UCN Cable FY19 operating profit expands to Rs 19.3 cr
MUMBAI: Multi system operator (MSO) UCN Cable has posted operating EBITDA of Rs 19.3 crore for the fiscal ended 31st March as against Rs 17.63 crore in the previous fiscal.
Based on the Ministry of Corporate Affairs (MCA) data, the company’s revenue for the fiscal jumped to Rs 110.6 crore compared to Rs 99 crore a year ago.
India Ratings and Research (Ind-Ra) has maintained UCN Cable Network’s Long-Term Issuer Rating in the non-cooperating category. The issuer did not participate in the rating exercise despite continuous requests and follow-ups by the agency.
The agency said that the rating is based on the best available information. Therefore, investors and other users are advised to take appropriate caution while using the rating, it added.
Nagpur-based UCN Cable was incorporated in 2006 by Ashutosh Kane, Ajay Khamankar and Jagdish Paliya. The company is engaged in providing Internet and cable distribution services. The company also generates rev enue from adv ertisements, through in-house channels in multiple languages.
The company has a relatively small scale of operations as marked by their existing subscriber base of approximately 800,000 users in digital cable segment and around 5300 users in the broadband segment.
In 2019, UCN had launched a high definition (HD) version of its flagship channel UCN News. The channel debuted on 15th February 2019. This is the third HD channel from UCN after UCN Social Media HD and UCN Cinema HD.
UCN owns and operates 24 local cable channels which include UCN news (news channel), UCN Prime (movie channel), UCN Social Media (youth music channel), and UCN Lamhe (classic music channel).
The MSO has operations in Vidarbha, Marathwada and parts of Madhya Pradesh.