SITI Cable Q4 FY15 Operating Revenues +9.7% Y/Y
The Board of Directors of SITI Cable Network Limited (SITI CABLE) (BSE: 532795, NSE: SITI CABLE EQ) in its meeting held today, has taken on record the Audited Consolidated Financial Results of the company and its subsidiaries for the fourth quarter ended March 31, 2015 and Audited Consolidated Annual Financial Results for the financial year 2014-15.
Performance Highlights: Consolidated Financial Results FY 2015:
- Revenue at INR937 Crores; up 31.9% YoY
- Subscription Income at INR531 Crores; up 56.5% YoY
- Broadband Income at INR27 Crores ; up 53.3% YoY
- EBITDA at INR168 Crores; up 33.8% YoY
- Operating EBITDA at INR106 Crores; up 133.6% YoY
- Digital subscriber base increased to 5.38 million
- Broadband subscriber base increased to 70,100
“Our focus on monetization of existing business in phase 1 & 2 Cities in FY15, led to a strong Subscription Revenue growth of 57% YoY and Operating EBITDA Margin expansion by 491bps. SITI Cable is engaged in proactive seeding and well placed to benefit from the ongoing digitization process. We are looking to expand our Broadband presence on DOCSIS Technology in our endeavour to diversify our revenue stream and provide the consumer with a compelling experience” said Mr. V D Wadhwa, Executive Director & CEO, SITI Cable.
- Raised INR221.1 Crores through Qualified Institutional Placement (QIP)
- Allotted 6,31,74,540 shares on receipt of INR221.1 Crore from a group of Qualified Institutional Bodies (QIBs) including HDFC Mutual Fund, Reliance Mutual Fund, First International Group, UBS and others
- The successful closure of the QIP is indicative of the confidence investors have in the SITI Cable Growth story
- New Geography Expansion
- Company expanded its footprint by entering into new markets in Andhra Pradesh & Haryana as part of the ongoing voluntary digitization process in order to be compliant with the DAS Phase 3 Digitization deadline
- The Company was awarded at the 6th BCS Ratna Awards held on 19th March, 2015.
- Most outstanding MSO in implementation of DAS policies, for strict adherence to regulatory and tax compliances
- Outstanding performance in managing LCO Networks
Source: Siti Cable