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Ortel’s broadband segment reports Rs 9.96 crore for Q2 FY17



Multi system operator Ortel Communications reported broadband revenues of Rs 9.96 crore for the quarter ended September, 2016 (Q2 FY17). This was up 22.4% from Rs 8.14 crore in the same quarter last  year and up 4.85% from Rs 9.5 crore in the preceding quarter. The broadband segment reported an operating profit of Rs 5.22 crore down 3% from the same quarter last year. On a sequential basis, operating profit declined 8.72% from Rs 5.72 crore.

Total broadband subscribers stood at 79,182 at the end of the quarter. Broadband users were 10% of Ortel’s subscribers. This number was 10.1% in the preceding quarter. Broadband ARPU has been steadily increasing  over the quarters. In Q2 it stood at Rs 406 per month and was Rs 401 in the preceding quarter and Rs 395 in the same quarter last year.

Data usage per customer decreased to 4,526 MB from 5329 MB in the preceding quarter.

Quarterly financials

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Ortel reported a net profit of Rs 2.5 crore for the quarter down 10.71% from Rs 2.8 crore in the same quarter last year. On a sequential basis, net profit increased from Rs 90 lakh. Net profit was aided by a 5% reduction in total expenses and Ortel turned EBITDA positive in emerging markets such as Andhra Pradesh,  Chhattisgarh, West Bengal, Telengana & Madhya Pradesh.

– Total Income increased by 17.34% to Rs 53.73 crore from Rs 45.79 crore in Q2 FY2016
– EBITDA stood at Rs 17.1 crore compared to Rs 17.3 crore in Q1 FY2016.
– EBITDA margin stood at 31.5%.
– In Q1, the company’s cable TV revenue grew 44.91% YoY to Rs 42.02 crore from Rs 30.93 crore.

Other developments 

– In September, Ortel , which had started public WiFi hotspots in January, said that it has  30,000 people accessing internet from these. 

– 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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