Cable TV
Q2-2016: Siti Cable revenue up 6.8% at Rs 234.2 crore
BENGALURU: The Essel Group’s Subhash Chandra led Siti Cable Network Limited (Siti Cable) reported 6.8 per cent YoY growth in operating revenue (total income from operations, or TIO) for the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 234.21 crore from Rs 219.25 crore and a 2.7 per cent QoQ increase from Rs 228.09 crore.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore.
(2) All numbers in this report are consolidated unless stated otherwise.
EBIDTA including other income in the current quarter increased 12.5 per cent YoY to Rs 51.53 crore (22 per cent margin) from Rs 45.79 crore (20.9 per cent margin) and increased 35.2 per cent QoQ from Rs 38.10 crore (16.7 per cent margin).
The company reported a loss of Rs 22.92 crore (almost flat) YoY as compared to the loss of Rs 22.87 crore, but lower than the loss of Rs 27.71 crore in Q1-2016.
Subscription numbers
The company says that it added 3.30 lakh digital video subscribers in the current quarter as compared to two lakh additions in the immediate trailing quarter. Its digital cable subscriber base has increased 59 lakh from 56 lakh. Overall the company claims a cable subscriber base of 107 lakh, same as the corresponding quarter of last fiscal.
Subscription revenue in the current quarter increased 2.6 per cent YoY to Rs 138.50 crore from Rs 135 crore and increased 7.4 per cent QoQ from Rs 129 crore. Carriage revenue in the current quarter increased 2.7 per cent YoY to Rs 60.30 crore from Rs 58.70 crore but reduced 17.3 per cent QoQ from Rs 72.90 crore.
Activation revenue in the current quarter increased 78 per cent to Rs 19.40 crore from Rs 10.90 crore in the corresponding year ago quarter and increased 48.1 per cent from Rs 13.10 crore in the immediate trailing quarter.
Siti Cable says that it has added 16,950 broadband subscribers in Q2-2016, taking its broadband subscriber base 91,450 from 74,500 in the previous quarter. Broadband revenue increased 50 per cent YoY in Q2-2106 to Rs 9.30 crore from Rs 6.20 crore and increased 3.3 per cent QoQ from Rs 9 crore.
Let us look at some of the other numbers reported by Siti Cable:
The company’s Total Expenditure in the current quarter increased 9.2 per cent YoY to Rs 228.09 crore (97.4 per cent of TIO) from Rs 208.89 crore (95.3 per cent of TIO) and was flat (declined 0.05 per cent) QoQ as compared to Rs 228.21 crore (100.1 per cent of TIO).
Pay channel costs in the current quarter increased 5.8 per cent to Rs 124.01 crore (52.9 per cent of TIO) as compared to Rs 117.23 crore (53.5 per cent of TIO), but declined 8.6 per cent QoQ from Rs 135.70 crore (50.5 per cent of TIO).
Other expenses increased 4.8 per cent in the current quarter to Rs 50.07 crore (21.4 per cent of TIO) as compared to Rs 47.77 crore (21.8 per cent of TIO) and increased 15.6 per cent from Rs 43.32 crore (19 per cent of TIO) in Q1-2016.
Siti Cable’s finance costs in the current quarter increased 15.8 per cent YoY to Rs 34.27 crore (14.6 per cent of TIO) from Rs 29.58 crore (13.5 per cent of TIO) and increased 1.1 per cent QoQ from Rs 33.90 crore (14.9 per cent of TIO).
Company Speak
Siti Cable executive director and CEO V D Wadhwa said, “A focus on improved operational performance resulted in EBITDA growth of 35.2 per cent and EBITDA Margin at 21.2 per cent, an expansion by 467 bps sequentially. We are looking to further streamline our Broadband operations to provide stellar customer experience. Our commitment to digitisation of Phase 3 areas remains and we expect this to gain further momentum in the coming quarter.”
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.
