Siti Cable Network has recorded a 30 per cent growth in its consolidated total revenues for the third quarter ended December 31, 2012 at Rs 1,247.1 million, as compared to Rs 957.1 million during corresponding quarter last fiscal.
The consolidated operating profit (EBITDA) for the third quarter stood at Rs 202.5 million, as compared to Rs 46 million during corresponding quarter last fiscal.
During the quarter, Siti Cable expanded its business operations in new strategic towns in Central India locations and Eastern parts of the country.
Commenting on the performance, Subhash Chandra, Chairman, Siti Cable Network said, “Despite uncertain environment, Siti Cable has done well in this quarter and has driven higher revenue through relentless focus on operational excellence. Siti is EBITDA positive in this quarter as well, which clearly indicates continuing growth path.”
Anil Malhotra, COO, Siti Cable added here, “Siti gained further momentum in Q3 FY13. We were able to maintain our margins through operational efficiency improvements despite increased operating expenses.”
The company’s main operating expenses include cost of goods and services, employees’ cost, selling and distribution expenses and other expenditure. Total consolidated operating expenses stood at Rs 1,044.6 million for Q3 FY13, as against Rs 911.2 million during the corresponding quarter last fiscal, recording an increase of 15 per cent.
He further said, “In Phase I of digitisation we have now seeded about 1.5 million set top boxes (STBs) in our markets of Delhi, Mumbai and Kolkata. The company added approximately 7 lakh STBs during Q3. The STB seeding done by the company is under the paid scheme and the payments were realised on upfront basis.”