SITI’s Q2 FY21 Operating EBITDA surged 1.08 times over the previous quarter, to Rs. 792 Mn.
Today before the results were announced the price of SiTi Network fell sharply from Rs.0.50 to Rs.0.45.
Company’s has performed better Quarter on Quarter but has not performed as well in YoY performance. Read On to know more.
⭐SITI Networks Limited announces consolidated Ind-AS results for Q2FY21
New Delhi, 9th November 2020: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group.
💡Company, one of India’s largest Multi-System Operators (MSO), has released its Consolidated Audited
💡Financial Results for Q2 FY21, ending September 30, 2020, showcasing growth through strict control on
expenses and operational efficiencies.
💡SITI’s Q2 FY21 Operating EBITDA surged 1.08 times over the previous quarter, to Rs. 792 Mn. This jump
has been due to strict control over expenses and operating efficiencies. SITI’s Operating EBITDA Margin
for Q2 FY21 also expanded by 1.05 times q-o-q to 20.2% through control of various cost elements.
💡Total Revenue (excluding activation) also surged 2.3% over the previous quarter to Rs. 3,910 Mn. This
growth was despite the Subscription revenue remaining largely flat compared to the previous quarter at
Rs. 2,734 Mn.
💡SITI Broadband also expanded its footprint in Q2FY21 to Noida, Jaipur, Jodhpur, Saharanpur, Dehradun
and Bahadurgarh. SITI’s continuous efforts on improving operational efficiencies through improvement
of its systems, processes and personnel has been yielding results. This has resulted in a better and intimate
ground connect with its 24,000+ strong distribution network.
SITI NETWORKS LIMITED SITI Networks’ Q2FY21 Operating EBITDA surges 1.08X Q-o-Q to Rs.792 Mn.
Nov 8 11:30 PM-Siti Network Ltd a penny stock which is currently trading at Rs.0.50 and has a volume of 12 Cr shares is releasing its results tomorrow.While the company has slipped by 1.80 – 0.50 in the last one month.Lets see why there is a bulk deal in SITI Net Ltd in last one week and also know why its volumes are second highest in stock market.
Some Key Stats Of SITI NET
Market Cap– 43 Cr
52 Week High / Low– 2.75 / 0.50
OPM – 23-18%
Company hasn’t declared profit in the last 5 years and even the promoters have been reducing their holdings constantly,but F.I.Is and D.I.Is have been bullish on the company.
Siti Net will be declaring their results today and that is the possible reason why the company has been on the radar of some of the top financial institutions. (Which have been regularly making bulk deals)
While Siti Net is a company which is multi-system cable operator and as people have been staying longer at home following the lockdown there is a good chance that company could has seen a YoY increase in revenue in March and June during lockdown Quarter.And historically company has done well in its september quarter meaning company has a probability of making better profits than june and march quarter.
Disclaimer * Penny stocks are risky forms of investment do your own research before investing.