SITI Networks Limited, with 55 mn+ consumers and presence across 580+ locations in India, has released its Consolidated Financial Results for Q2FY19, ending September 30, 2018, showcasing superlative growth across all metrics, both quarterly and year-on-year, the company said in a statement. SITI Networks, an Essel Group company, announced its second quarter result today. 

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Operating EBITDA of the company grew 2.52x over second quarter of last financial year, a 24 percent quarterly growth, and the highest in last 10 quarters to Rs. 68.2 crore, the company said in a statement.  Subscription revenue surged 1.25x to Rs 2,54.8 crore in Q2FY19, aided by the strong growth in Digital Subscription ARPU, which leaped 19 percent. On quarterly basis, SITI has demonstrated a significant growth on all the financial metrics. 

Operating EBITDA has jumped by 1.24x while Operating Margins expanded 150 bps over the previous quarter. Subscription Revenue registered a sharp growth of 19 percent sequentially over the last quarter, the statement said. SITI achieved subscription collection efficiency of 95 percent. In the quarter ending September 2018, SITI continued its new customer acquisitions by adding 3 lakh new Digital Subscribers, with current Active Subscriber base of 11.75 million.

SITI has launched PlayTop, its 1st Hybrid Set Top Box, in line with its “Customer First” strategy. SITI will be introducing a range of innovative converged offerings over the coming quarters, the company said. SITI has also announced its partnership with Paytm to provide multiple digital payment options to its customers and attractive cashback benefits in select areas. SITI Networks has also made Paytm’s digital payment facility available to its 24,000+ distribution partners across the country who can make online payments through various modes on the SITI Networks website.

Here are the highlights of the SITI Networks Q2FY19 result:
• Operating EBITDA leaps 2.52x y-o-y to Rs.68.2 crore 
• Operating EBITDA Margins jumps 2.1x y-o-y to 18.2%
• Subscription Revenue surges 24% y-o-y to Rs.254.8 crore
• Digital Subscriber ARPU leaps ~19%
• Subscription Collection Efficiency surpasses 95% in Q2FY19
• SITI adds 3 Lakh new Digital subscribers in Q2FY19; Active Digital Subscriber base reaches 11.75 million
• SITI PlayTop Hybrid STB Launched; Partnered with Paytm for Digital Payments