Siti’s Q4 EBITDA stands at Rs 51.5 cr; seeds 3.1 mn STBs in FY18

MUMBAI: Multi system operator (MSO) Siti Networks’ operating EBITDA for the fiscal ended 31 March has expanded 2.6 times to Rs 151 crore. The operating EBITDA margin expanded by 636 bps, growing 2.1 times.

The net loss of the company narrowed to Rs 169.8 crore as against Rs 179.2 crore in the year ago period.

The cable TV company added 3.1 million digital cable households in FY18 taking its active digital subscriber base to 11.5 million.

Siti’s operating EBITDA for the quarter ended 31 March stands low at Rs 51.5 crore as compared to the trailing quarter.

Revenue stood at Rs 335.6 crore compared to Rs 357.4 crore. Expenses were down at Rs 397.1 crore from Rs 402.1 crore.

Subscription revenue took a significant leap of 41% in FY18 to Rs 800 crore driving total revenue growth of 19% YoY to Rs 1426 crore. This along with the focus on cost efficiencies led to total EBITDA growing by 42% to Rs 325 crore.

The company said that it has also accelerated its overall collection efficiency surpassing 95% in Q4FY18.

The base contribution of lock-in plans in broadband increased to 37% in FY18. The company’s broadband operations with a total footprint of 16.8 lakh homes have a base of 2.5 lakh customers. The company is working on building a growth strategy in the sector.

The company has a national footprint across 580+ locations and delivers content to 55 million consumers.

Siti Networks chief business transformation officer Rajesh Sethi said, “We at Siti are proud of our performance for this past year as we enter FY19 with significant momentum. In FY18 we have achieved strong operational and financial results while also delivering superlative customer experience and must-see content to our 55 million strong consumer base across the country. Our continued focus on Customer Experience drove exceptional EBITDA growth (2.6x) coupled with industry-leading subscriber additions (3.1 million).

“We continue to maintain our steady increase in customer additions, driving efficiencies through a war on waste, balanced with solid EBITDA growth and expanding Margins. We continue to transform into a process-driven organisation with Customer experience at its heart. As we achieve more from less, our year-over-year growth rates of Revenue and EBITDA continue to accelerate, which is a testament to our transformation efforts across Siti.”