SITI Networks Q3 FY 21 EBIDTA zooms to Rs 638 million

Essel Group-owned Multi-System Operator (MSO) SITI Networks yesterday declared the consolidated financial results for the quarter ending December 31, 2020. SITI’s Q3 FY 21 performance showed a continued focus on strict control on expenses and operational efficiences.

SITI’s Q3 FY 21 operating EBIDTA surged to Rs 638 million achieved through strict control over expenses and operating efficiencies. The operating EBIDTA margin for Q3 FY 21 zoomed to 16.3 percent through control of various cost elements.

SITI Network’s total revenue (excluding activation) remained flat compared to the trailing quarter at Rs 3,906 million with subscription revenue too remaining mostly flat compared to the last quarter at Rs 2,706 million.

“SITI’s continued focus on operational efficiencies and strict control over expenses has ensured our Operating EBITDA moving to Rs.638 Mn and Operating EBITDA margins remaining at a healthy 16.3% in Q3 FY21. Our Total Revenue (excluding Activation) largely remained flat compared to the previous quarter to Rs.3,906 Mn in the same period. During the quarter, SITI Broadband also expanded its footprint to cover 21 cities across the country with a 1.9 lakh strong and growing base. Our close working with our 24,000+ ground distribution partners would stand us in good stead over the coming quarters, focusing on sweating of assets. “

Anil Malhotra, CEO of SITI Networks Limited