SITI Networks total revenue rises 11.3% to Rs 417.1 crore in Q2 FY20
SITI Networks' operating EBITDA climbed 43% YoY to Rs 97.5 crore
SITI Networks Limited an Essel Group company has released its consolidated audited financial results for Q2 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.
SITI’s Operating EBITDA surged 43% over the second quarter of last fiscal, a 16% sequential quarterly growth to Rs 97.5 crore. This jump has been due to strict control over operating efficiencies. SITI’s Operating EBITDA margin also expanded significantly by 1.3 times y-o-y to 23.4% in Q2FY20.
Subscription revenue grew 13.2% y-o-y to Rs 288.5 crore in Q2FY20, aided by the strong growth in Digital Subscription ARPU, which leapt 1.7 times to Rs.127 per month. Total revenue (excluding activation) also surged 11.3% y-o-y to Rs 417.1 crore.
SITI has continued to update its systems and processes across multiple touch-points to be fully compliant to the Tariff regime. Recently, SITI extended the benefits of the festival offer released by Broadcasters to its customers.
Commenting on the results, Anil Malhotra, CEO of SITI Networks Limited said, “SITI has continued to show-case robust growth across all metrics in Q2FY20. With a key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43% y-o-y to Rs 97.5 crore and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4%. We have also shown continued growth in our Subscription Revenue with a 13.2% jump over the second quarter of the last fiscal to Rs.288.5 crore.”
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