MUMBAI: Wire and Wireless (India) Limited (WWIL) has narrowed its fiscal third-quarter consolidated net loss to Rs 103.9 million, from Rs 344.5 million in the year-ago period, as the multi-system operator gains from strategic expansions in some markets.
WWIL turned around at the operating profit level. The Ebitda for the three-month period ended December was at Rs 43.7 million compared to a loss of Rs 43.7 million a year ago.
Operating revenue rose 3.1 per cent to Rs 744.4 million as against Rs 722.2 million in the earlier year.
Says WWIL chairman Subhash Chandra, “WWIL continues to focus on its analogue business and is looking at every viable digitisation and growth opportunity. WWIL has effectively managed analogue and digital expansions by putting up digital head ends in new geographies. As the market gets ready for the next wave of growth, we are committed to expanding our cable TV networks wider and deeper across the country. The initiatives taken by the company of implementing new systems and processes have started yielding results with continued positive EBIDTA during this quarter as well.”
Expenses were under control, falling to Rs 710.2 million from Rs 793.6 million in the earlier year. Cost of goods and services stood at Rs 518.3 million, representing 73 per cent of the total operating expenses, in comparison to Rs 596.1 million in the corresponding quarter of the last fiscal, a 75.1 per cent share of the total operating cost.
The company said that while the decrease in cost of goods and services was mainly due to the cut-off of transponder lease rentals, the decrease in administrative expenses is reflective of the managements’ efforts to drive efficiencies across the departments.
Says WWIL CEO Sudhir Agarwal, “Continuing the progress made in the three quarters of this fiscal, WWIL has consolidated its operation in existing geographies and continues to expand in newer market. It has also strengthened its UGF network quarter on quarter. WWIL is providing more than 100 channels to consumer at very competitive price with the prime focus on region specific content and popular local channels.”
WWIL has consolidated its presence in Eastern UP by launching its operations in key towns of Eastern UP and re- launched its SITI Digital Cable Television services in Hyderabad.
“The dunning process implemented in CAS areas will bring transparency as the subscribers are informed about their overdue invoices of monthly subscriptions. We firmly believe that the company is well-placed in terms of its reach and capabilities and this adopted strategy shall reap benefits for all its consumers and stakeholders,” Agarwal adds.
