Post a board meeting held on January 25, 2010, the Board of Directors of Wire and Wireless (India) Ltd (WWIL) announced the unaudited consolidated financial results of the company and its subsidiaries for the third quarter ended December 31, 2010.
The company’s operating revenues in Q3 FY11 stood at Rs 744.4 million as compared to Rs 722.2 million during the corresponding quarter last fiscal, indicating a y-o-y growth of 3.1 per cent. Operating revenue is primarily generated from subscriber related income, income from bandwidth charges, income from advertisements and other operating revenues.
Operating profit (EBITDA) for the quarter stood at Rs 43.7 million as compared to a loss of Rs 43.7 million during the corresponding quarter last fiscal. Total consolidated operating expenses stood at Rs 710.2 million for Q3 as against to Rs 793.6 million during the corresponding quarter last fiscal. Cost of goods and services was recorded at Rs 518.3 million during the quarter, representing 73 per cent of the of the total operating expenses in comparison to Rs 596.1 million in the corresponding quarter of the last fiscal, a 75.1 per cent share of the total operating cost.
In an official statement, Subhash Chandra, Chairman, Zee Group, stated, “WWIL continues to focus on its analogue business and is looking at every viable digitisation and growth opportunity. WWIL has effectively managed analogue and digital expansions by putting up digital head ends in new geographies. The initiatives taken by the company of implementing new systems and processes have started yielding results with continued positive EBIDTA during this quarter as well.”
Commenting on the third quarter results, Sudhir Agarwal, CEO, WWIL, said, “Continuing the progress made in the three quarters of this fiscal, WWIL has consolidated its operation in existing geographies and continues to expand in newer markets. It has also strengthened its UGF network quarter on quarter. WWIL is providing more than 100+ channels to consumers at very competitive price, with the prime focus on region specific content and popular local channels. WWIL has recently re-launched SITI Digital Cable Television services in Hyderabad and offers superior picture and sound quality as compared to the conventional mediums.”