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Ortel added 5,127 broadband subscribers in Q1FY17

ortel

Multi System Operator Ortel Communications reported broadband revenues of Rs 9.5 crore for the quarter ended June 30 (Q1 FY17), up 6.25% sequentially and up 25.99% on a year-on-year basis. The broadband segment reported an operating profit of Rs 5.71 crore, an increase of 21.62% from Rs 4.7 crore in the same quarter last year. On a quarter-on-quarter basis, broadband operating profit increased 12.37% from Rs 5.08 crore.

Ortel added broadband  5,127  subscribers in Q1, nearly double the additions of 2,381 in the same quarter last year. Total broadband subscribers stood at 77,609 at the end of the quarter. Broadband users were 10.1% of Ortel’s subscribers. This number was 10.3% in the preceding quarter and 11.2% in the same quarter last year, although it did have a smaller total number of subscribers.

Broadband ARPU has been steadily increasing  over the quarters. In Q1 it stood at Rs 401 per month and was Rs 398 in the preceding quarter and Rs 393 in the same quarter last year.

Data usage per customer increased 79.6% to 5,329 MB from 2,967 MB in the same quarter last year.

Quarterly financials

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Ortel reported a 64.8% year-on-year (YoY) decline in its net profit to Rs 80 lakh for Q1 FY17 and a decline of 68.9% from Rs 2.8 crore in the preceding quarter. The company’s profitability was impacted due to lower execution in the  infrastructure leasing business, Bibhu Prasad Rath, president and CEO said.

– Total Income increased by 22.9% to Rs 52.93 crore from Rs 43.1 crore in Q1 FY2016
– EBITDA stood at Rs 13.9 crore compared to Rs 15.9 crore in Q1 FY2016.
– EBITDA margin stood at 26.3%.
– In Q1, the company’s cable TV revenue grew 44.91% YoY to Rs 41.20 crore from Rs 28.43 crore.
– The income from operations in the current quarter increased 29.24% YoY to Rs 52.42 crore as compared to Rs 40.59 crore in the corresponding quarter of the previous year.

Past developments

– In January, Ortel introduced free public WiFi hotspots for its customers in Bhubaneswar, as a value added service.

– In October last year, ErosNow tied up with Ortel to offer a subscription based movie streaming service called Ortel Broadband Movies.

– In March 2015, Ortel’s Initial Public Offering (IPO), failed to gain full subscription. Of the 12 million shares issued, about 9.68 million, or around 81%, was subscribed to. Ortel had previously mentioned that it was looking to raise Rs 217.2 – 240 crore through the public issue offering.

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Download: Press release, financials and presentation

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