SITI reports growth in operating EBITDA to Rs 84.1 cr in Q1 FY20

Digital Subscriber Average Revenue Per User grew 2x YOY and 1.5x over the previous quarter

e4m by exchange4media Staff
Updated: Aug 12, 2019 5:43 PM

SITI Networks Limited, an Essel Group Company, reported growth in its operating EBITDA by 1.5 times to Rs 841 mn in Q1 FY20. Capitalising on the growth opportunity provided by New Tariff Order, SITI has delivered by growing the revenue at a phenomenal rate while maintaining the strict control over the operational efficiencies.

This manifested itself in Operating EBITDA margin expanding significantly by 471 bps y-o-y to 21.4% subscription revenue increased by more than 36% y-o-y to Rs 2,932 mn in Q1 FY20, aided by improving monetization and upselling better value offerings to our esteemed customers.

Total Revenue (excluding activation) also surged 20% YOY to Rs 3925 million. To better serve the subscribers under the new regime, SITI has created multiple offerings for the consumers which cater to multiple demographics and geographies.

As a result of these customer-oriented offerings more than 57% of the base opted for these curated MY SITI plans as it gives them the best of content and economic value with minimal effort which has resulted in Digital Subscriber ARPU leaping 2x y-o-y & 1.5x over the previous quarter.

This transition has truly resulted in the choice belonging to the consumer now.

While commenting on the results, Rajesh Sethi of SITI Networks Limited, said, “SITI has successfully started to incorporate the New Tariff Order to the very roots of our business and this is validated by the stellar results displayed in the first quarter of current fiscal. Our subscription revenue grew over 36% y-o-y with total revenue (excl. activation) increasing by more than 19% y-o-y. With the increase in collection & operational efficiencies we saw our Operating EBIDTA grow 1.5x y-o-y to INR 841 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 21.4%. Our product strategy to provide the optimal entertainment choices to our subscribers is bearing fruit as the ARPU has grown 2x y-o-y and we are sure that this growth momentum will only grow stronger.”

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