ITV

Category: Multi System Operators

  • NxtDigital board approves merger with Hinduja Leyland Finance

    NxtDigital board approves merger with Hinduja Leyland Finance

    Mumbai: At its meeting on Wednesday, the board of directors of NxtDigital Ltd (NDL) has accorded an in-principle approval for merger of Hinduja Leyland Finance Ltd (HLFL), a non-banking finance company into NDL, subject to all statutory or regulatory approvals and approval of the shareholders.

    The proposed acquisition will result in the merged entity having assets aggregating above Rs 29,000 crore and the shareholders receiving shares pursuant to the share swap valuation. The company will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio.

    A subsidiary of Ashok Leyland, HLFL is one of India’s leading finance NBFCs with an AUM of over Rs 29,000 crore and a pan-India presence in 1,550 locations across 23 states and two union territories. Through a vast network of branches, the company finances a wide range of commercial and personal vehicles, from medium and heavy commercial vehicles, light commercial vehicles and small commercial vehicles to cars, multi-utility vehicles, three wheelers, and two wheelers, as well as various kinds of used vehicles.

    Post the decision to transfer the digital, media and communications business undertaking to Hinduja Global Solutions Ltd, (which is subject to necessary regulatory and shareholder approvals), NDL has been evaluating various proposals in line with its objective of pursuing high growth oriented business opportunities that could bring in incremental value. In line with this commitment to create value for its shareholders, this merger will enable the shareholders of NDL to participate in and be a part of the aggressive growth plans of HLFL.

  • NxtDigital revenue grows 12.8% to reach Rs 807.6 crore in 9MFY2022

    NxtDigital revenue grows 12.8% to reach Rs 807.6 crore in 9MFY2022

    Mumbai: Integrated digital platforms company NxtDigital, the media vertical of Hinduja Group announced its results for the nine month period ending 31 December 2021 and Q3 of FY22.

    The company’s consolidated revenue for the nine months grew by 12.84 per cent to Rs 807.6 crore, up from Rs 715.71 crore for the corresponding period of the previous year. During the same period, the Earnings Before Interest Depreciation and Taxes (EBIDTA) on a consolidated basis was Rs 155.8 crore as against an EBIDTA of Rs 149.81 crore during the corresponding period of the previous year, at a growth of 4.01 per cent.

    The company ended the third quarter with a 10.9 per cent year-on-year growth in EBIDTA at Rs 52.92 crore. It grew by 2.48 per cent over Q2 of this fiscal – after allowing for AGR payment of Rs three crore.

    The company said that its subscription revenues both for digital video and data businesses continued to be completely prepaid thereby generating healthy cash flows.

    NxtDigital also shared that it has paid its debt of Rs 260 crore in line with the objects of the “Rights Issue,” and completed land sale in January 2022 for a consideration of Rs 69.30 crore, reducing debt further by this amount. Debt-to-equity ratio now stands at 1.5, down from over four at the start of the fiscal. The board also reiterated in-principle approval for transfer of the media & entertainment business to Hinduja Global Solutions to fuel its next phase of growth; subject to regulatory and other approvals.

    Vision For NxtDigital

    The company also recorded progress on the acquisition of the digital and media businesses by Hinduja Global Solutions Ltd (HGSL) which is subject to all statutory or regulatory approvals and approval of the shareholders. The move aims to fuel the expansion plans of NDL in the digital space, as it looks to grow its digital portfolio across video, broadband, OTT and WIFI services. The company said that it has also appointed independent valuers to carry out the valuation exercise and will submit a detailed report including the share exchange ratio once ready.

    Post the proposed acquisition, the company said it will review and assess proposals received, to define new business verticals for the future that will be moulded on the same lines, defining a robust roadmap for growth.

    Key Business Drivers For Growth In Q3

    The company said it took several digital initiatives to provide an end-to-end digital user experience for its customers – covering digital video, broadband and OTT services; the success of which is reflected in the growth of its subscriber base across its digital platforms.

    It continued to push its broadband penetration into new markets, expanding its subscriber base, and also launched the first “combo” product that offers offers up to 700 digital television channels + up to 300,000 hours of OTT content from leading international, national and regional OTT platforms + broadband, with speeds up to 1,000 Mbps – all through a single product offering.

    NxtDigital CEO and MD Vynsley Fernandes said, “Our Q3 strategy hinged on leveraging our unique technology, national footprint and our digital product portfolio to adapt to changing customer preferences vis-à-vis consumption of digital services. Whether our broadband push, our roll-out of NXTHUBs nationally or the launch of the first ‘combo’ product covering digital TV, OTT and broadband – our focus was on giving our customers a unique digital user experience.”

    Growth Drivers In Q4

    For Q4, it said the focus will remain on not just rolling out more NXTHUBs but also increasing the product capability that could extend shortly to WiFi and other e-services. “Broadband will remain a key driver for growth, as it continued to proliferate into NxtDigital markets offering currently digital television only. The ‘combo’ product offering nationally and operationalisation of its infrastructure sharing platform further drive growth as the media group continues on its path of digital transformation,” it stated on Saturday.

  • Hathway Cable reports gross revenues of Rs 455 cr for Q3 FY22

    Hathway Cable reports gross revenues of Rs 455 cr for Q3 FY22

    Mumbai: Hathway Cable and Datacom Ltd posted its third-quarter financial results for FY 2022. The company reported its gross revenue at Rs 455 crore an improvement of three per cent year-on-year.

    The company saw broadband revenue of Rs 154.9 crore and cable TV (CATV) revenue of Rs 300.1 crore. It posted EBITDA of Rs 122.7 crore and EBITDA margin at 27 per cent.

    CATV business

    In the last two years, the company has created an extensive incremental infrastructure for market share gain with focus on Southern and Eastern states. “We have connected over 250 new locations with IP links and added 3,000 KMs of fiber network,” it said in a statement.

    The company has piloted a new generation of HD set-top boxes that allow the casting of OTT apps. Hathway Cable TV customers can now access OTT content without any need to buy an additional box. It also piloted a TV plug using which it can provide reliable last mile cable TV connectivity from a mobile tower network. The company has a presence in more than 109 cities and major towns with 5.5 million STBs deployed and 46,000 kms of the fiber cable network.

    ISP business

    The company saw strong FTTH customers acquisition during Q3 FY 22 with net additions of 24,000 FTTH customers. FTTH consumers now account for up to 65 per cent of overall ISP consumers and 70 per cent of ISP revenue.

    The company has 1.08 million broadband subscribers and sees an average consumption of 223 Gb. It has completed next-generation Docsis upgradation in all cities resulting in 70 per cent decline in Docsis speed complaints and 64 per cent of Docsis consumers have been upgraded to 100 mbps speed plans. The company has 76 per cent redundancy in FTTH PON ports up to the splitter level achieved as of December 2021. It saw an average of a single complaint per year per consumer regarding any FTTH service issue. FTTH capacity has been augmented to accommodate 1.2 lakh consumers.

  • GTPL Hathway reports consolidated revenues of Rs 6130 million for Q3 FY22

    GTPL Hathway reports consolidated revenues of Rs 6130 million for Q3 FY22

    Mumbai: GTPL Hathway has announced the financial results for the third quarter and nine months ended on 31 December 2021, as approved by its board of directors.

    The company’s consolidated Q3 FY22 revenue (incl EPC) stood at Rs 6130 million. Its consolidated 9M FY22 revenue (incl EPC) stood at Rs 18,288 million up by five per cent year-on-year.

    The ISP revenue of the company stood at Rs 1054 million up by 35 per cent year-on-year and 9M FY22 IPS revenue stood at Rs 2978 up by 51 per cent year-on-year. The CATV subscription revenues for the company stood at Rs 2702 million.

    The company’s EBIDTA (incl. EPC) stood at Rs 1473 million and ex-EPC stood at Rs 1472 million. Its profit after tax (PAT) stood at Rs 546 million up by 21 per cent year-on-year.

    The company’s 9M FY22 EBIDTA (incl. EPC) stood at Rs 4301 million up by 3 per cent year-on-year and 9M FY22 EBIDTA (ex-EPC) stood at Rs 4277 million up by six per cent year-on-year. Its 9M FY22 PAT stood at Rs 1454 million up by 11 per cent year-on-year.

    At the end of nine months, the company added 5,30,000 home-pass customers and 1,30,000 net broadband subscribers.

    The company reported 7.5 million paying subscribers at the end of 31 December 2022 out of which 4.40 million were home-pass customers, 7,65,000 were total broadband subscribers out of which 2,90,000 are FTTX subscribers. The company’s broadband average revenue per user (ARPU) stood at Rs 445 at the end of December.

    “The highlight of 9M FY22 performance was CATV business expansion in new states coupled with robust subscriber additions and subscription revenues for broadband business,” said GTPL Hathway managing director Anirudhsingh Jadeja. “On the broadband side, the company is expanding in Gujarat and is penetrating in other states through business partners. GTPL Hathway added 1,30,000 net broadband subscribers in 9M FY22. The company adheres to follow its strategic roadmap by offering a value proposition to its esteemed consumers and constantly enrich their experience.”

  • GTPL Hathway announces partnership with Aprecomm

    GTPL Hathway announces partnership with Aprecomm

    Mumbai: Cable TV distribution and broadband service provider GTPL Hathway Ltd on Monday announced the investment in innovative technology to remotely optimise its residential Wi-Fi connections through a partnership with Aprecomm.

    The technology will help GTPL bring down the customer issue resolution time and enhance customer experience on its network of 700K+ connected broadband households. Aprecomm’s AI engine allows GTPL to convert its household connections to AI-enabled smart Wi-Fi access points. Additionally, the technology offers proactive monitoring and measuring of the wireless experience of the connected devices and provides real-time insights to improve the reliability and performance of the network, said the statement.

    “GTPL believes in continuous investments in technology to keep innovating and enhance the consumers’ delight,” said GTPL Hathway managing director Anirudhsinh Jadeja. “The partnership with Aprecomm will aid us in our efforts to ensure the best experience for our broadband consumers with a faster and proactive resolution of potential issues.”

    “We are delighted to collaborate with GTPL and bring the latest technology into their network which can assist them with up to 50 per cent reduction in customer support handling time and phenomenal improvement to the customer experience,” said Aprecomm CEO Pramod Gummaraj. “We are looking forward to bringing more innovation in the Network Automation in the coming months.”

    The measurable improvements offered by the integration between GTPL and Aprecomm also lead to lower maintenance costs and improved customer satisfaction for the internet service provider.

    “With Aprecomm’s vendor-agnostic technology, GTPL is now able to manage and monitor ONUs through a unified interface, ensuring assured internet experience to their customers,” said Aprecomm CTO Guharajan Sivakumar.

    “We have already started deploying this technology and could measure the customer experience with ease and take proactive actions to improve it,” stated GTPL Hathway CTO Prasad V. “Aprecomm’s technology immensely helps us to achieve network automation.”

  • Nxtdigital clocks 15.48% revenue growth in H1

    Nxtdigital clocks 15.48% revenue growth in H1

    New Delhi: Integrated digital platforms company Nxtdigital, the media vertical of the Hinduja Group has reported a 15.48 per cent growth in its consolidated revenues for the half year ending 30 September. The revenue reached Rs 543.42 crore, up from Rs 470.58 crores for the corresponding period of the previous year.

    The company with a presence in digital cable, satellite (Hits), broadband and content syndication announced its results for the quarter and half year ending 30 September on Thursday.

    Nxtdigital continued to maintain a robust EBIDTA at Rs 102.89 crore for the half year, and ended the second quarter with a 17.38 per cent year-on-year revenue growth, closing at Rs 276.83 crore against Rs 235.76 crore in Q2 of the previous fiscal. It maintained a robust EBIDTA at Rs 51.63 crore.

    The company attributed its revenue growth to its strategy and aggressive growth plans, with a clear focus on positive cashflows across business verticals.

    The broadband business segment crossed 7.2 lakh subscribers. Nxtdigital also launched 40 future-ready Nxthubs across the country – each with digital capability of providing video, broadband and other emerging solutions including OTT and WiFi to distribute up to 650 digital TV channels received via satellite.

    Even whilst the pandemic continued to have a bearing on the media and entertainment industry, Nxtdigital’s business verticals continued to grow. Buoyed by the demand for internet connectivity across retail customers and enterprise businesses, the broadband business vide its subsidiary OneOTT Intertainment crossed 7.2 lakh subscribers, clocking a growth rate of 76 per cent in Q2 of the current fiscal over last year.

    “Our performance in the first half of this fiscal reflects the company’s focus on growth, gradually emerging out of the challenges of the pandemic that still have a bearing on the media and entertainment industry,” stated Nxtdigital CEO and MD Vynsley Fernandes. “Our strategy for the rest of this fiscal is premised on leveraging the strength of our solutions and our pan-India footprint of touch-points. With a network of Nxthubs offering a host of digital services – ranging from video and broadband, to OTT and WiFi; and layered by our growth in our broadband base and our infrastructure sharing platform – we believe we will not just see growth but also unlock value across our media businesses.”

    The company also informed that it continues to dispose off its non-core assets to reduce debt, and it has sold land held by it in Hyderabad for a total consideration of Rs 69.30 crore, originally acquired at an approximate cost of Rs 25 crore.

    The Rights Issue announced on 13 May by the company – of two equity shares for every five equity shares held in the company, at an issue price of Rs 300 per share is scheduled to open on 15 November and close on 29 November.

    For Q3 and Q4, Nxtdigital said it will continue on its aggressive growth strategy focusing on three key verticals, expanding its footprint through another 60 Nxthubs; continuing to grow its broadband base through a mix of combo products, organic and inorganic growth; and operationalising the infrastructure sharing model, which has now secured all necessary permissions to become India’s first digital content distribution PaaS platform.

  • Siti Networks posts Rs 509 million operating EBITDA in Q2 FY22

    Siti Networks posts Rs 509 million operating EBITDA in Q2 FY22

    Mumbai: Multi-system operator (MSO) Siti Networks has released its consolidated audited financial results for Q2 FY22 ended on 30 September. The company has maintained operating EBITDA at Rs 509 million and its operating EBITDA margin expanded to 13.9 per cent.

    The company announced the launch of Siti Mitra mobile app for its 25000+ local cable operator partners. The app has a fully functional ‘Own Your Customer’ subscriber management system, allowing partners to have control of their business on their palms. The app is available on the Google Play store.

    Total revenue (excluding activation) increased to Rs 3672 million from Rs 3615 million in the previous quarter. The company’s subscription revenue remained essentially flat at Rs 2350 million. Siti Broadband, too, observed a base jump of 20 per cent year on year and seven per cent quarter on quarter to 2.19 lakh. Siti Broadband’s revenue increased 4.1 per cent over the previous quarter and 11 per cent YoY to Rs 288 million.

    “Siti’s continued focus on operational efficiencies and strict control over expenses has ensured that our operating EBITDA is Rs.509 million with 13.9 per cent operating EBITDA margins. Our total revenue also increased to Rs.3,672 million. Our push for SITI Broadband has ensured that our customer base and revenues are up 20 per cent and 11 per cent y-o-y, respectively,” said Siti Networks chief executive officer Anil Malhotra.

    He added, “We have always had our ears to the ground, and the launch of the Siti Mitra mobile app for our 25,000+ partners is a testament to that. The app has our fully functional ‘Own Your Customers’ subscriber management system, and now our partners will be able to manage their business from their mobile phones. The app is available on the Google Play Store.”

  • GTPL Hathway ISP business grew by 50% YoY in Q2 FY22

    GTPL Hathway ISP business grew by 50% YoY in Q2 FY22

    Mumbai: Digital cable TV and broadband service provider GTPL Hathway’s internet service provider (ISP) business grew by 50 per cent YoY, according to its financial results for Q2 FY2022. The company reported consolidated revenues of Rs 605.2 crore up by four per cent YoY.

    The company’s paying subscribers stood at 7.35 million out of which 2,75,000 are FTTX subscribers at the end of H1 FY22. It added 1,00,000 net broadband subscribers in H1 FY22. The broadband average revenue per user (ARPU) for Q2 FY22 stood at Rs 440 which is up by two per cent YoY.

    “GTPL is in a sweet spot for converting its strong existing CATV subscriber base of 10+ million households into its broadband subscribers directly or through operators. Deployed the latest GPON technology for providing high-speed and high-volume Broadband services in Gujarat. GTPL plans penetrate to other regions by upgrading to FTTX Solutions,” the company said in a statement.

    The company reported H1 2021 revenue at Rs 1215.9 crore an increase of 12 per cent YoY. Its ISP business revenue stood at Rs 100.6 crore for the quarter ended 30 September. The EBIDTA for the quarter stood at Rs 144.8 crore up by four per cent and profit after tax at Rs 43.3 crore.

    “GTPL Hathway continues to deliver on key KPIs during H1 FY22. The highlight of H1 FY22 performance was robust subscriber additions and subscription revenues for the broadband business, coupled with strong balance sheet and return ratios,” said GTPL Hathway managing director Anirudhsinh Jadeja. “The balance sheet remains strong owing to ‘Net Debt Free’ status leading to impressive ROCE and ROE of 33 per cent and 20 per cent, respectively as of 30 September. With the economy getting back to normalcy led by aggressive vaccination drive, the company is geared to strengthen its presence in the existing and new markets.”

  • SITI Networks’ Q1FY22 Operating EBITDA jumps 33.1% to Rs 537 Mn

    SITI Networks’ Q1FY22 Operating EBITDA jumps 33.1% to Rs 537 Mn

    New Delhi: SITI Networks, an Essel Group company and multi-system operator (MSO), has released its consolidated audited financial results for Q1FY22 ending June 30.

    In line with its profitable growth strategy, SITI has maintained persistent elevation in operating EBITDA reporting 33.1 per cent growth over Q4FY21. The company reported operating EBITDA of Rs 537 million in Q1FY22 as against Rs 403 million q-o-q basis.

    The company’s operating EBITDA margin expanded to 14.8 per cent in FY22 against 10.4 per cent in the previous quarter. This was achieved through building up operating efficiencies and strict control over costs.

    Total revenue (excluding activation) stood at Rs 3,619 million in Q1FY22. The company earned a subscription revenue of Rs 2,378 million in Q1FY22.

    SITI Broadband’s net base increased 22 per cent y-o-y to Rs 2.06 lakh at the end of Q1FY22. SITI Broadband’s Q1FY22 revenue also surged 25.2 per cent y-o-y to Rs 276 million.

    SITI Networks CEO Anil Malhotra said, “SITI had a good quarter on the back of our focus on operational efficiencies, and strict control over expenses. Our operating EBITDA surged 33.1 per cent q-o-q to Rs 537 million and operating EBITDA margins expanded to 14.8 per cent in Q1FY22. SITI Broadband’s base increased 22 per cent y-o-y to Rs 2.06 lakh while its revenue surged 25.2 per cent y-o-y to Rs 276 million in Q1FY22.”

    “This quarter provided us with the necessary momentum to further drive our efficiency focus throughout FY22. We intend to focus on it along with solid EBITDA and margins growth, in line with our core strategy of profitable and sustainable growth,” he added.
     

  • NXTDigital revenue up 13.5% in Q1FY22

    NXTDigital revenue up 13.5% in Q1FY22

    Mumbai: NXTDigital Ltd, the media vertical of the global Hinduja Group and an integrated digital distribution platform delivering services through digital cable television, HITS (Headend-In-The-Sky) and broadband, continued to leverage innovation and strategy to combat the challenges of the second wave to post strong results for the quarter ending 30 June.

    On a consolidated basis, the company’s revenues grew by 13.5 per cent in the first quarter of the current financial year 2021-22 to Rs 266.6 crore against revenues of Rs 234.8 crore during the same period in the previous year. The broadband business continued to grow touching 6.7 lakh subscribers which amounts to 93 per cent growth over Q1 FY21.  

    Several contracts in the video and broadband segments of business which got delayed due to the second wave were signed by the company.

    “The Q1 performance exhibits the company’s agility and reflexes – being able to innovate and maintain its momentum through a quarter impacted by the second wave,” said NXTDigital Ltd, MD & CEO, Vynsley Fernandes. “With the situation easing up, we are confident that implementation of our PaaS platform and the roll-out of our 100 NXTHUB project will see traction. Whilst we look to commence our infra sharing model with Siti Networks and then extend it to other MSOs, our 100 NXTHUB launch later this month from Ranchi and then on to other geographies, will continue to keep us well on the growth track.”