Capitalising on the growth opportunity provided by the New Tariff Order, Siti has delivered by growing the revenue at a phenomenal rate while maintaining strict control over the operational efficiencies
Siti Networks Ltd, an Essel Group Company, has reported growth in its operating earnings before interest, tax, depreciation and amortisation (Ebitda) by 1.5 times to Rs 84.1 crore in the April-June quarter of fiscal 2020.
Capitalising on the growth opportunity provided by the New Tariff Order, Siti has delivered by growing the revenue at a phenomenal rate while maintaining strict control over the operational efficiencies. This manifested itself in operating Ebitda margin expanding significantly by 471 basis points year on year to 21.4%.
Rajesh Sethi, chief business transformation officer, Siti Networks, said the company has successfully started to incorporate the New Tariff Order and this is validated by the June quarter results. "Subscription revenue grew over 36% on year with total revenue (excluding activation) increasing by more than 19% over last year.
"Our product strategy to provide the optimal entertainment choices to our subscribers is bearing fruit as the average revenue per user (Arpu) has grown two times on year and we are sure that this growth momentum will only grow stronger," said Sethi.
While subscription revenue stood at Rs 293.2 crore total revenue (excluding activation) surged around 20% on year to Rs 392.5 crore for the first quarter of fiscal 2020.
Siti also created multiple offerings for the consumers catering to multiple demographics and geographies. As a result of which more than 57% of the base opted for the curated 'My Siti' plans resulting in digital subscriber Arpu leaping 2 times on year and 1.5 times over the previous quarter to Rs 125.
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