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SITI Cable reports 26.1% rise in total income to Rs 223.4 crore

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SITI Cable reports 26.1% rise in total income to Rs 223.4 crore

SITI Cable Network Limited (SCNL) has announced the unaudited consolidated financial results of the company and its subsidiaries for the quarter ending December 31, 2014.

The company reported a 26.1 per cent rise in its total income from operations to Rs 223.4 crore in Q3-2015 compared with Rs 223.8 crore in Q2-2015.

SITI Cable’s EBIDTA in the current quarter increased 43.1 per cent to Rs 50.1 crore against Rs 35 crore in Q3-2014 and 9.4 per cent from Rs 45.8 crore in Q2-2015.

Revenue from the company’s broadband segment increased 61 per cent to Rs 7 crore in Q3-2015 from Rs 4.3 crore in the corresponding quarter of 2014 and increased 13 per cent from Rs 6.2 crore in Q2-2015.

The digital subscriber base increased to 4.85 million, while the broadband subscriber base shot up to 54,000.

“SITI Cable Network is fully geared to provide the benefits of digitisation to the Indian subscriber. The company continues to provide leadership in the areas of best practices, systems implementation and compliances. Although some minor challenges remain, the company is leading the industry on a new and evolved growth trajectory,” said Dr Subhash Chandra, Chairman, SITI Cable.

VD Wadhwa, Executive Director and CEO of SITI Cable said, “SITI Cable has maintained its growth momentum in the third quarter as well, while improving EBITDA margin from 20.5 per cent to 22.4 per cent QoQ.”

He added, “Last-mile operators have realised that digitisation is a realitynow. We see less resistance towards digitisation from LCOs in phase III and IV towns. In fact, they see digital cable STB as an opportunity towards offering more channels, better services to their consumers and realising better revenues from their existing customer base. It also helps them in retaining their customer, who would otherwise move to competing technology like DTH for want of better quality services.”

Meanwhile, the company expanded its footprint by entering new markets such as Nagpur, Pune, Mysore and Dehradun. SITI Cable has also made inroads in Phase III and IV towns in Kerala, Madhya Pradesh, Gujarat and Maharashtra. These new geographical imprints will further help in consolidating the company’s position as a leading national MSO Technological Upgradation. 

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