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Siti Cable Network Ltd continues to bleed, but at a lower rate compared to a year ago. 2013 net loss was down 30% to ₹ 64.07 Crore.
The company claims a reach of 10 million Cable TV homes, through its 56 analogue and 14 digital head ends. Q4-2013 total revenues increas ed 60.7% to ₹ 147.74 Crore. During fiscal 2013, material costs zoomed to ₹ 82.46 Crore from ₹ 56.29 C r o r e . E m p l o y e e costs spurted to ₹ 9.29 Crore from ₹ 6.78 Crore. Total expenses including depreciation/ amortisation and selling/distribution expenses shot up to ₹ 145.68 Crore from ₹ 97.21 Crore in Q4-2012.
Consolidated operating profit (EBITDA) jumped to R 26.02 Crore for Q4 ending 31 March 2013 from ₹ 3.1 Crore. Due to its finance cost of ₹ 25.77 Crore, Profit after Tax was negative at ₹ 25.68 Crore, up from ₹ 19.48 Crore for Q4-2012, while the bottom-line reported a net loss of ₹ 27.81 Crore in Q4-2013 as against a net loss of ₹ 24.34 Crore
Siti Cable CEO V D Wadhwa says: "We have taken several key steps like providing OYC system, carriage revenue share, training for our business partners and customer education to ensure the smooth transition to digital regime."
The company claims a reach of 10 million Cable TV homes, through its 56 analogue and 14 digital head ends. Q4-2013 total revenues increas ed 60.7% to ₹ 147.74 Crore. During fiscal 2013, material costs zoomed to ₹ 82.46 Crore from ₹ 56.29 C r o r e . E m p l o y e e costs spurted to ₹ 9.29 Crore from ₹ 6.78 Crore. Total expenses including depreciation/ amortisation and selling/distribution expenses shot up to ₹ 145.68 Crore from ₹ 97.21 Crore in Q4-2012.
Consolidated operating profit (EBITDA) jumped to R 26.02 Crore for Q4 ending 31 March 2013 from ₹ 3.1 Crore. Due to its finance cost of ₹ 25.77 Crore, Profit after Tax was negative at ₹ 25.68 Crore, up from ₹ 19.48 Crore for Q4-2012, while the bottom-line reported a net loss of ₹ 27.81 Crore in Q4-2013 as against a net loss of ₹ 24.34 Crore
Siti Cable CEO V D Wadhwa says: "We have taken several key steps like providing OYC system, carriage revenue share, training for our business partners and customer education to ensure the smooth transition to digital regime."
