Siti Networks’ subscription revenue up 41% to Rs 800 cr in Q4
This, along with focus on cost efficiencies, led to total EBITDA growing by 42 per cent YoY to Rs 325 Cr. The Company has also accelerated its overall collection efficiency surpassing 95 per cent in Q4FY18.
Siti Networks has announced a 2.6 times YoY operating EBITDA growth in FY18 to Rs 151 Cr while the Operating EBITDA Margin expanded by 636 bps, growing 2.1 times.
Subscription Revenue took a significant leap of 41 percent in FY18 to Rs 800 Cr driving Total Revenue growth of 19 per cent YoY to Rs 1426 Cr. This along-with focus on cost efficiencies, led to Total EBITDA growing by 42 per cent YoY to Rs 325 Cr. The Company has also accelerated its overall collection efficiency surpassing 95 per cent in Q4FY18.
The Company added 3.1 Mn Digital Cable households in FY18 taking active digital subscriber base to 11.5 Mn. In Q4FY18, Operating EBITDA Margins significantly expanded by 900 bps YoY to 16.2percent , while Operating EBITDA improved significantly by 145 per cent YoY to Rs 51.5 Cr.
The company also rolled out Siti Values. These core values act as a guiding light and focus on building a Siti ready for the future. The base contribution of lock-in plans in Broadband increased to 37 percent exit FY18. The Company’s broadband operations with a total footprint to 16.8 lakh homes, have a base of 2.5 lakh customers.
Rajesh Sethi, Chief Business Transformation Officer, Siti Networks, mentioned, “We at Siti are proud of our performance for this past year as we enter FY19 with significant momentum. In FY18 we have achieved strong operational and financial results while also delivering superlative customer experience and must-see content to our 55 Mn strong consumer base across the country. Our continued focus on Customer Experience drove exceptional EBITDA growth (2.6x) coupled with industry leading subscriber additions ( 3.1 Mn). We continue to maintain our steady increase in customer additions, driving efficiencies through war on waste, balanced with solid EBITDA growth and expanding Margins. We continue to transform into a process driven organization with Customer experience at its heart. As we achieve more from less, our year-over-year growth rates of Revenue and EBITDA continue to accelerate, which is a testament of our transformation efforts across SITI.”
Full Year Consolidated Revenues at Rs 1426.4 Cr and EBITDA at Rs 324.5 Cr
SITI crosses 11.5 Mn active digital subscriber base
EBITDA jumps 2.6x from Rs 58.6 Cr to Rs 151 Cr
EBITDA Margins leap 2.1x from 5.7percent to 12percent
Subscription Revenue up 41percent to Rs 800 Cr
Collection efficiency surpasses 95percent
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