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Tag: NXTHUB

  • NxtDigital reports revenue of Rs 548.9 crore in H1 FY23

    NxtDigital reports revenue of Rs 548.9 crore in H1 FY23

    Mumbai: Hinduja Group’s NxtDigital has reported consolidated half-yearly financial results for the fiscal ended 30 September 2022.

    In comparison to the previous fiscal’s equivalent half-year revenue of Rs 543.2 crore, revenue of Rs 548.9 crore has been generated.

    Profits before interest, depreciation, and taxes (Ebitda) increased to Rs 109.3 crore from Rs 102.9 crore in the same period of the previous year.

    For the quarter ended 30 September, the company has improved its Ebitda performance to Rs 55.26 crore as against Rs 51.64 crore recorded the previous year and Rs 54.09 crore for the immediately preceding quarter of the current year.

    Due to the company’s continued focus on new growth drivers, all of its media and communications platforms, including its digital television and broadband verticals, experienced stability in the second quarter.

    Last month, it introduced its 100th honourable NXTHUB, giving users seamless access to broadband, digital television, and OTT content.

    Based on a legally binding MoU with Thaicom, one of the top satellite operators in the world, and following extensive and fruitful testing, NxtDigital is soon to introduce broadband-over-satellite services. In addition to public WiFi and drones to improve rural digital solutions and space-based data technologies for agriculture and resource management, this will be the first step of providing satellite AI solutions.

    The organisation has also concentrated on creating digital solutions based on market dynamics throughout this quarter. It will soon introduce ONEDigital, a one-of-a-kind and cutting-edge all-in-one service that provides consumers with access to the internet, digital television, OTT, public and building WIFI, CCTV systems, and voice over IP/intercom. The company has also created the digital content aggregator app NXTPLAY, which is ready for release and offers over 3,00,000 hours of content from top international and regional OTT networks.

    It has started its ambitious project, NXT Sangram, with the goal of training over 10,000 of its last mile owners or franchisees to make the paradigm shift and become digital services partners, capable of meeting all the digital needs of their communities, in line with these initiatives and building out a digital ecosystem on a national scale.

    NxtDigital MD & CEO Vynsley Fernandes said, “We have remained committed this fiscal to developing solutions to drive growth, based on the dynamic environment and changing consumer preferences. Those focused efforts and technological innovations will now take centre stage as we look to shortly roll out our broadband-over-satellite services, our digital content aggregator app NXTPLAY and ONEDigital, an integrated all-in-one solution that defines true digital convergence. Our ecosystem too has been upgraded in line with delivering solutions for digital communities.”

    The draft scheme of arrangement between NxtDigital, Hinduja Global Solutions, and their respective shareholders has been approved, among other things, by the board of directors of the company. Minority shareholders strongly approved the scheme, with 99.99 per cent of them voting in favour of it at the extraordinary general meeting of shareholders held on 2 September  to approve the scheme of arrangement between the company and Hinduja Global Solutions. On 13 October, the NCLT will have its last hearing.

    In the second corporate action, the company’s board of directors approved the proposed scheme of arrangement between NxtDigital and Hinduja Leyland Finance (HLFL) and their respective shareholders, subject to regulatory and shareholder approvals, for the merger of HLFL with the company. The share exchange ratio for the proposed transfer was also approved by the board. The company is working to get all the required legal, regulatory, and other clearances for the deal.

  • Nxtdigital records revenue growth of 5% Y-o-Y to Rs 279.1 crore for Q1 FY23

    Nxtdigital records revenue growth of 5% Y-o-Y to Rs 279.1 crore for Q1 FY23

    Mumbai: On a consolidated basis, Nxtdigital has registered a revenue growth of 5 per cent year-on-year to Rs 279.1 crore for the quarter ended 30 June, as against Rs 266.6 crore for the corresponding quarter of the previous year, according to the company’s statement. 

    The company announced its results for the first quarter of the current financial year FY23 during its board meeting. It achieved earnings before interest, depreciation & taxes (EBIDTA) of Rs 54.1 crore, a growth of 6 per cent year-on-year for Q1 of the financial year 2022-23 as against Rs 51.2 crore for the corresponding quarter of the previous year and Rs 56.5 crore (excluding profit on the sale of land) for the previous quarter.

    The wired subscriber base, including video and broadband, has grown by 10 percent year-on-year; closing the quarter at 5.3 million homes connected, against 4.8 million last year.

    Nxtdigital managing director & CEO Vynsley Fernandes said “Our strategy for this fiscal is to continue to leverage our expanding digital product portfolio, vast national footprint, and emerging technologies to drive growth. Our approach is to garner a greater share of the customer wallet across multiple services rather than focusing on average revenue per user (ARPU) growth of individual product verticals.”

    He further added, “On the other hand, we are putting our might behind our emerging technologies offerings like broadband-over-satellite as we look to expand our digital services even beyond India.”

    The growth factors 

    The company has made significant progress on broadband-over-satellite; post a binding MOU with Thaicom Public Company Ltd. which provides broadband-over-satellite and related services in India.

    Nxtdigital’s focus on rapidly building out digital products and solutions to cater to changing consumer preferences and market dynamics, while continuing to strengthen its customer footprint across the country, was the most important factor in its growth.

    The company covers over 4,500 pin codes in over 1,500 cities and towns, offering a variety of digital products such as digital television, broadband, and OTT. 

    Its unique integrated product of digital television, broadband, and over-the-top (OTT) drives customer retention, while the aggregator-based “Strategic Alliance Partner” model continues to attract more ISPs to its broadband vertical.

  • National Feather Award: NxtDigital’s NxtHub bags ‘Best Innovative Project of the Year’

    National Feather Award: NxtDigital’s NxtHub bags ‘Best Innovative Project of the Year’

    Mumbai: The prestigious National Feather Award for the ‘Best Innovative Project of the Year’ was awarded to NxtDigital Ltd (NDL) for its innovative and future-ready digital NxtHub project at a function here. The NxtHub is a one-stop digital solution – delivering digital TV, broadband, OTT and Wi-Fi.

    The NxtHub concept was designed and rolled out by NxtDigital Ltd, the media vertical of the global Hinduja Group and India’s premier integrated digital platforms company, with a presence in digital cable, satellite (Hits), broadband, Wi-Fi, content and OTT distribution and teleshopping. NDL has a presence in more than 4,500 pin codes, covering over 1,500 cities and towns.

    The NxtHubs are owned and operated by NDL and equipped with the latest technology comprising an ADDS or Advanced Digital Distribution System – with the capability to deliver over 650 Digital TV services received via satellite to Last Mile Owners (LMOs) and their end subscribers. NxtHub’s avant-garde technology, with the plug-and-play model eliminates the need for LMOs to invest in headend and related technology, whilst being able to give their customers, the width and depth of digital services. Expanding the current offering that includes digital video, broadband, OTT and Wi-Fi; these NxtHubs are future-ready to offer a slew of additional digital services to a wider geography.

    NDL has set up over 90 NxtHubs and is in the process of rolling out more, strengthening its footprint across the country to ensure affordable digital services to all, in line with the government’s vision of a ‘Digital India.’

    “NDL has always been at the forefront of innovation, using technology to boost digitisation of our networks and endeavoring to deliver the best to our customers,” stated NDL COO NK Rouse. “Our focus continues to be on strengthening the overall ecosystem by harnessing the convergence of technologies, delivered through a national network of NxtHubs.”

    The NxtHub project is spearheaded by Manoj Agarwal, who is the commercial director at NDL. “This prestigious award reflects our vision and mission of a complete digital transformation. Digital TV, OTT, Wi-Fi and broadband are the start of expanding our digital highway of services that have been developed by NxtDigital,” stated Agarwal.

  • Nxtdigital launches ‘live’ TV stick and Android STB

    Nxtdigital launches ‘live’ TV stick and Android STB

    Mumbai: Nxtdigital has launched Android set-top-box Nxtconnect and ‘live’ TV stick Nxtgo that can give subscribers access to 700 TV channels and 300,000 hours of OTT content with broadband speeds up to 1000 Mbps.

    The company has also launched a combo package for its subscribers in India starting at Rs 409 per month to access content from platforms such as Amazon Prime, Sonyliv, Disney+ Hotstar, Zee5, Voot, Sun Nxt, ShemarooMe, Epic-On, Hungama Music, Hungama Play, Eros Now, aha and hoichoi. OTT services can be accessed on existing devices like mobile phones, tablets, laptops, desktops or smart TVs.

    The Android STB has 8Gb of storage and allows subscribers to upgrade their standard TV sets into smart TVs getting access to a host of Android applications beyond OTT ranging from karaoke to games. For existing smart TV users, Nxtgo can give subscribers access to up to 700 TV channels. Both devices are available at a bundled introductory offer of Rs 1499 which includes a one-month subscription to an OTT package.

    The launch of the combo package, the advanced Android STB and the ‘live’ TV stick reflects our inherent agility in adapting to changing consumer patterns of content consumption and our focus on emerging technologies,” said Nxtdigital managing director and CEO Vynsley Fernandes. “The combo package gives our subscribers a single window to access the best of television, OTT and hi-speed broadband, seamlessly and on-demand.”

    The combo product will also form part of the solutions being offered by its owned-and-operated Nxthubs across the country, launched late last year, providing television and broadband on a plug-and-play model.

  • 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.”