SITI Networks Limited Wednesday, November 6, 2019 5:50PM IST (12:20PM GMT)   (BSE:532795)(NSE:SITINET) SITI Networks’ Operating EBITDA Surges 43 Percent Y-O-Y & 16 Percent Q-O-Q to Rs. 975 Mn SITI Networks Limited announces consolidated Ind-AS results for Q2 FY20   New Delhi, Delhi, India SITI Networks Limited has released its Consolidated Audited Financial Results for Q2 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.  

  • Operating EBITDA Margins jump 1.3x y-o-y and 1.1x q-o-q to 23.4%
  • Subscription Revenue jumps 13.2% y-o-y to Rs.2,885 Mn
  • Total Revenue, excluding activation surges 11.3% y-o-y and 6.3% q-o-q to Rs.4,171 Mn
 
SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group Company, one of India’s largest Multi-System Operators (MSO), has released its Consolidated Audited Financial Results for Q2 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.
 
SITI’s Operating EBITDA surged 43% over second quarter of last fiscal, a 16% sequential quarterly growth to Rs. 975 Mn. This jump has been due to strict control over operating efficiencies. SITI’s Operating EBITDA Margin also expanded significantly by 1.3 times y-o-y to 23.4% in Q2FY20.
 
Subscription revenue grew 13.2% y-o-y to Rs. 2,885 Mn in Q2FY20, aided by the strong growth in Digital Subscription ARPU, which leapt 1.7 times to Rs.127 per month. Total Revenue (excluding activation) also surged 11.3% y-o-y to Rs. 4,171 Mn.
 
SITI has continued to update its systems and processes across multiple touch-points to be fully compliant to the Tariff regime. The company has continued to work with all stake-holders, be it the Regulator, the 24,000+ strong distribution network, Broadcasters, and above all its esteemed customers to deliver its services. Recently, SITI extended the benefits of Festival Offer released by Broadcasters to its customers.
 
While commenting on the results, Mr. Anil Malhotra, CEO of SITI Networks Limited mentioned:
 
“SITI has continued to show-case robust growth across all metrics in Q2FY20. With key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43% y-o-y to INR 975 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4%. We have also shown continued growth in our Subscription Revenue with a 13.2% jump over second quarter of the last fiscal to Rs.2,885 Mn.”


About SITI Networks Limited
 
SITI Networks Limited is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education.
 
SITI Networks Limited is one of India's largest Multi System Operator (MSO). With 10 digital head ends and a network of more than 33,000 Kms of optical fibre and coaxial cable, it provides its cable services in India's ~800 Locations.
 
SITI Networks Limited deploys State-of-the-art technology for delivering multiple TV signals to enhance consumer viewing experience. Its product range includes Digital & Analogue Cable Television, Broadband and Local Television Channels. SITI Networks has been providing services in analogue and digital mode, armed with technical capability to provide features like Video on Demand, Pay per View, Over-The-Top content (OTT), Electronic Programming Guide (EPG) and Gaming through a Set Top Box (STB). All products are marketed under SITI brand name.

  Media Contact Details

Saurabh Datta, GM Marketing SITI Networks Limited,
,+91 (120) 4526717 , [email protected]