wordpress blog stats
Connect with us

Hi, what are you looking for?

Ortel lost over 8% of its broadband users due to demonetization & competition

Multi system operator Ortel Communications reported broadband revenues of Rs 8.7 crore for the quarter ended December 2017 (Q3 FY17). This was up 5% from Rs 8.3 crore in the same quarter last year and down from Rs 10 crore in the preceding quarter. The company mentions that demonetization and increased competitive situation impacted its subscriber growth.

Total broadband subscribers stood at 72,503 at the end of the quarter, down 8.5% from 79,182 subscribers in the previous quarter. Broadband users accounted for 9% of Ortel’s subscribers. This number was 10% in the preceding quarter. Broadband ARPU, which had been steadily increasing over the quarters, declined to Rs 394 in Q3FY17, down from Rs 406 in the previous quarter, and from Rs 396 in the same quarter last year.

Data usage per customer increased to 5,415 MB from 4,562 MB in the preceding quarter.

Quarterly financials

Ortel reported a net loss of Rs 2.8 crore for the quarter compared to a profit of Rs 3.9 crore in the same quarter last year. On a sequential basis, net profit decreased from Rs 2.5 crore.

Advertisement. Scroll to continue reading.

– Total revenues increased by 3% to Rs 51.8 crore, with gross margins for Cable and Broadband segments at 74% each.

– EBITDA stood at Rs 11.8 crore down 36.9% from Rs 18.7 in the same quarter last year.

– EBITDA margin stood at 22.8%.

– In Q2, the company’s cable TV revenue grew 25% YoY to Rs 40 crore from Rs 32 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.

Advertisement. Scroll to continue reading.

– 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.

Download: Presentation and press release

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ