Siti Cable reports 3.7m subs

Indian MSO Siti Cable, backed by the giant Zee TV/Essel media conglomerate, says it had 3.7 million subscribers at December 31st, and revenues which had grown 42 per cent year-on-year, and moved EBITDA positive during the quarter-year (EBITDA up 73 per cent)..

“Digital cable television is a major engine of growth for Siti Cable across all geographies,” said Subhash Chandra, Chairman of Siti Cable. “The ongoing digitalisation is providing new impetus for growth and value in India though we are still early in the value creation process.”

V D Wadhwa, CEO of SITI Cable commented, “We have gained further momentum in the third quarter of fiscal 2014. Our total revenue and EBITDA grew to Rs. 1773 million and Rs. 350 million respectively, a healthy growth of 42 per cent and 73 per cent respectively over corresponding quarter of last fiscal. We have maintained our margins through operational efficiency improvements despite stiff challenges faced at market place on account of DAS billing. We have made the healthy progress in collection of DAS subscription revenue which is way ahead of competition.”

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