LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

SITI Networks operating EBITDA up by 146% at Rs 549 Mn in Q1FY19

SITI's country-wide monetization increase programme in June 2018 has resulted in a 17% increase in ARPU. The company has also improved its subscription collection efficiency, surpassing 93% in June 2018 exit, which has further risen to 97% exit July’18, it added.    

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SITI Networks operating EBITDA up by 146% at Rs 549 Mn in Q1FY19
SITI Networks Limited’s Operating EBITDA Margin expanded by 892 bps to ~17%, driven by subscription revenue surge of 26.3% to Rs 2,149 Mn and nearly flat growth in expenses, the statement said. Image source: official website
Written By: ZeeBiz WebTeam
Updated: Wed, Aug 08, 2018
06:17 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs 2,676 Mn SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs 2,676 Mn
SITI Networks reports 20% jump in revenue to Rs 392.5 crore SITI Networks reports 20% jump in revenue to Rs 392.5 crore
SITI Networks Results for Q4FY19 & FY19: Company's subscription revenue up by 19% to Rs 9,537 million SITI Networks Results for Q4FY19 & FY19: Company's subscription revenue up by 19% to Rs 9,537 million
 SITI Networks Ltd Q3FY19 result announced; subscription revenue surges 21.4% SITI Networks Ltd Q3FY19 result announced; subscription revenue surges 21.4%
SITI Networks launches My SITI mobile app for the customers to access and operate their SITI Digital Cable TV connection SITI Networks launches My SITI mobile app for the customers to access and operate their SITI Digital Cable TV connection

SITI Networks Limited today released its consolidated financial results for Q1FY19, ending June 30, 2018, maintaining persistent elevation in Operating EBITDA by reporting 146% growth over first quarter of last fiscal. The company had stated Operating EBITDA of Rs 549 Mn in the first quarter as against Rs 223 Mn on Y-o-Y basis. 
 
The company’s Operating EBITDA Margin expanded by 892 bps to ~17%, driven by subscription revenue surge of 26.3% to Rs 2,149 Mn and nearly flat growth in expenses, the statement said.  
 
SITI's country-wide monetization increase programme in June 2018 has resulted in a 17% increase in ARPU. The company has also improved its subscription collection efficiency, surpassing 93% in June 2018 exit, which has further risen to 97% exit July’18, it added.  
 
Further, the company’s active digital subscriber base also reached 11.7 Mn by end of the first quarter with 3.5 lakh fresh additions. The company now serves ~55 Mn+ consumers in ~580+ locations across the country. SITI’s HD base also increased to 3.56 lakh by adding 41,000 subscribers in the quarter. 
 
SITI is working on Smart Tiered Packaging to offer customers bespoke options and great value, said the statement adding that it will further help SITI in implementing the New Tariff Order regime later in this fiscal. 
 
Commenting on the results, Rajesh Sethi of SITI Networks Limited said, “SITI had a great start to FY19 with strong improvement across all operational metrics. Our “Customer First” strategy helped drive superlative 146% Operating EBITDA growth coupled with expansion of 892 bps in the margins. While we increased our Subscription Revenue nearly 26% year on year, we have further initiated an ARPU increase program and the results will be visible in the coming Quarters." 
 
"With the New Tariff Order notification, we are well positioned to move to the new regime. Our systems and processes are ready for this seismic transformation of last mile operations," he said, adding "In FY19, we intend to drive efficiencies along with solid EBITDA and Margins growth, in line with our core strategy of profitable and sustainable growth.” 
 
The company has undertaken significant technological and process enhancements for its Subscriber Management System while initiating training and education modules for all stakeholders on the New Tariff Order. Besides, the company has also implemented the “eMIA Initiative” to ensure digitization of agreements with all partners. 
 
To drive employee engagement and enhance operating efficiencies, SITI launched a customized app for its employees called “My SITI”, to promote a high-performance culture across the organization through real-time monitoring and evaluation of various operational and strategic parameters. 
 
Watch this Zee Business video

SITI Networks Limited is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education. 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
SITI Networks
RELATED NEWS
SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs 2,676 Mn SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs 2,676 Mn
SITI Networks reports 20% jump in revenue to Rs 392.5 crore SITI Networks reports 20% jump in revenue to Rs 392.5 crore
SITI Networks Results for Q4FY19 & FY19: Company's subscription revenue up by 19% to Rs 9,537 million SITI Networks Results for Q4FY19 & FY19: Company's subscription revenue up by 19% to Rs 9,537 million
 SITI Networks Ltd Q3FY19 result announced; subscription revenue surges 21.4% SITI Networks Ltd Q3FY19 result announced; subscription revenue surges 21.4%
SITI Networks launches My SITI mobile app for the customers to access and operate their SITI Digital Cable TV connection SITI Networks launches My SITI mobile app for the customers to access and operate their SITI Digital Cable TV connection

LATEST NEWS

Path to NASA started way back watching Star Trek as a child, Indian-American Swati Mohan tells Biden

Stocks to buy with Anil Singhvi: Sandeep Jain recommends Wonderla Holidays today | Money-making Tips!

Biden congratulates team NASA, says Indian Americans are ''taking over the country''

Heranba IPO listing is a big success; now, experts unveil this money-making strategy - buy these stocks

Rakesh Jhunjhunwala picked Tata Motors for his portfolio during Covid Pandemic II Reasons Highlighted

Heranba IPO listing price today: Share soars to Rs 900 on debut - Anil Singhvi lays out strategy for investors

PUBG Mobile India update: Important message from Krafton! India relaunch soon? Check here

ESIC Recruitment 2021 Notification: Apply online at esic.nic.in for 6552 vacancies to be filled for UDC and Stenographer Posts

Container Corporation Share Price: Jefferies maintain buy rating and raises price target to Rs 700

Singer Shreya Ghoshal, husband Shiladitya expecting first child; share baby name with fans

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved