SITI Networks’ Operating EBITDA surges 43% Y-o-Y
SITI Networks Limited, an Essel Group Company and one of India’s largest Multi-System Operators (MSO), has reported a 43 per cent surge in its Operating EBITDA for Q2 FY2020, ending September 30, 2019, a 16 per cent sequential quarterly growth to Rs 975 million. 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 per cent in Q2 FY2020.
Subscription revenue grew 13.2 per cent y-o-y to Rs 2,885 million in Q2 FY2020, 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 per cent y-o-y to Rs 4,171 million.
While commenting on the results, Anil Malhotra, CEO of SITI Networks, mentioned, “SITI has continued to showcase robust growth across all metrics in Q2 FY2020. With key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43 per cent y-o-y to Rs 975 million and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4 per cent. We have also shown continued growth in our Subscription Revenue with a 13.2 per cent jump over second quarter of the last fiscal to Rs 2,885 million.”
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 stakeholders, be it the Regulator, the 24,000+ strong distribution network, broadcasters, and its customers to deliver its services. Recently, SITI extended the benefits of Festival Offer released by broadcasters to its customers.