Siti Networks FY18 revenues up 19% at Rs 1,426 cr, EBITDA at Rs 324.5 cr
Siti Networks Limited significantly expanded its operating EBITDA margins by 900 bps YoY to 16.2 per cent in the fourth quarter ended March 31, 2018, while operating EBITDA improved significantly by 145 per cent YoY to Rs 51.5 crore.
The company announced a 2.6 times YoY operating EBITDA growth in FY18 to Rs 151 crore, while the operating EBITDA margin expanded by 636 bps, growing 2.1 times.
Subscription revenue took a significant leap of 41 per cent in FY18 to Rs 800 crore, driving total revenue growth of 19 per cent YoY to Rs 1,426 crore. This, along with focus on cost efficiencies, led to total EBITDA growing by 42 per cent YoY to Rs 325 crore. The company has also accelerated its overall collection efficiency, surpassing 95 per cent in Q4 FY18.
The company added industry leading 3.1 million digital cable households in FY18, taking active digital subscriber base to 11.5 million.
As an effort to drive this high-performance culture across the organisation, the company also rolled out SITI Values. These core values act as a guiding light and focus on building a SITI ready for the future.
The base contribution of lock-in plans in Broadband increased to 37 per cent exit FY18. The company’s broadband operations with a total footprint to 16.8 lakh homes, have a base of 2.5 lakh customers. The company is working on building a growth strategy in the sector.
Siti has a national footprint across 580+ locations and ensures seamless delivery of content to its ~55 million consumers. Siti launched an online and on-screen campaign – ‘Zindagi Ka Network’ – in January 2018, which emphasised on how the network brought together families and friends.
While commenting on the results, Rajesh Sethi, Chief Business Transformation Officer, Siti Networks Limited, 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).
He further said, “We continue to maintain our steady increase in customer additions, driving efficiencies through 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.”