Top Story


Home >> Media - TV >> Article

Siti Cable Q3 FY13 revenues up 30 pc at Rs 1,247 mn

Font Size   16
Siti Cable Q3 FY13 revenues up 30 pc at Rs 1,247 mn

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.”

The production house has already established itself as the leader in the non-scripted genres. However, Rege now wants Endemol to achieve the same in the original scripted zone and film production

Naidu also talks about the ushering in of a new era of digital payments and says this is just the beginning and there’s lots of space for newer players to step in and evolve

Markus Noder, Managing Partner, Serviceplan International, shared innovative tools, ideas and methodologies to generate tangible business values

The primary reason that led to growth of OTT is the constant improvement of internet speed and service across the country: Sandeep Gupta, ACT Fibernet

India has become the diabetes capital of the world, with prevalence of the disease estimated to rise from 69.2 million to 123.5 million by 2040

Laban Stretchy Man, the new human shaped, stretchy, fruit flavoured chews from Orkla- Norway’s number one confectionery brand, has been launched and localized by MTR Foods in India