News Broadcasting
Intelsat’s Q3 shows 13 % increase over FY 2003
MUMBAI: Intelsat has reported revenue increases of 13 per cent in the third quarter results over the previous year.
The global satellite communications provider, today, reported results for the three months and nine months ended September 30, 2004.
Intelsat reported revenue of $266.2 million and income from continuing operations of $10.7 million for the quarter ended September 30, 2004, says a company release.
The company also reported EBITDA from continuing operations, or income from continuing operations before interest, taxes and depreciation and amortization, of $180.7 million for the quarter.
For the first nine months of 2004, Intelsat reported revenue of $760.5 million and income from continuing operations of $56.0 million. EBITDA from continuing operations for the nine-month period was $526.7 million.
As previously announced, in September 2004, Intelsat entered into an agreement to dispose of its indirect 51per cent equity interest in Galaxy Satellite broadcasting limited. As a result, Galaxys results are reflected in Intelsats financial statements for the three and nine months ended September 30, 2004 as discontinued operations. In addition, Intelsats financial statements for prior periods have been restated on this basis.
For the three months ended September 30, 2004, Intelsat recorded a loss from discontinued operations of $27.8 million, as compared to a loss from discontinued operations of $0.5 million for the three-month period ended September 30, 2003.
For the first nine months of 2004, Intelsat recorded a loss from discontinued operations of $37.8 million, as compared to a loss from discontinued operations of $0.9 million for the first nine months of 2003.
Speaking about the result Intelsat chief executive officer Conny Kullmanto, “Our third quarter results reflect three important trends in our business. First, we have been increasingly successful in further penetrating the video and corporate data networks markets in North America, with continued revenue improvement on the Intelsat Americas satellites. Revenue from video applications represented 22 per cent of our total revenue for the quarter as compared to 16 per cent in the third quarter of 2003.
Second, we continue to see strong performance from our managed services offerings such as GlobalConnexSM and OVS, with managed services again posting a sequential quarterly growth rate of 20 per cent and more than offsetting the declines in our legacy channel and carrier services that were anticipated. Third, our revenue backlog at September 30 held steady at $4.0 billion. These factors demonstrate the stabilization of our business and relative strength as we look towards 2005,” he added.
“With growing stability in our revenue, and capital expense requirements that we expect will be reduced to maintenance levels in the near to mid term, we believe Intelsat is positioned to generate strong, sustained free cash flow, and we will heighten our focus on this aspect of our financial performance,” concluded Kullman.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
