SITI Networks Limited, one of India’s largest MSOs, has reported revenue (excluding activation) increase to Rs. 3,672 million in Q2 of FY22 from Rs.3,615 million in the previous quarter.
The company’s subscription revenue, however, remained flat at Rs. 2,350 million in Q2. SITI Broadband too observed a base jump of 20 percent y-o-y and 7 percent q-o-q to Rs. 2.19 lakhs at the end of September 30, 2021 quarter.
SITI Broadband’s revenue in Q2 increased 4.1 percent over the previous quarter and 11 percent y-o-y to Rs. 288 million.
In a regulatory filing, the company said it has announced the launch of the SITI Mitra (SITI Friend) mobile app for its 25,000+ LCO partners. The app has a fully functional “Own Your Customer” subscriber management system, allowing partners to have control of their businesses. The app is available on the Google Play store.
Commenting on the financial results, Anil Malhotra, CEO of SITI Networks Limited, said, “SITI’s continued focus on operational efficiencies and strict control over expenses has ensured that our operating EBITDA is Rs.509 Mn in Q2FY22 with 13.9% operating EBITDA margins. Our total revenue also increased to Rs.3,672 Mn in Q2FY22.
“We have always had our ears to the ground, and the launch of the SITI Mitra mobile app for our partners is a testament to that.”