SITI Networks subscription revenues jump 41% in FY18; adds 3.1 mn subscribers

SITI Networks reported a 2.6 times year-on-year (YoY) jump in its operating EBITDA growth at Rs 151 crore for the financial year 2017-18 even as the company's operating EBITDA margin expanded by 636 bps, growing 2.1 times. 

Siti's subscription revenues took a significant leap too, advancing 41 per cent in FY18 to Rs 800 crore. With this the total revenues grew 19 per cent year-on-year to Rs 1426 crore. Robust revenue growth along with focus on cost efficiencies led to total EBITDA growing by 42 per cent YoY to Rs 325 crore.

SITI Networks added industry leading 3.1 million digital cable households in FY18 taking active digital subscriber base to 11.5 million.  

In the March quarter, the company's operating EBITDA margins expanded by 900 bps YoY to 16.2 per cent, while operating EBITDA improved significantly by 145 per cent YoY to Rs 51.5 crore. 

“We at SITI are proud of our performance for this past year as we enter FY19 with significant momentum. In FY18 we have achieved strong operational and financial results while also delivering superlative customer experience and must-see content to our ~55 Mn strong consumer base across the country," said Rajesh Sethi, Chief Business Transformation Officer, SITI Networks.

"We continue to transform into a process driven organization with Customer experience at its heart. As we achieve more from less, our year-over-year growth rates of Revenue and EBITDA continue to accelerate, which is a testament of our transformation efforts across SITI,” he added.

As an effort to drive this high-performance culture across the organisation, the company also rolled out SITI Values. "These core values act as a guiding light and focus on building a SITI ready for the future," a SITI statement informed.

WATCH ZEE BUSINESS VIDEO HERE  

"The base contribution of lock-in plans in broadband increased to 37 per cent exit FY18. The company’s broadband operations with a total footprint to 16.8 lakh homes, have a base of 2.5 lakh customers. The company is working on building a growth strategy in the sector," it added. 

SITI Networks Limited (Formerly known as “SITI Cable Network Limited”) is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education.