Multi-system operator Siti Networks has reported significant growth across all metrics in its consolidated financial results for the quarter ended September 30, 2018. The Essel Group company, with over 55 million consumers and presence across over 580 locations in India, reported 2.5X growth in operating earnings before interest, tax, depreciation and amortisation (Ebitda) over the second quarter of last fiscal.
Multi-system operator Siti Networks has reported significant growth across all metrics in its consolidated financial results for the quarter ended September 30, 2018. The Essel Group company, with over 55 million consumers and presence across over 580 locations in India, reported 2.5X growth in operating earnings before interest, tax, depreciation and amortisation (Ebitda) over the second quarter of last fiscal.
Operating Ebitda grew 24%, the highest in last 10 quarters, at Rs 68.2 crore. Operating Ebitda margin expanded 2.1X to 18.2% in the second quarter. Subscription revenue surged around 1.25X to Rs 254.8 crore, aided by strong growth in digital subscription average revenue per user (Arpu), which leapt 19%. This Arpu growth is across DAS phases, with Siti's strong presence in Phase 3 and 4 showing 27% and 43% growth, respectively.
Rajesh Sethi, chief business transformation officer, Siti Networks, said the company has always been the leader in innovation for its customers and partners. "This quarter, we launched Siti PlayTop, our first hybrid set-top box. This has been received extremely well by our customers and partners, and we intend to roll out more such boxes over the coming quarters. Taking our customer first commitment ahead, Siti has partnered with Paytm to bring multitude of digital payment solutions. We are working with various partners across the spectrum to bring benefits of convergence to our customers," he said.
The recent Supreme Court order, the company management said, has paved the way for the introduction of the new tariff order. "Provisions of the order are aimed to increase transparency and create a level playing field. In preparation for successful implementation of the tariff order, Siti has been working on smart tiered packaging and has undertaken significant technological and process enhancements while ensuring training and education for all stakeholders," the company said in a statement.
"The new tariff order enables customers to subscribe channels of their choice and brings pricing parity across various platforms. This is a very positive move for the long-term Arpu growth of the ecosystem. Siti is fully prepared to implement the tariff order and well-aligned to drive Ebitda and margin expansion based on our profitable growth strategy," Sethi said.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Siti Networks")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}