Thread Rating:
  • 24 Vote(s) - 1.92 Average
  • 1
  • 2
  • 3
  • 4
  • 5
WWIL Q1 net loss up as revenue drops 12%
MUMBAI: A hit in revenues and investment towards Headend-In-The-Sky (HITS) has pulled down the first-quarter profitability of Wire and Wireless (India) Limited.

The Subhash Chandra-promoted cable TV distribution company has posted a consolidated net loss of Rs 477.69 million for the quarter ended 30 June, as against Rs 183.15 million a year ago.

Operating revenue for the quarter fell by 12 per cent to Rs 630.06 million (from Rs 716.26 million). "The company made several corrections in this period," says a source.

WWIL is betting big on HITS for future turn around of the business. Though the company has commercially launched the services from 1 April, the bulk of pay-TV broadcasters have stayed away from making commercial agreements with it.

Says WWIL chairman Chandra, "We believe that our ability to handle large cable network, digital cable services, successful launch of HITS and other value-added services would provide a compelling value proposition for our viewers."

WWIL's analogue cable business is cash positive and it is keen to build up other value-added services for future revenues. Says WWIL CEO Sudhir Agarwal, "We believe that non cable and satellite homes will bring in an important chunk for future growth. In addition to HITS, we would also offer digital cable and analogue cable services, ISP and other value-added services in the country."

Expenses in the quarter stood at Rs 918.48 million, up 15.82 per cent, as compared to Rs 793.04 million a year ago.

On standalone basis, WWIL's net loss for the quarter stood at Rs 464.72 million (as against Rs 197.40 million). Revenue fell to Rs 471.78 million (from Rs 551.30 million), while expenses rose to Rs 753.58 million as compared to Rs 641.14 million in the earlier year.

WWIL promoters pledged 36.35 million shares, or 16.7 per cent stake, according to information provided by the company till 30 June 2009.

Cash-strappped, WWIL is planning to raise Rs 4.5 billion via rights issue to fund its expansion plans. The company has already raised Rs 1.92 billion of debt through issue of secured redeemable non-convertible debentures.

Thanks given by:

Possibly Related Threads...
Thread Author Replies Views Last Post
  General News: Mann Ki Baat earned revenue of around Rs 48 million in 2016-17 nairrk 0 595 07-20-2017, 07:48 AM
Last Post: nairrk
  General News: FY-16: Radio Mirchi revenue up 16 percent, crosses Rs 500 crore charger 0 646 05-20-2016, 04:44 PM
Last Post: charger
  WWIL to share carriage fee revenue with cable operators waytobala 0 1,196 06-06-2012, 04:23 PM
Last Post: waytobala
  Help: Govt eyes Rs.1,500 cr revenue from FM radio auction Sathish 0 1,613 03-21-2012, 11:07 AM
Last Post: Sathish
  Fever FM rides on high Q1 revenue IndianDTH 0 1,307 03-07-2012, 04:00 PM
Last Post: IndianDTH
  Help: WWIL expands cable network to Eastern UP Sathish 0 2,624 12-28-2010, 10:37 AM
Last Post: Sathish
  WWIL eyes Rs 3.4 bn revenue in FY'11 Mr.Bhat 0 1,040 08-31-2010, 11:45 PM
Last Post: Mr.Bhat
  Music royalty: Radio firms to share 2% ad revenue Sathish 0 1,613 08-26-2010, 10:41 AM
Last Post: Sathish
  Den Q1 net up 208% at Rs 100 mn as revenue jumps 16% Mr.Bhat 0 898 08-11-2010, 07:54 PM
Last Post: Mr.Bhat
  Big FM Q1 operating loss at Rs 72 mn, revenue up 7.4% Mr.Bhat 0 788 08-10-2010, 08:05 AM
Last Post: Mr.Bhat

Forum Jump:

Users browsing this thread: 1 Guest(s)