Cable TV

SITI Networks' Q1FY22 Operating EBITDA jumps 33.1% to Rs 537 Mn

SITI Networks Ltd announced consolidated Ind-AS results for Q1FY22

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New Delhi: SITI Networks, an Essel Group company and multi-system operator (MSO), has released its consolidated audited financial results for Q1FY22 ending June 30.

In line with its profitable growth strategy, SITI has maintained persistent elevation in operating EBITDA reporting 33.1 per cent growth over Q4FY21. The company reported operating EBITDA of Rs 537 million in Q1FY22 as against Rs 403 million q-o-q basis.

The company’s operating EBITDA margin expanded to 14.8 per cent in FY22 against 10.4 per cent in the previous quarter. This was achieved through building up operating efficiencies and strict control over costs.

Total revenue (excluding activation) stood at Rs 3,619 million in Q1FY22. The company earned a subscription revenue of Rs 2,378 million in Q1FY22.

SITI Broadband's net base increased 22 per cent y-o-y to Rs 2.06 lakh at the end of Q1FY22. SITI Broadband’s Q1FY22 revenue also surged 25.2 per cent y-o-y to Rs 276 million.

SITI Networks CEO Anil Malhotra said, "SITI had a good quarter on the back of our focus on operational efficiencies, and strict control over expenses. Our operating EBITDA surged 33.1 per cent q-o-q to Rs 537 million and operating EBITDA margins expanded to 14.8 per cent in Q1FY22. SITI Broadband's base increased 22 per cent y-o-y to Rs 2.06 lakh while its revenue surged 25.2 per cent y-o-y to Rs 276 million in Q1FY22."

"This quarter provided us with the necessary momentum to further drive our efficiency focus throughout FY22. We intend to focus on it along with solid EBITDA and margins growth, in line with our core strategy of profitable and sustainable growth," he added.

 

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