WWIL posts 40% growth in operating revenues in Q1 FY 2013

The Board of Directors of Wire and Wireless (India) Limited (WWIL) in its meeting held today, has taken on record the unaudited consolidated financial results of the Company and its subsidiaries for the quarter ended June 30, 2012. The consolidated total revenues for the quarter were Rs 1135.0 million and operating profit (EBITDA) was Rs. 277.4 million.

Mr. Subhash Chandra, Chairman, stated, “Mandatory digitization will put in place a sustainable television ecosystem that thrives on a well defined, fair and transparent equation between its various stake holders. It will also provide an addressable growth platform for a long term period and empower the Indian television industry to match global standards. Wire and Wireless (India) Limited is geared up to lead the digitization campaign from the front”.

Commenting on the financial performance, Mr. Chandra said, “WWIL remains focused on increasing its operating revenues and cost control thereby improving its bottom line”.

Mr. Anil Malhotra, COO of WWIL commented, “We have extended the momentum gained during the last fiscal into the first quarter of FY13. Our consolidated revenue grew to Rs 1135.03 million, a growth of 41% over corresponding quarter of last year. We are confident that the significant positive momentum of the business will not only continue to drive WWIL’s growth for the remainder of the fiscal year, but also strengthen the Company for growth in the years to come.

Mr. Malhotra further added that “As part of our commitment for timely implementation of digitization, we have announced path breaking initiatives to share carriage revenue with cable operators in our Mumbai, Delhi & Kolkata market. It is a bold step which we have taken with a view to grow the business under full transparency, hitherto missing in the entire value chain of cable business”.

Source: http://cablequest.org/news/cable-news/item/338-wwil-posts-40-growth-in-operating-revenues-in-q1-fy-2013.html