New Delhi: SITI Networks Limited, an Essel Group company, reported growth in its operating EBITDA by 2x to Rs 3,001 million in FY19.
Leveraging existing operating resources and focus on cost effectiveness reflected in the operating expenses being flat on an annualised basis and declining on a quarterly basis. This manifested itself in Operating EBITDA Margin expanding significantly by 912bps in FY19 to 21.2 percent, the company said in a statement.
Subscription revenue increased by 19 per cent to Rs 9,537 million in FY19, aided by improving monetization and up-selling better value offerings to our esteemed customers.In the quarter ended March 2019, SITI ended with an active subscriber base at 8.2 million.
"SITI Networks maintained its consistent growth and grew its subscription revenue by 19 per cent YoY in consonance with tariff order implementation. A twin focus on cost effectiveness and improved monetization helped us to deliver strong operating EBITDA at INR3,001 mn, a growth of 2x and simultaneously expanding margins 1.8x to 21.2 per cent", Rajesh Sethi of SITI Networks Limited said.