SITI Networks' 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs 2,676 million

SITI Networks Limited an Essel Group Company, one of India's largest Multi-System Operators (MSO), has released its Consolidated Audited Financial Results for Q3 FY20, ending December 31, 2019, showcasing continuous growth through strict control on expenses and operational efficiencies across all metrics.

SITI's 9MFY20 Operating EBITDA surged 1.24 times over a similar duration of last fiscal, to Rs. 2,676 million. This jump has been due to strict control over expenses and operating efficiencies. SITI's Operating EBITDA Margin for 9MFY20 also expanded significantly by 1.1 times y-o-y to 22 per cent.

Subscription revenue for 9MFY20 grew 19.5 per cent Y-o-Y to Rs 8,687 million, aided by the strong growth Subscription ARPU, which leaped 1.8 times to Rs 128 per month. Total Revenue (excluding activation) also surged 12.7 per cent Y-o-Y to Rs 12,189 million for the same period.

 

SITI Broadband and Zee 5, India's fastest growing OTT platform joined hands to promote premium content to SITI's high-speed broadband customers. SITI Broadband also expanded its presence through a mix of smart customer management and innovative offerings.

A new SITI Broadband web and mobile interface has been introduced to enhance the customer experience.

SITI's continuous efforts on improving operational efficiencies through the improvement of its systems, processes, and personnel have been yielding results. This has resulted in a better and intimate ground connects with its 24,000 plus strong distribution network and increased focus on being fully compliant to the Tariff regime.

"SITI's continued focus on operational efficiencies and strict control over expenses has driven growth in Operating EBITDA by 1.24 times Y-o-Y to Rs 2,676 million and expanding Operating EBITDA margins by 1.1 times Y-o-Y to 22 per cent in 9MFY20. Our Total Revenue (excluding Activation) also surged 12.7 per cent Y-o-Y to Rs 12,189 million in the same period. Our Subscription Revenue also jumped 19.5 per cent to Rs 8,687 million. We are focused on working closely with our distribution partners for increased sweating of ground assets further through introduction of allied value-added services for our customers SITI Broadband with Zee 5, India's fastest growing OTT app, gives both partners an opportunity to scale up our business ambitions, creating value for all our stakeholders with a focused and strategic approach", commented Anil Malhotra, CEO of SITI Networks Limited while commenting on the results.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.