Siti Cable reaches to 4 mn subscribers

SITI Cable Network Ltd., the leading Cable Television service provider in India, has achieved the landmark of 4 million digital customers as on 31st March 2014.

Encouraged by the significant improvement in the performance in FY13-14 & to support the aggressive growth plan to grow subscriber base to 10 million in FY 14-15, the promoters have invested additional Rs.2430 million in the Business.

As per the approval received from Foreign Investment Promotion Board (FIPB) in March 2013 to raise Rs. 3240 million from promoter entities, the company has already received first tranche Rs. 810 million in March 2013 and this is balance tranche fund of Rs. 2430 million. With this total promoter shareholding rises to 72.82 percent.

Mr. Subhash Chandra, Chairman, stated, “ The Indian television distribution industry is on the cusp of high growth value phase as it marches towards the digitization of balance phases of cable television in the country. With the change in leadership last year, SITI Cable has driven higher revenue and profitability through relentless focus on operational excellence despite uncertain environment. Our sustained investment in this sector will further accelerate the growth momentum and will serve the Digital Cable TV viewing needs of many more million Indians on SITI Cable Network”.

Source: http://cablequest.org/news/cable-news/item/4531-siti-cable-reaches-to-4-mn-subscribers.html
Source: http://cablequest.org/news/cable-news/item/4531-siti-cable-reaches-to-4-mn-subscribers.html