Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

SITI Networks Limited announces Q1FY19 consolidated results

Posted On: 2018-08-09 08:09:33


SITI Networks Limited (BSE: 532795, NSE: SITINET), has released its Consolidated Financial Results for Q1FY19, ending June 30, 2018.

- Operating EBITDA up by 146% at Rs. 549 Mn
- Operating EBITDA Margins leap 2.1x
- Subscription Revenue surges 26.3% to Rs. 2,149 Mn
- Total Revenue1 up 15% to Rs. 3,282 Mn
- SITI reaches 11.7 Mn active digital subscriber base

In line with SITI's Profitable Growth Strategy, SITI has maintained persistent elevation in Operating EBITDA reporting 146% growth over first quarter of last fiscal. SITI reported Operating EBITDA of Rs.549 Mn in Q1FY19 as against Rs.223 Mn on Y-o-Y basis.

The company's Operating EBITDA Margin expanded by 892 bps to ~17%. This has been driven by Subscription Revenue surge of 26.3% to Rs. 2,149 Mn and nearly flat growth in expenses.

SITI has initiated a country-wide monetization increase program in June 2018. This has resulted in a 17% increase in ARPU. The Company has also improved its subscription collection efficiency, surpassing 93% in June 2018 exit, which has further risen to 97% exit July'18.

The Company's active digital subscriber base also reached 11.7 Mn by end of the first quarter with 3.5 lakh fresh additions. The company now serves ~55 Mn+ consumers in ~580+ locations across the country. SITI's HD base also increased to 3.56 lakh by adding 41,000 subscribers in the quarter.

In preparation for the New Tariff Order, SITI is working on Smart Tiered Packaging to offer customers bespoke options and great value. This will further help SITI in implementing the New Tariff Order regime later in this fiscal. The Company has undertaken significant technological and process enhancements for its Subscriber Management System while initiating training and education modules for all stakeholders on the New Tariff Order.

As an Industry first, SITI implemented the "eMIA Initiative" to ensure digitization of agreements with all partners.

To drive employee engagement and enhance operating efficiencies, SITI launched a customized app for its employees called "My SITI". This has helped to promote a high-performance culture across the organization through real-time monitoring and evaluation of various operational and strategic parameters. With a clear focus on last mile connect, a customer engagement application is under beta testing phase which will provide real-time details of consumer package, profile information & social connect.

While commenting on the results, Mr. Rajesh Sethi of SITI Networks Limited mentioned - "SITI had a great start to FY19 with strong improvement across all operational metrics. Our "Customer First" strategy helped drive superlative 146% Operating EBITDA growth coupled with expansion of 892 bps in the margins.

While we increased our Subscription Revenue nearly 26% year on year, we have further initiated an ARPU increase program and the results will be visible in the coming Quarters. With the New Tariff Order notification, we are well positioned to move to the new regime. Our systems and processes are ready for this seismic transformation of last mile operations. In FY19, we intend to drive efficiencies along with solid EBITDA and Margins growth, in line with our core strategy of profitable and sustainable growth."

Shares of Siti Networks Ltd was last trading in BSE at Rs.11.6 as compared to the previous close of Rs. 12.04. The total number of shares traded during the day was 6543 in over 61 trades.

The stock hit an intraday high of Rs. 12.04 and intraday low of 11.6. The net turnover during the day was Rs. 76887.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

KEC International acquires an EPC company in the Oil and Gas Pipelines sector

Bliss GVS Pharma Limited purchases immovable property from JMFARC

Adani Ports and Special Economic Zone Ltd board approves issue of NCDs to raise Rs. 1000 crore

Shree Ganesh Remedies Limited board recommends 1:5 bonus issue

Sobha Ltd appoints Mr. Yogesh Bansal as CFO

Orchid Pharma Ltd updates on transfer of formulations business

IRB Sindhudurg Airport Pvt. Ltd., receives Aerodrome License for its Sindhudurg Airport at Chipi

INOX Leisure Limited starts commercial operations of Multiplex Cinema Theatre at Reliance Mall, Bhilwara

Zydus Cadila receives final approval from USFDA for Vortioxetine Tablets

ISGEC Heavy Engineering Ltd shareholders approve appointment of directors

Apollo Hospitals Perform India's First True Robotic Bariatric Surgery using Robotic Staplers

IIFL Home Finance signs agreement for Co-lending with Punjab National Bank

CM Naveen Patnaik Inaugurates the extended Alumina refinery of Utkal Alumina at Kashipur, Rayagada

Tamilnad Mercantile Bank Inaugurates e-Lobby at Tirumala

Eveready Industries Ltd initiates recovery proceedings for Rs. 4.12 crores from McNally

India Ratings Revises Aegis Logistics' Outlook to Positive, Affirms 'IND AA'

Route Mobile Limited board to consider fund raising proposal on Sep 22, 2021

HLE Glascoat to acquire the global business of Thaletec GmbH

MAS Financial Services Ltd raises INR 100 crore via market-linked NCDs (MLD)

NCL Industries Ltd inks JV agreement with Moravia Containers A.S.

Asian Energy Services Limited to invest in VAAN Electric Moto Pvt Ltd

NODWIN Gaming acquires gaming adjacent IPs and gaming talent business from OML Entertainment for INR 73 Crores

Bajaj Finance Ltd invests Rs. 195.54 crore in Bajaj Finserv Direct Ltd

Vipul Organics Ltd to acquire industrial land

Wipro announces Co-innovation Space with Google Cloud

NODWIN to acquire Gaming and Live IPs of OML Entertainment Pvt Ltd

Mr. Venugopalan Kesavan resigns as Group CFO of Narayana Hrudayalaya Ltd

G E Shipping delivers its 2003 built Aframax Crude Carrier 'Jag Lata'

Intellect announces Strategic Partnership with Resurs Bank

JM Financial Products Limited announces Tranche I Public Issue of upto Rs. 500 crore of NCDs

Ramky Infrastructure Limited bags contract of Rs. 250 crores

The Shipping Corporation of India Ltd gets Ministry approval for demerger of non-core assets

Moneyboxx Finance raises INR 7.5 crore from DCB Bank Ltd

pTron launches Gaming Earbuds and 3 New TWS Earbuds ahead of the Festive Season, Prices starts at 999/-

Gloster Limited signs MoU with Telangana Government for investment of Rs. 330 crores

Sobha Limited announces resignation of CFO

Bajaj Holdings & Investment Ltd board declares interim dividend of Rs. 90

Coral Laboratories Ltd announces resignation of Non-Executive Director

SAB Industries Ltd announces resignation of MD

Dynamatic to manufacture Aerostructure Assemblies for Boeing's F-15EX Eagle II Fighter Aircraft

Zensar recognized as a Disruptor in Avasant' s Digital Talent Capability 2021 RadarView™report

eClerx Services Limited board approves buy back of shares at Rs. 2850

IDFC Ltd to divest its mutual fund business

Matrimony.com Limited to acquire 100% stake in Boatman Tech Pvt Ltd

Rajesh Exports Ltd gets new Export Order worth Rs. 691 Crores from Germany, Europe

Garment Mantra Lifestyle Limited opens 11th store at Coimbatore

Biocon Biologics and Serum Institute Life Sciences announce Strategic Alliance

Shreyas Shipping & Logistics Ltd to acquire bulk carrier

Precision Camshafts Limited retrofits passenger AC bus into 100% Electric Bus

Mahindra and Mahindra restructures its Farm Equipment business in Turkey


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020