Invisible Hero,

MUMBAI: Sony SAB is all set to enthral the audience with the launch of its brand new offering 'Hero - Gayab Mode On'. The show slated for release in November is one of its kind and the first-ever show on Indian television that brings the best of science fiction and mythology together, where the...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/carvaan.jpg?itok=PBc7SS5g
Saregama launches Carvaan Malayalam

MUMBAI: After weaving in a nostalgic music experience for its Hindi, Tamil, Punjabi, Bengali and Marathi music lovers, Saregama launches Carvaan Malayalam with pre-loaded 5000 evergreen songs classified into artistes, devotional and carnatic.

Television Production House Post Production
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/emmys.jpg?itok=B0U8_0hd
RuPaul wins best reality host for fifth year in a row

RuPaul won for outstanding host for a reality or competition program at Creative Arts Emmys, breaking Jeff Probst's previous record for wins in the category with a fifth straight Emmy.

Television TV Shows Awards
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/21/pp.jpg?itok=x2CtUb65
Pradeep Dwivedi gives further insights into Eros-STX flagoff

The pragmatic and cheerful boss of Eros International’s (Eros STX Global corporation) Indian operation had come on board at a very crucial time. Within a few months after his joining in January 2020, the big merger of Eros International and US-based STX Entertainment was announced.

Television Production House Fiction

Sign up for our Newsletter

subscribe for latest stories

* indicates required