Cable TV
Q1-2016: Siti Cable broadband revenue up 64%; Operating income up 9%
BENGALURU: Subhash Chandra led Essel Group’s Siti Cable Network Limited (Siti Cable) reported operating revenue (total income from operations, or TIO) of Rs 228.09 crore in the quarter ended 30 June, 2015 (Q1-2016), which was 9.1 per cent higher than the Rs 209.02 crore in Q1-2015, but was 10.9 per cent lower QoQ than the Rs 256.01 crore in Q4-2015.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore.
(2) All numbers in this report are consolidated unless stated otherwise.
Both television and broadband subscription revenue registered YoY growth, broadband reported 63.6 per cent growth at Rs 9 crore in Q1-2016 as compared to the Rs 5.5 crore in the corresponding year ago quarter and was 13.9 per cent more than the Rs 7.9 crore in the immediate trailing quarter.
Subscription revenue in Q1-2016 at Rs 129 crore was 9.1 per cent higher than the Rs 118.2 crore in Q1-2015, but declined 9.4 per cent as compared to the Rs 142.4 crore in Q4-2015. Activation revenue at Rs 10.9 crore in the current quarter was 25.3 per cent lower than the Rs 14.6 crore in Q1-2015 and was 48.3 per cent lower than the Rs 21.1 crore in Q4-2015. Siti Cable says that effective realisation per subscriber remained flat during the current period.
Siti Cable’s cable universe increased by 200,000 digital subscribers to 107 lakh in Q1-2016 from 105 lakh in Q4-2015. Digital subscriber base increased in the current quarter to 55.8 lakh from 53.8 lakh in Q4-2015. Net broadband additions in the current quarter were 4400 – the count went up to 74,500 from 70,100 in the previous quarter (Q4-2015).
Let us look at the other numbers reported by Siti Cable
Siti Cable reported a higher loss of Rs 37.11 crore in Q1-2016 as compared to the loss of Rs 31.67 crore in Q1-2015 and a loss of Rs 34.13 crore in Q4-2015.
EBIDTA including other income for Q1-2016 increased 5.1 per cent to Rs 38.1 crore as compared to the Rs 36.26 crore in Q1-2015 and was 18.7 per cent more than the Rs 32.11 crore in Q4-2015.
Total Expenditure in Q1-2016 increased 12 per cent to Rs 228.21 crore (100.1 per cent of TIO) as compared to the Rs 203.76 crore (97.5 per cent of TIO) in Q1-2015, but was 18.6 per cent lower than the Rs 280.49 crore (109.6 per cent of TIO) in the previous quarter.
Pay channel costs in the current quarter increased 8.1 per cent to Rs 135.70 crore as compared to the Rs 125.55 crore in Q1-2015 but was 13.6 per cent lower than the Rs 156.98 crore in Q4-2015.
Siti Cable’s Finance costs in Q1-2016 increased 11.6 per cent to Rs 33.90 crore as compared to the Rs 30.37 crore in Q1-2015 and were 9.2 per cent more than the Rs 31.05 crore in Q4-2015.
Other expenses increased 13.9 per cent in the current quarter to Rs 43.32 crore as compared to the Rs 38.05 crore in Q1-2015 but were 40.3 per cent lower than the Rs 72.53 crore in Q4-2015.
“Our commitment to improving operational efficiency and streamlining operations continues, leading to EBITDA growth of 18.7 per cent and Margin expansion by 501 bps QoQ,” said Siti Cable executive director and CEO VD Wadhwa.
“We managed to grow our Broadband revenues by 13.4 per cent QoQ and are on track to expand our Broadband operations in new cities. Delays in content availability held back STB seeding, however we are well poised to expand aggressively this quarter. During the quarter we have further tightened our credit control measures and started taking strict actions against defaulting operators, which shall result into improved credit discipline and saving in operating cost,” added Wadhwa.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
