Siti Cable's loss widens to Rs 34.12 cr in Jan-Mar

Essel group firm Siti Cable today reported widening of its consolidated net loss to Rs 34.12 crore for the quarter ended March 31, 2015, from that of Rs 20.86 crore in the same period of previous fiscal.
However, Siti Cable's net sales on consolidated basis were up 9.11 per cent to Rs 250.48 crore during the quarter under review as against Rs 229.55 crore in 2013-14, the company said in a filing to the BSE.
"Our focus on monetisation of existing business in phase 1 & 2 Cities in FY2014-15 led to a strong subscription revenue growth of 57 per cent YoY and Operating EBITDA Margin expansion. Siti Cable is engaged in proactive seeding and well placed to benefit from the ongoing digitization process," Siti Cable Executive Director & CEO V D Wadhwa said.

On the future outlook, he said: "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."
Similarly, during 2014-15 fiscal, the company's consolidated net loss widened to Rs 109.09 crore as against Rs 94.06 crore in the year-ago period.
Siti Cable's net sales during 2014-15 were at Rs 889.15 crore, up 31.57 per cent, against Rs 675.77 crore a year ago.
Share of Siti Cable were trading at Rs 35.35 per scrip on BSE, up 0.86 per cent from previous close.