Siti Networks stock gains ~2.5% on robust Q4FY20 numbers

FY20 Total Revenue (excluding activation) also jumped 15.3% over FY19 to Rs16,354mn.

Jun 30, 2020 11:06 IST India Infoline News Service

SITI Networks Limited, has released its consolidated audited financial results for Q4 and full year FY20, ending March 31, 2020 on Monday. On the back of sustained efforts in FY20, SITI reported continuous growth through operational efficiencies and strict control on expenses across all metrics.

The Multi-System Operators (MSO) from Essel Group company, SITI’s operating EBITDA for FY20 surged by 1.2x to Rs3,538mn by efficiently leveraging existing operating resources. Its operating EBITDA for Q4FY20 also jumped 2.5% to Rs861mn year on year. Q4FY20 also saw further consolidation in SITI’s Operating EBITDA Margins which grew 1.02X to 21.6% on y-o-y basis.

Subscription Revenue for Q4FY20 grew 25.3% y-o-y to Rs2,842mn. For FY20 too, Subscription Revenue surged 21.3% to Rs11,567mn. Total Revenue (excluding activation) for Q4FY20 surged ~23% y-o-y to Rs4,128mn. FY20 Total Revenue (excluding activation) also jumped 15.3% over FY19 to Rs16,354mn.

SITI Broadband continued its focus on providing the best technology to its customers by launching a composite FTTX based network architecture which would make enable customer premises with the best of online and linear content. Implementation of this composite model will benefit both SITI Networks and SITI Broadband, while providing IOT based services to customers.

“In the fight against COVID-19 pandemic, SITI’s team and 24,000+ strong distribution network is playing a significant role. During lockdown, SITI’s field staff, Contact Centre and Distribution Partners worked diligently on the ground to ensure that customers stayed indoors and provided best in class infotainment and keep the world connected to them.

To cope with the lockdown and the need to protect its staff, SITI also ensured remote work  from home for all its staff while maintaining strict quality control and monitoring of services,” company said.

Siti Netwroks Ltd. is currently trading at Rs2.13 up Rs0.05 or 2.40% than previous closing of Rs 2.08 on the BSE.

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