Siti Network earlier this week declared the financial results for the quarter ending March 31, 2020. Siti Network reported a net loss of Rs 70.29 crore in Q4 FY 20 while subscription revenue for Q4 FY20 grew 25.3% y-o-y.
Results at a Glance
- Total income in Q4 FY 20 at Rs 413.36 crore
- Total expenses in Q4 FY 20 at Rs 451.02 crore
- Net loss in Q4 FY 20 at Rs 70.29 crore
- Total income in FY 20 at Rs 1635.72 crore
- Total expenses in FY 20 at Rs 1781.33 crore
- Net loss in FY 20 at Rs 188.16 crore
Siti Network’s total income in Q4 FY 20 stood at Rs 413.36 crore, up from Rs 407.94 crore in the preceding quarter. The total expenses stood at Rs 451.02 crore, up from Rs 442.16 crore in Q3 FY 20. The net loss stood at Rs 70.29 crore, up from Rs 33.59 crore loss in the previous quarter.
Siti Network’s total income in FY 20 stood at Rs 1635.7 crore, up from Rs 1474.37 crore in FY 19 whereas the total expenses in FY 20 stood at Rs 1781.33 crore, up from Rs 1654.2 crore in FY 19. The net loss in FY 20 stood at Rs 188.16 crore, down from net loss of Rs 264.28 crore net profit in FY 19.
“SITI Networks continued its consistent growth focus while maintaining a strict control on operational efficiencies during FY20. Our subscription revenue for Q4FY20 grew by 25.3% YoY, while our total revenue grew by ~23% YoY. Even for FY20, our total revenue jumped by 15.3% to Rs. 16,354 Mn. Our constant mantra of improving operational efficiencies while improving monetization helped us to deliver strong operating EBITDA at INR3,538 mn, in FY20, a surge of 1.2 times. Our response to COVID-19 pandemic has been widely appreciated. Our teams and partners have left no stone unturned to ensure that our customers get the best services.”
Mr. Anil Malhotra, CEO, SITI Networks Limited