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SITI Networks declares superlative growth on quarterly and y-o-y basis
MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group company, with 55Mn+ consumers and presence across 580+ locations in India, has released its Consolidated Financial Results for Q2FY19, ending September 30, 2018, showcasing superlative growth across all metrics, both quarterly and year-on- year.
SITI’s Operating EBITDA grew 2.52x over second quarter of last fiscal, a 24% quarterly growth, and the highest in last 10 quarters to Rs. 682 Mn. SITI’s Operating EBITDA Margin also expanded by 2.1x to 18.2% in Q2FY19.
Subscription revenue surged ~ 1.25x to Rs. 2,548 Mn in Q2FY19, aided by the strong growth in Digital Subscription ARPU, which leapt 19%. This ARPU growth is across DAS phases, with SITI’s strong presence in Phase 3 and 4 showing 27% and 43% growth respectively.
On quarterly basis, SITI has demonstrated a significant growth on all the financial metrics. Operating EBITDA has jumped by 1.24x while Operating Margins expanded 150 bps over the previous quarter. Subscription Revenue registered a sharp growth of ~19% sequentially over the last quarter. With consistent focus on last mile operations, SITI achieved subscription collection efficiency of 95%.
In the quarter ending September 2018, SITI continued its new customer acquisitions by adding 3 lakh new Digital Subscribers, with current Active Subscriber base at 11.75 Mn. SITI has launched PlayTop, its 1st Hybrid Set Top Box, in line with its “Customer First” strategy. SITI will be introducing a range of innovative converged offerings over the coming quarters.
SITI announced its partnership with Paytm, India’s largest digital payment company to provide multiple digital payment options to its customers and attractive cashback benefits in select areas. SITI Networks’ has also made Paytm’s digital payment facility available to its 24,000+ distribution partners across the country who can make online payments through various modes on the SITI Networks website.
Hon’ble Supreme Court has paved way for the introduction of the new tariff order. Provisions of the order are aimed to increase transparency, and create a level playing field. In preparation for successful implementation of the Tariff Order, SITI has been working on Smart Tiered Packaging and has undertaken significant technological and process enhancements while ensuring training and education for all stakeholders.
While commenting on the results, Mr. Rajesh Sethi of SITI Networks Limited mentioned –
“SITI Q2FY19 performance has been strong and phenomenal with all round growth across all operational metrics. 2.52x growth in Operating EBITDA and 2.1x expansion in the margins is a testament to strong operational focus of the team. SITI’s Digital Subscriber ARPU went up by 19% and Subscription Collection efficiency improved to 95% in this quarter. This ARPU leap has been broad-based across the country to ensure consistent growth in Subscription Income in the coming quarters.
SITI has always been the leader in innovation for its customers and partners. This quarter, we launched SITI PlayTop, our 1st Hybrid Set Top Box. This has been received extremely well by our customers and partners, and we intend to roll out more such boxes over the coming quarters. Taking our Customer First commitment ahead, SITI has partnered with Paytm to bring multitude of digital payment solutions for our customers. We are working with various partners across the spectrum to bring benefits of convergence to our customers.
New Tariff order enables customers to subscribe channels of their choice and brings pricing parity across various platforms. This is very positive move for the long term ARPU growth of the ecosystem. SITI is fully prepared to implement the Tariff Order and well aligned to drive EBITDA and Margins expansion based on our Profitable Growth Strategy.”
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
