Siti Cable seeds 400000 STBs in Q2

Siti Networks, the Essel Group-owned company has revealed a growth of 4.85% in its fiscal Q2. Its digital subscriber base has increased to 8.7 million following the addition of 400000 set-top boxes (STBs) during the last three months which ended on September 30.

The number of STBs seeded have been the same as the previous quarter. The company’s subscriber base has increased from 8.3 million to 8.7 million in the last quarter. The company’s number of subs for cable TV has a total of 12.2 million. This means that 3.5 million STBs has to be seeded in Q3 to achieve total digitisation of its network. It is to be noted that the deadline for Phase IV of digital addressable system (DAS) ends on December 31.

The subscription revenue for Siti Cable has climbed from Rs1.263 billion to Rs1.353 billion in the last quarter. Compared to the previous fiscal, the sum was Rs1.015 billion. The revenue for the company’s Q2 has increased from 28.2 billion to 28.9 billion, with a growth of 2.48% in the last quarter. The second quarter of financial year 2016 is at 2.339 billion.

Enhancing its HD base, the company has refurbished its sales strategy and rolled out for a limited period, a bundled HD services offer to upgrade its existing SD subscribers. Siti added 26,000 HD subscribers for a total of 91,000.