Siti Cable posts INR2.22bn revenue in Q3 FY 2015

Siti Cable Network has recorded a consolidated revenue of INR2.22 billion in third quarter FY2015 as compared to INR1.64 billion in Q3 FY 2014. It incurred a net loss of INR204 million in the quarter ended December 2014 as against INR 179 million in the quarter ended December 2013.

The MSO said that its direct point subscriber base stands at nearly 40,000 as of 31 December, 2014 – it commenced acquisition of direct customers from last mile operators during the second quarter of 2015.

The company’s EBITDA stood at INR500 million in the third quarter FY 2015 as compared to INR300 million in the third quarter FY 2014. EBITDA rose 9.4% quarter-on-quarter.

During the third quarter, it seeded over 250,000 set-top-boxes. It has a digital subscriber base of 4.85 million and 5.5 million analogue subscribers, at the end of this quarter. Recently, the multi-system operator upgraded its existing digital head-end at Bengaluru to Ericsson and Harmonic.

“Last-mile operators have realised that digitisation is a reality now. We see less resistance against digitisation from the LCOs in Phase III and IV towns. In fact, they see digital cable STB as an opportunity to offer more channels and better services to their consumers and realise better revenues from their existing customer base. It also helps them in retaining their customer, who would otherwise move to competing technology like DTH for better quality services,” said VD Wadhwa, ED and CEO of Siti Cable.