Ebitda margins expanded significantly by 975 bps YoY to 24.5%. Subscription revenue spiked 21.4% on-year to Rs 257.1 crore in Q3
Siti Networks reported 1.9 times on-year increase in operating earnings before interest, tax, depreciation and amortisation (ebitda) at Rs 93 crore for the December quarter of fiscal 2019. Total revenue, excluding activation increased 12% over last year to Rs 379 crore.
Operating (ebitda) margins expanded significantly by 975 basis points (bps) YoY to 24.5%. Subscription revenue spiked 21.4% on-year to Rs 257.1 crore in the third quarter, aided by the steady growth in digital subscription.
Subscription revenue for the nine months grew faster at 24% and was at Rs 726.8 crore. Blended average revenue per user (Arpu) increased substantially by 19% on-year. This Arpu improvement was broad based across phases, with Siti’s ubiquitous presence in Phase III and IV showing 23% and 35% growth respectively. The company also ensured subscription collection efficiency of 94% in the December quarter of current fiscal.
Rajesh Sethi, chief business transformation officer, Siti Networks Ltd, said, the company continued its strong growth trajectory and grew its nine months subscription revenue by 24% compared to last year.
“This, coupled with leveraging inherent operational synergies allowed us to deliver stupendous nine months operating ebitda at Rs 216.1 crore, a growth of 118% on-year. Simultaneously, a focus on prudence and lean operations expanded operating ebitda margins 1.9x to 20%. We made extensive preparations for a considered migration to the new tariff order regime with a focus on customer choice, business associate exigency and regulatory compliance,” said Sethi. adding that the functionality of Siti’s subscriber management system was enhanced to allow seamless transition.
CLEAR PICTURE
- Ebitda margins expanded significantly by 975 bps YoY to 24.5%. Subscription revenue spiked 21.4% on-year to Rs 257.1 crore in Q3
- SNL’s nine months subscription revenue grew by 24% YoY
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Rajesh Sethi, chief business transformation officer, Siti Networks Ltd, said, the company continued its strong growth trajectory and grew its nine months subscription revenue by 24% compared to last year.
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