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IMCL added 1.5 mn new homes in 10 months on the back of its HITS platform
MUMBAI: IndusInd Media & Communications Limited (IMCL) has said that it added over 1.5 million new active digital homes in last 10 months on the back of its headend in the sky (HITS) service NXT Digital.
IMCL, which is a subsidiary of Hinduja Ventures, is the only company to provide cable TV and HITS service. The digital cable service is provided under the InDigital brand.
The company had a consolidated subscriber base of 4 million, as on 31 March 2017.
The HITS business, which was under Grant Investrade Ltd (GIL), was merged with IMCL with effect from 1 October 2016. Both GIL and IMCL are wholly owned subsidiaries of Hinduja Ventures.
IMCL noted that the expansion of its customer base has happened significantly post the demerger of the HITS business into IMCL.
It further added that the new growth is all happening on the strength of the HITS platform which has given IMCL an all India reach.
IMCL also claimed that it is now the only MSO to cover all the 29 states and 4 Union territories. The Cable Operator Digital Premise Equipment (COPES) are installed in most districts with signals transmitted to over 1200 Pin Codes in India.
“Over 1.5 million new active digital homes have been added in last 10 months alone. It is uniquely positioned as a Prepaid B2B with user friendly applications,” HVL said in its quarterly results.
In FY17, IMCL’s net loss had ballooned to Rs 206.1 crore from Rs 112.7 crore in the previous fiscal. Revenue from operations rose to Rs 523.2 crore up from Rs 434.4 crore. Expenses climbed to Rs 794.7 crore from Rs 594.5 crore.
Subscription revenue saw a minor uptick at Rs 224.4 crore as against Rs 220.6 crore. Placement revenue saw a steep fall at Rs 98.5 crore from Rs 125.8 crore. Pay channel cost jumped to Rs 297.8 crore from Rs 246.1 crore. Transponder charges, on account of the HITS business, stood at Rs 14.3 crore.
The results of operations of IMCL for the financial year 2016-17, included the full year operations of the cable TV business and operations of the HITS business for the period 1 October, 2016 to 31 March, 2017.