SITI Networks Limited

UG Floor, FC·19 & 20, Sector-16 A. Film City,

Noida, Uttar Pradesh-201301, India

Tel: +91-120·4526700

Website: www.sitinelworks.com

November 6, 2019

To,

The General Manager The Manager Listing Department

HITWORII$

Corporate Relationship Department BSE Limited Phiroze Jeejeeboy Towers Dalal Street, Fort, Mumbai- 400 001

National Stock Exchange of India limited Plaza, 5th Floor, Plot no. C/1, G Block Bandra Kurla Complex, Bandra (E) Mumbai- 400 051

BSE Scrip Code: 532795 NSE Scrip Symbol: SITINET

Kind Attn. : Corporate Relationship Department

Subject: Proceedings of the Board Meeting held on November 6, 2019

Dear Sir,

Pursuant to Regulation 30 and other applicable Regulations of the Securities and Exchange Board of India (Listing obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held today i.e. on November 6, 2019, has inter-alia, considered and approved the Un-Audited Financial Results of the Company, both on a Standalone and Consolidated basis, prepared under lnd-AS, for the second quarter of FY 2019-20 and half year ended on September 30, 2019, duly reviewed by M/s Walker Chandiok & Co LLP., Chartered Accountants, the Statutory Auditors of the Company, pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements} Regulations, 2015, together with Limited Review report thereon.

We are enclosing herewith Un-Audited Financial Results along with Earning Release and Limited Review Certificate(s) on both standalone and consolidated Financial Statements issued by the Statutory Auditor of the Company.

You are requested to kindly take the above on record.

Thanking you,

Suresh Kumar Company Secret M.No. ACS 14390

Regd. Off. : Unit No. 38, 1st Floor, A Wing, Madhu Industrial Estate. PB. Marg. Worli, Munibai - 400 013

Tel.: +91-22-43605555 CIN No.: L64200MH20061�LC160733

SITI NETWORKS LIMITED

Rclld. Office: Unit No. 38, Isl Floor, A Wing, Madhu lndustriql Estnlc, P. B. Murg, Worli, Mumbai-4000 I 3

Coniulidoted mad Standalone Slatement of Assets and Llabilltlca

Particul,rs

A. AMels I, Non-current RMcls

(a) 1•,op�uy, plom and equipment (b) Cophal wo,k-lr1-progrtss (c) invc;bncnt property (d) Goodwill (e) Other intmtgible «�scls (I) lmangiblc assets under development (S) lnvosaucnts in joini ventures and associate.& (h) FlliJIJ!cii!.I 3S9ots

(I) lnvtsanonts (Ii) 01heu

(i) Deferred tax assets (Net) (I) 0�1cr non-currenl assets

SulHolnl of Non,ourrent assets 2. Current ilJSl!l.s

(n) Inventories (b) l'imm�iol nmls

(i) lnvestmenls (ii) Trode receivables (lli) Ctuh nnd e11sh equivalents (iv) Bartk balartct?s other thnn (iii) above (v) Other;

(c) Currcnl tax mets (Net) (d) OU1er eurrcnl nsscts

Sub-totol of Current a5.!cta Total aneu D. Equity and llnbilltie;

Equity (u) Eq11ity sh«re onpit•I (b) Oilier equity (c) Non�ontrollin11 intcrc1t;

Sub•total • E-quity Llabllltle,

I, Ni:m•i;;urrcnt liiabiliti�J

(u) fimmoial lfobilitic! (i) Bonowings (ii) Olhcr linanci•l li•billtios

(b) Provisions (c) Deferred tax linbility (Net) (d) Olhcr non.cuncnt HabiH1i0s

Sub-total - Non-currcnl ll1bllltics 2. Curren! llabllllia

(a) l'inancial liobilitics (i) Borrowings (ll) Trade payabl�s

Total ou111artdlng dues ofrnicro cmcrpris�s and smRII cnlerprises Tolal ou$l«�ding duci orc,edltol's other tl1ai1 micro enterprises and smnll �nlcrpri�C$

(iii) Otber finoneiel linbililies (b) Otl,or cumml liabilities (Net) (o) Provisions

Sub-lotRI of currQnl llnbilltlell Total l!ilU(tY 111d llablllllM

rlnc, ; Noidn

Date! Novrmber061 20t9

{tin ldU)

CQnsolldated Standalone

September JO. 2019 Marc� JJ, 2019 September JO, 2019 March 31, 1019

Unaudited A .. �io-<

129,9"3.7 140,792.1 8,143.11 9,480.1 6,531.9 6,585.3

4.644.S 4,855.2 ll.409.7 23,979,4

431.7 464.? 1,jS6.3 1,485.9

.

3,471.8 4,598.5 149.7 130,7 376.0 343.1

177,658.7 192,715.0

178.4 180.2

3,77S.O 30,538.7 38,999. I 9,4119.9 7,156.7

262.1 6S4.0 19,234.0 18,053.•I

963,Z 713.4 23,637.0 2Z,968,0 88 038.3 88.724.8

26S 697.0 281.439.8

8,726.7 8,716.7 2,327,9 11,075,0

10,778.� 10,470.6 21,SJJ.I 30,m.J

SS,177.5 74,2J8,5 10,51H 10,093.6

847.6 923.7 S41.S 2,040.3 479.9 <130.7

67,66S.7 87,7%6.8

14,208.6 16,230.8

. .

77,986.1 65,808.8

69,795.7 67,m.4

14,02S.7 13.997.1 182.1 130.6

176,198.2 16:M�0.7 26S 697.0 281 439.8

SIGNED FuRIDENTIFICATIONPURPOSE ONL y

tlnauditcd Audited

64,703.J 70,910.9 3,588.4 3,969,1

-

- -

13,645.7 14,130.2 431,7 �6'1.7 -

35,217.8 35,207.3 2,829.2 3,961.7

1,900,9 2, 142.S 122,317,0 130,786.4

72.1 71.J

19,6SJ,J 28,432.S 891.8 1,141.7

400,0 13,97-1.1 17,317,Z

- -11,765.7 11,757.1 46.)57.0 59 119.8

168.674.0 189,906.2_

8,126.7 8,726.7 (15,900.9) (6,SOS.2)

. .

("7,17U) i,lll.5

36,111.0 53, IS3.2 390.3 J 13.1 427.7 516.8 - .

- -

36,929.0 53,983.1

14,042.4 15,348.2

- -

53,602.6 4S,312.5

64,729,2 63,975.8 6,511.6 M27,2

33.4 37.9

138,919.1 133,101.6 168 67.10 189 906.2

-C�.I

\ii;Ill, ... ....

... j. I -1

V\

i ;; .;

.,. -� --o, "' -

�

SITI NETWORKS LIMITED

S TlRegd Office Unit No 38, Isl Floor, A Wing, Madltu lnduslt'lol �,Lalo , P n Mars, Wor!i, MYmbai-400013

Consolid11tcd Cash flow Statement

A. CASH FLOWS FROM OPERATING ACTIVITIES um bofor� tzu Adjustment fun

Depreo1a110n iJ.nd amprti;..1tmn exp,;nsi;s lntcre;t income on b3nk deposits Excess provisions written back Shore of loss or (lj!OCinto9 a,,d joint venture, lntarcst cxpttisa for bon'owlng� at amortised co!it Bdd dobis wrlllon off (Jnreoll,ed foreign o,chpngc lonl(gGin) Provision for doubtfi!l debts Provision for doubtful advances Measurement or inv�sUitOJ\t (Clln'lln� financial �s,ct,J at foir v.tlue through profit �nd loss Efrtm of �cognlslng 0�1er o,cpcnso on security del)Qsit g; per eff�tive interest meU1od Meu5urcmcnt or lin3ncial IU;eti and fimm�i�l linbilitic, at omortiscd cost Exceptignal item,;

Operalln1 profi! before working eapllal chang(IS AdJustmonts ror changos In: Dccrcoscl(in,-rMsc) ill ttado r,c,iivabl�s Decreasc/{irterM!ll) In other linancc current ,nd non,cµrren! �ifCti (Jnc:rCi!Sc)/dccre,Hc in olhcr current �d l'lQn•QUITCnt asset� DecrCille In inventc,riei Jncn:it,ie in other finAncial liabilities (Decreose)/Jnerease in employee benefit oblii:otlorts Dccreosc in other curront and non-cun'tnt l,obili11cs lncrMso ln LJ'Bdo payables

Cuh gcncnalcd rrom openilions Income taxes p.ald

Not onh now5 rronJ OPCFij!ln� QC(lvlUes

8. CASH FLOWS FROM INVESTING AC-l'IVITIES J•urehaso ofptopotty, plttnt anJ equipment , ,nd intangibles ono!s Putchuo oflnvostmcnts (current and nQn•<w-renl, finonciPI assets) S.ilc of investment (currenl nnd non•c;urr(nt, rmanciol a&sccs) lnlcr�t received Mnrsin money deposits ond bank dcpo8its matured (not )

Ne! cA1h now used In lnveatlng iclivhiea

C. CASII FLOWS FROM FINANCING ACTIVITIE.S Proceed, from borrowing, (ouJTent, finoncial liPbilities) (net) Proceed:; from borrowings (non-current, flnenciol llobiii1ios) Repayment of borrowings (non-<:um:nt, financial li�blli�l!s) Interest paid

Net c�sh now used i,; rln3dting acti,•itic;

Net incrcu.sc in (;D.Jh ond 1:.a,1h equivalents

c�sh nnd cash equivalents at the besmning oru10 pt!l'iod

Cnsh ond cosh cqu1valct11; at �10 onJ or u,., period

Not�: a Cash and cash equivolonts includo:

Cashon l111t1d Balanca.s whh b.inks on cu.m:nt ilccoµnt� Cheque; ,nd dro� on h•nd Depo�its with maturity of upto three monui,

b. Amendment to Ind AS 7:

S1:1 monih, �nd� Sept•JDbcr �o, 2019

(Unndltcd)

(9.l7J.7)

17,0442 (212.2) (38 0) (70.S)

8,221 S R64 Ct

36.0 981.8

1<1.9 (IIJ.O)

40 (V)

1.962.6 19.359.S

4,6S I.S

(1,228.4) (544,1)

I 8 736.8 (36.J) 77.7

12,179.9 J�.198,4 (1.100.91 3'!.097.S

(J,990,9) (3,662.0)

372.7 I •166.0

(5t814.l)

(2,022, I)

(17,371.2) (6,596.8)

(l5,ll90.I)

2.m.2

7,156.7

9 4�9.9

September J01 2019

2,057,3 2;277,2

46.3 5 069.1

The uon-<:ash chonees in liabilities arising fron, financing oclivitics pcr1.1ira 10 impgot of f�ir vglue chan.11es ond foreian cxchar1ge fluctuotiOll! which llNI consldoreJ to be lnSlgni(,cunL

c. The gbovc cosb flow ;totcment has been prepared undor �10 'lnditect M@tl1od''"' sci out In lndi�n Accounting StAndnrd 7 (Ind AS-7) on "Srntemcnt ol"Cesh Plows'.

d. Figutes in brnokou indlc3lo Cosh Outflow o. l'urcliaJo of property, piont o.nd equipment and intangible assets includes movements ofcopil31 work,/n,pro!!'•"· intongibl• n;;•IJ µnder

develQpment, capitol �d•••n�•s and payables for propcny, plant and equlprnont dwfog the period

SIGNED FOR IDENTIFICATIONnuRPOSE ONLY

s,� monihs ended September JO, 20Ui

(Unaudited)

(1 0,270..:J)

18,128.1 (2W9) (303 9)

RI 6.559 I

47.6 (482.6)

3,159.7

3.6 (2.l)

250.1

16t878.0

(S,426,0) O,ll5.I) I.SI 1.6 1,082.7

(17,318.2) 125.2

(3,796.4) 9.913 2

(3,165.0) (36.l)

(J.lOl,I)

ll;i,S02.8 (40.l) 11.0 (�.9)

J 958.0 20,426,8

2,148.9 •l,849.0

(17,313.4) (6,766,0)

(17.081.S)

14-1.2

9,353.1

9,497.J

Scptembcr30. l018 779.7

5,064.8 2,724.8

928.0 9�97..3

SITJ NETWORKS UMITED Regd Office: Umr No )8, Isl Floor, A Wing, Mudhu Jndu;tn�I E!lote, l>. ll Milli,;. Wod1, illh.u11baHOOOJJ

Standalone Cash Flow Statement

A. CASII FLOW FROM OrERATING ACTIVITIES l.on before tu

AdJustmont for: Dcprcciotion and amonisotion cx))(:nses lntofMl inco1110 on bank Jcpostts Excos; ptovtsions wtm�n back Interest expense l'or borrowini:;:s al Dmorll!h?d CO!l Bgd debt; written off

Unrealised foreign c.•ch!Lngc lossi(g@m)

Provision for doubtful debts Effoct of recognising od1or oxpcnsc on security dep<1s1ts as per effeclivc interest method Measurement or11nanc1til a1sots and nnaneial liabililios at amoniscd cosr Me"-'!urement of opllOnally convortiblo debentures at fair valull thtoutih prone and lo!>

P,xcepti.orn,J item� Opcrnllng proOI before worklnll capital chong�

AdJ111tmonts ror cbongllll In: Dtcrt8!lo In trado rccoivablcs Decrea,e/( mcroa!t) In Otltor finlllloial asMJl Decre.ise m alh'°r current :ind non�curtt!:lil as;e.t! (lncrcaJcYdl!cre-1;e in inventgrie.;

Dccreosc in other finonciol liobilitics (Dccrcnsc)/inmose in employee benefit obligatioM (Dcoran,o)/htcrcasc iu other current ond non-curreni liobilitics lnorc3Sc in tr.Ida payables

Cush 1cncratcd from operations

lni;:onu;� tgxe� Pllh:l

Net cash now gcnQracrd from orcr1ttln11 ••tivltlc1

D. CASH FLOW f'ROJ\-1 l'NVESTING ACTIVITIES

Purchosc of propeny, plant ond equipment, on<I intans•blc assets Interest rtcclvcd (net) Margin mOllo)' deposits and barik dopo9it, maturctl (nol)

Net t111h now u.scd in invcstinii activilfoJ

C. CASII FLOW FROM t,INANCING ACTIVITIES

Proceeds (rom borrowing; {Cun'llrtt, tirtanelal liabilities) (llN) Pr(X;ceds frQm borrowings (non�current.. fin1mtlial liabilh1ts) RcpRymcnt ofborrowinss (non•curront, finnno,al lillbilirios) Interest nnd ancillmy borrowing cost� paid

Net cash now used In nnnnclng acllvllics

Nol deerea1e/(lncreasc) In cash and cash cqulval�nls

Cash and cash oqu1valcms ot tlio bciihnin11 of the period

Cp�h iJ11d. i;�h eq1,1iv.ilcnt.s .it the end of tho period

NotcsI a. Cash and cash equivalents lncluM

Cash on hand Bnltmcc; with b4mk; on <l1.1rrent .accounts

Cheques and drnlls on hand

b. Amendn!ont to Ind AS 1.

Sli month, rndM September JO, 'JOl.9

(Unaudited)

(8,980A)

9,457.4 ( 114 0)

62

6,922.4 8)9.6 n.9

550.0 4 0

(2,7) 10.6

8,719.0

7.)89,6 3,273 ff

I 38 6 (0.8)

(975.1) (9).6)

(2,515.6) 8.247,9

14.193.8 (608.4)

lJ,585.�

(J,623.)) 220,6

1.474.0 (1,928.7)

(1,305.8)

(15,16H) (5,437.4)

(21,906.6)

(2499)

1,141.7

891.S

September JO, 1019 S4.4 40.0

797.11 891.8

? in L�CJ

Six months ended September JO, 11118

(Unaudited)

(ll,S91.6)

10,237 I (174.2) (269,6)

S,940.0 47.6

(482.G) 1,)94.•J

),6 (2.2) I.I

6J0.9 s,1J�.s

1.104.0 (3,945.2) 1,9470

�9.7 (2.2,11.0)

83.8 4,665.8 7.280 9

14.669.5 cuo2.s, IJ,467.0

(5,661 I) (45.8)

1.114.7 (4.S9l.i)

l.2�7.9 4,848.9

(9,S29.J) {6,087.1) (8,509.4)

)65.4

3,111.6

i . .f77.0

, in Ian

Septeh1bcr 30, 1018 283,0 96.8

J O'J7.2 J 477.0

Tl,o non,ca.11, changes In liab,llt101 atising ftom l\riilttcing ac1ivi1ie9 pcnai,u to impact of fair value chani.ics ond foreiljn cxchnnge Ouctuotions which ore corn;idcrcd tQ be i�ignifitl.tnt,

c. The above cosh now statement hos been prepared under the 'Indirect Method' �s set our in Indian Accounting Stand.rd 7 (Ind AS 7) on "S1a1en1en1 ofC.ash flows'.

d. Figures in brackets ,ndlc:itc cash out11ow.

e. Purch.uo of property, plont and equipmerit nnd lnt�rogiblo asset! includes mov<,-ments of CDpital work-in-pro11rcss, intan.giblc assets under dcvelQpment, cppitnl advances and pay�blos for property, plant and equipml!nt during tlia period.

SIGNED FOR

IDENTIFICATION

PURPOSE ONLY

��

rr), SlTI. NETWORKS U:I\UTED

Regd. Office: Unit No. 38, ls1. Floor, A Wing, Madb.u Industrial Es1ate, P. B. Marg, Worli, Mwn.bai-400013 -�No'l·cs:-

SITT Nc""uks Limited ('l,c Cca,JU<IY oc �he Holding C-,'i .itssubsidi>ncS, its as,ocia, .. ond ii> joi"' venlw-cs (0011<1:li\�ly 1<fc<red 10 a.. "11,e GI01.1") predo11111W111ly °"""" 10 a sinB,lo bu.sints.s sesmr:nt of cable md broadband disuibcliOCII io ]ndd. only. Hence 1hi::rc::-illrt:. DO .sc:�iely rq,orll..bac bwilKS.S or Geosmphical SC£11Y.RH a:s per lndi:in ll.cc<lun.tins; Stand.ml ('Jnd AS') 108 oa Op<,:uing Segaim1,, n.. afo<euid i• in line ""h it,,, ""Y opcmi11g n:,ul,s .111: "'·""'·""" >Ad ,,,..,...i by !he ehid opcratm£ deasioalldke,fs}.

2 These S'tlGcblone 3M cc.sol.ichud fus:mc:ial rtsUlts mc:ludins compar.1ti,."e liy.u1cs 9\-e: been rc-.,ieYll'Cd by 1heAudi, Commitl.;:,c ;:ind r.ppro,� by the C'ocnpu.11�s. Boald afDkouors in thor mectiny. hr:ldl on No\··o:nbt:r 6. 2019.

Thisc stalemenL of sl.andalon,e and c�lrdaud li:ranci.31. :rC5uhs. lor tl,e qwrtct: and six months ended Sey.ember 30� 2'019 lus bee:c pt.:etcUed im .K-Cor<W'.IC't: "',th :1pplic::1ble Jnd::ln Accounlin.s: SUDd.,,ds find AS') ,peci6cd un<kf· S:.c1ion I 33 ofu,c Cccnpl1'1ics Ml. 2013 ond SEBI. Ci!Qtlw Cilt/Cf1llFAC/6V2016 dEed July 5, �016, Jmd o<he, rocogniS<d =-i<>:!:

pm,iccs and policies.

4 The stata1.ory a-udiitors b.a"'c canie.d CCJt. linailC'd 11:vic.w oflhe 513J\d:Jl.one .ind c-0n.s:olid.:l1ed :foxmcial resutu (0( the qU3!1a :md .si:t: nuxnJu ended Sqncmber 30. 20t9,, :is prepa:i'ed by the mam&ementof1lt•·C.<>mpru,.y, in ""'O<d""'""'"h lhe S:UJ:du� cm R.,,....,,,�&cmenl<(SR£}2410. Ra;ewofTnocsim Fi...,.,..IW0<m�icc, P<rfom=!by Ibo lru!,cp;,nd'cru Auditor of 1he &li.cy� issuL'<I lby the: fmldutei of Ckan.cred .Accau11:UMS ofln.di... 1'h.c $1.and.done and. «.C'ISOlidl!ed CJ.Sb Elo-w statement fol' ·1hc. g,c months em:t.ed Sc:p{Ctllibtt JO, :::OOJ B as reported i• 1hesc fU'Un.diJI cesulcs h1:"1.-e b«n .q,pfO\-d! by 1hi:: Board ofl>i.recaors, but bi.'i'e not lbttn. r.dijca to rc1d�.uidit b:r the 3udL1ors

S Ef!'c,:li\.., FebAJUy I , 201 !>, !he ,.Y;...i retulole<y frnmewori: (llt<cinoftcr rd<ned to as Tariff Ordct· 2017) rd<,,scd iD M:Orch. 2017 by 1he Teleoom. R<,6"fb:OI)' .luarthonty of India (TRAI) foe digital tef:.e.vision: ser.vices \Y:15. �pp6cabk.

6 The C...,J)>ll).,lhe Group eonlinue<I to incur lo,....,. durint lhe qu:uu.- and s« monllts <S>dcd Septcmb:r· lO, 2019 >J>d h:ul ""Bil'"" "-.rkine c,piml as .u Sep1<mber 30, 2019. 11,e Camr,:my in its s,t:uu:bloine fic.:mci1.1J r.esal1.5. ::1lso his :n�tit."e ciet v.utt. as at Sc;nc.nibcr J.0. 2019. As 3t September. 30, 201:9, l.&.cre hl.'to-e .dso, been ccmin. mstinc-es of deb.y.s, in � of obli.g.uions,. �·ofwhich hl.vc been fflllkgoodi.. but in Yieo;•1rof'1hc imna,ECll)fflll. lhc upc;tedsu.bma.ial rtt.'fflli>CJ:rcm'lh and lmprc,\,:m.cnt 111.apcraliog n:�ngin.s und'erthcT:uiff'Order 20L 7. and! 01 ·hcr likely- mrt.ig:,tm.£ raaors such .as.. 1hc �p's ·profSeflt pmi.tive :net wonh, on--g.o:11.S dis:cussions 'Iii.uh tk kn.dcm for corpocuc H5lruc1w:ing. cn.d'.e:Jt\w m.1de: to so:ua:c ;iddiliona1 funds a.a,:! oont1nued li.o:rnc1al support from :ii slakdx:ald.e.r ol 11:te: Cca,JJUI)·� 1h.ese iE11'..:blona'o:msolicb.:o:I � .rCSl:llLS fl% 1he qLW1t2' ilJ1d si:c: mamhs. ended Sep<cml'ics- 30. l019ccml�to bep�c:dana�c. cc:mccmbasisjn vi:ewof3bo,.'C'. Ji>"""' ofongoin� d'.tsa.ssiccm widi leod<JS focreb<ins .,..,lins 3J>d oJf<fuiorul int<r<SI rate,. odd�iooal inl•o:,1 J"';edf nllC bceo 1e,ie,:1 lty Jendcn kts oo: bea, l'JO'ided fa.

7 Durins 1he 1he six ml>lllm period <Od<d Sq,ic,nber )0. 201$, Vorie,y l:M<St:timncM PriYa>c: Limitcd ("'bolly owned ,..1,sidiuy of m.e Cof1ll'ln�) bad. a<iqu""d - shud>olclm.G (4900 shares o!E,ce ,nl•' 1.0 cadlt) 111 =drer sub!J<!i"'Y of1he Cc,mp;my nuiod)·. SEI1 God::uri Dig,1>1 Service Privue Limi,cd. ,her.by iookin,g it• .,,t,olty ""'n.ed "'1>si<mcy of1he c;......,

I &.oepi:iooal. ilCJJU. in 1he·:st.mdalo«K and consc.lid31ed firunri:lf ri:::sul:ls ir..ch>de 1he fo(Jo,,.,.;Ag'

� during. the :si:ot a1onths period eoded Scpumbcr JO.. 201:1,. Ute Conip:1ny had dii.•c:stcd its :S 1% SN.Ccholdin,G. ( I 0.409 .shares. ofU.CC Yllluc t 10 each) ia. a. :sub.si:dilll)' company ni::mu::ly. Sit.1 Bmlll Net ..... 'IJCks, Er.1en:Jinme:nt PriY.l!C: Limi:ed fSjti: .Bhatia./ f'.or a consideral.r.on oi ? l t J.,;s pursUlCI to wllich, I.Dile Group tu.d realised p,::oiil oo di� af :the in�tzns:rt m-iDUMing co � "380.2 :Laa whi.ch has been discl� as :m e�oo..al ittm in -ooruolid.aited fimncial rcs.lls: of1h.c· $.W qwrter Tht1reby. :Crom the dale oi do.sure: oS 1hts d.iv.es1m.enc :md :sel� � Siii. B.h>li1 :m.d Siti ru .. 1isgo,:h M1d1Jtnodia Pri..r.c Llmiu:d (rusociote·ofS�i B!t.Jtia} oeased 10 be pGJtof1hc Gn,,,v,. The· excep1ica:tl itemis ia. the· 5IJ.:iCblone .-d consolidated iiooncial cesults for 1tu: six nxxnths penod ended Se;,te.mb.::r 30. 2018. mo consists o! write off' of liie ::unownL n::c(wcerable � Si1i BhB1i:1 unounting to ? 630.9 J:.c:s, pan;am& to, afocrcmenlioned .di\.--esllr'tml . .amd st1dtmeol urangemcnt The ..et inopa.ct of1lte afORSrid •xotpio"'3l Jb:m& on 1he 51:lrui,Jooc and «1nsolid>l<d finm:131 rcswlS of1he sil: mll<>1hs penod ended Sq,!ember ro. ltll 8 amoanls «It 630.9 IICS :m.d t lS0.7 I= rupeai ... ly.

l>. (Linh.er 10 001e, 8..3 . .aboYC. durJng 1llc yeir fflded .M..-ch 3 1. 20l9. 1hc Tlriff On!ier :ZOL 7 nolifr.ed by the TR.Al r,esglted tttlo, changes in pri'.cing mr:cCilmsrn :md cat.Jini amn.sements: -....uh the caslcmen. The Man:1.semen1. bucd: on ·its re,.'iea•, and ia terms. of one,oiin.s Dtg0Ci&1iom �ilh rhe cusl:Clmc:s., hld pcll"llfdcd for ct'll'IDin la.de rcceiv:ibks and ,ut-nnces .a:uount:ing to 't LS..400.0 fa.cs ini :s.u.adllonc fWJleial nsults :i.o.d t 0, 79&.CI IK.S en consolid:rh:d 6n.ma.Jf resulu. The· ex,ccplional itmts ira 1hc .sbndnlaot and cansolid'ated 6na:r,ci::II :resu:lu.1bo, :include one tim.i:: provision tov,;uds em;,i1111·eco,,�nhlc 3.JCOUnts and o:!her Sffll.e.ments 3GGf,t:g;'.ll:D\S , 377.9

J.u:.s.. The: imp.:t oft.he aforcs�id ex,oep1ion.:1J iti::rru. ca lhc standalon.e:Uid coruol.:idai-ed ftMn.cial rc:slDILs 311JOUJllS co :r I a..m:9' lacs and"?. 7,1 lS.9 hes. r.-especti\'Cly

The: combi11.ed iolpa,;:t of 1hc a\,ove no1:es"S..a.. and S..h an 11.e: saand:JJ:on� and coosoli'.cbtcd fin.am;:i•I resell5 o.fthe )'Cllr ended h-brd: 1.1, 20•9 311:iOUfll.$10, t 19,408..S her and�: 7,426 6 bc:s "'5))COb .el Y-

c. during lhe qUJirtcr �nd six �hs. end'ed Jwx: 30. 2()J"9', pcnu:::1nt to im.,lc:miwl&lico of lbt Tariff Ont.er :!<l 1 r. the rmna� of 3 .subs.idiar)' C·DnlJQn:, prnvultd ror cerwn U:Jcl'.e: receivables amou.n1ins: ca I 1,962,6 l:u:s in lbe coosolid:11:ed fin311i;iJJ rC$U'll5..

!) For the quaner ended June 30. 201.9. and for lfiDl1--t:r :u;d :six .m.omlu. end'.cd Sq,i-c:mbt:r 30, 201'9', che 'KC'\'ffltlltie from Ope�ons· ifi.cludcs l:coodc::rn:cr.s· share 1n �iCCI ic.c.onac irom

pay chmDds and 1he .said bro:ldeuic:n' sOOrehu bem pr,esen.ied,as.m ape:lSC�..ountin.G cot 9,;0)7,0 lat.�� 10.$24.?'b.cs and t 19',861.7 lacs; for 1he.q.ualtdcndcd hmc)O, 2019', and f.or qu•tcnnd ,a me..,h<ended ScplembcdO, 201'1 in !he wnd:tronc fimn.cial cesulcs·...i , l!U03.! hies .. t 20.}14.3 bes and � lS,4 LS.I la<S [ouhc quatU< enJod Jone 30, 2019, ond for 1hc .qumtu � 1i:c: months ,ended Septcmba )0, 2.019 io lhc COCISDl.dued li1:1:1nci1I r,csJ;1)ts: 1espeaivel�

Rid lh.ese expenses been -d�od on Dd bliSis., Ille 'RC\'er.L1te lfom. Operations:� md the '"Pa.y clannel, Qlr� sm.ting and .n:l:.1ed costs' c:u:!, woul.d hb� l:io:n lowu by 't: 9',037.0 lacs, -t 10,s24. 7 be, and � 19,961.7 J:,cs 6:,r tlte qwinct: endod Iu:ne '.Ml, 2019., :IDd fo«1111C1erarul siuaonllls <=>dod Sept<rubcr 30, 2G 19 ,n 11,e SW>d.done f11W1Ciol cesulu, >:<I , I S,103.8 bes, , 20.}14,3 be>and �3M[U lac, 6:>rlhcqutn<rendcd Iumo'.Ml, 2019,,ml forqwncr>ndsiuoonll>smdo:!Scpt:cn,.,edO, 201.9 in 1hccc:molid»<d lin:i:xt::ilruulu J<SpeaiYely, it.ousn tba:e v.'(Juld lo.vi: bem no im,pi.ct OD the nc1 toss li>rt'be gu.ut:ennd pm.Cid th.en ended. The manigcm.cnt is io process. of e'\':1J:m.tin.9, tbe: afe1e:SUd !JCtsmU.lioo in 6,ght of �neralty 30:epted a::cou=:iog principles� indudi.ng lnd AS-11.S. 'Rc\'Ct'fl.le from r:anll'Kt5 witb cuscom.er:s' :md paaioes.

IO The Ccanp:111}' too 1he Group ia,..., •�opled Ind AS I lo '.Lea,.,.. v.ill, e:!fect riom Jq,ciJ Ol, 20L 9 u,d occo«!Jqly diie standalon.c and <G<S<tlid.u<d fmaru:iol ruuru fD< the <1uancs oml si>< monlm c.cded Se;:i1e:mhcr J.OJ 2{fl 9 h.:l._i.c been pt:,q:iaud in. .1.ecor,chn,::� v.ilh. recQGni,i� and! m;easure;um pcim;:if)"ls. conJ:aicedi therein. thou.sh th1.s .lidopllan did DDl h3\-e: any :rn.»erial imr:aai

SIGNED FOR IDENTIFICATION PURPOSE ONLY

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SITI NETWORKS LIMITED Rq¢. Oll1oc.: Unit No. ll. I." Aooc, Mldhu lndus,ri,I Esta1:e, Pandur""!: Bodhhr Mug. Worli, r,.fum1,u 400011

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EX.TRACT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30,20L9

Ccesolidmd r..-.i Rc,ukJ Standol-· rmantiial lt<sults Qmcttt'itnded Qaotur ondod Ho11Y<armded Ho'lfY•ar·<sufed FHUD<UI Y<u Quu1uau!ed Q,,u1..-<11ded Quuter.· ICDdtd HJ• Yeu ended -·J;0.l0[9 ,S'q,tembtt J0,2D111 S.pt<mb..- S.pt<mbedO, <ndod �1..-<h ,)I, Stpkmbc:r .J0,?919 Jun<Jll,tGE� S.p«mb..- s.pC<mb<r 30,2J)L9 4Uou,61 ... > {\Jn...titoilt '°·�·� Nia ?01.9 (U11::rndit.c10 (Unauditc<lt 30,IOla (Un...dil.odt

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(6,.167.6) (USH) (9.273.1) (lo..?'l11.31 Cl;S.420) (3,1422) CS,Z.11.2) (4.972.0) (8,900A)

(-1.�8.7) (-1,190.2) {K;421.0) (1(1.-193.2) {26,42U) (4,L'9.I) (S,Z.1"2) (4,912.0) 4�.3U.O)

(-l,934.4) (4.712..8) (B,ffl.6) {I 01ln.S) (M.4S0.I) (USU) (S.?42.0) (4,961.7) (�.391.5)

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2.. The ob<= lkit>Stod f.imncial ,lt.sullJ· far1ho5:o,od 'I"""'" ofllil: fuun<i.31�=20110193Dd bo!f i,,,... nwbl 00 5q,t=l,ccJ>O. 21>!9 lus hem pn:;xm:11 "'�"ldl mdun-s s,-. {Ind ASI n., nc:<iofind omdi:r lh: Cc:aq,zuos (lndiln l=a:n1ini; s-.i.1 R.l,s, 21115 ... 1-;liod n ..,....;on 113 oflioc Caunoaios A<r. 201 l. 1. The o'l:lo« is OD -.ct ollhc: <!ouikd bnu.t olUruud.ilnd F,JW>ci,J R=lr. fc>r the b the,toxnd Cjll.ufcr ofob: fuwu;i>J )"-" WIS,19 :ud lulf)'e>r<ndat on September 30, 2019 filnd by ti:.< C'oo>JW>Y ,ml, lhi: Stod< E.� unol:r IL:;p,J2,i<D 33 ofili< SEBE (l.islu,g llOd Odo;,- Disch1s1.-e rtq.uircm::sal Rco..9,1bt1cm:, 20·1 S. n.c foll fons:lt.oflh Umu&o=d fimn:iil!J 'Rcsulu focth: far llt.:: � q,JJ.lrul'-oFlht: fimnc::i:al }nr ::lOU-1!1' z:d :tnlf !,-r.:1r iXdtd mi Sq:(crd!x:r- 30, l'OIS uc :1t,tljbN: a, th::St.od: E.u::tuni,;: n.d:lsi1cs: (L\'v."YI bsdrJi� am ::ad v."W."14· ns;inS."J.cumJ.md also<m lla.c Com1_:uo�fs;w�.bsi1ct�· 5:ftm� i!H!l

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Walker Chandiok &.Co LLP

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd)

Our review report for the quarter ended 30 June 2019 was also qualified with respect to this matter.

5. Based on our review conducted as above except for the effects of the matter described inprevious section, nothing has come to our attention that causes us to believe that theaccompanying Statement, prepared in accordance with the recognition and measurementprinciples laid down in Ind AS 34, prescribed under Section 133 of the Act. the SEBI Circular,and other accounting principles generally accepted in India, has not disclosed the informationrequired to be disclosed in accordance with the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), includingthe manner In which It Is to be disclosed, or that it contains any material misstatement.

6. We draw attention to note 6 to the accompanying Statement, which indicates that the Companyhas Incurred a net loss of (4,153.5 lacs and f 9,395.5 lacs during the quarter and six monthperiod ended 30 September 2019, and as of that date, the Company's accumulated lossesamount tot 176,527.8 lacs which have resulted in a negative net worth of the Company oft 7,174.2 lacs and its current llabilitles exceeded its current assets by t 92,562.2 lacs resultingin negative working capital. As at 30 September 2019, there have also been certain instancesof delays in repayment of obligations. The above factors along with other matters as set forthin note 6, indicate a material uncertainty, which may cast significant doubt about the Company'sability to continue as a going concern. However, basis the impact ofTariff Order 2017, ongoingdiscussions with the lenders of the Company, and other factors mentioned in aforesaid note tothe Statement, the management is of the view that going concern basis of accounting isappropriate for preparation of these results. Our opinion Is not modified in respect of this matter.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registratipn No: 001076N/N500013

ahaja artner

Membership No. 504822 UDIN \tJSOltJ.2.2.Af-lAAC.S.J.O

Place: Noida Date: 06 November 2019

Chai'torad Acc;ountanhs

Walker Chandiok &..Co LLP

Walkor Chandlok & Co LLP

Plot No_ 19A 7th Floor

Sllctor • 16A

Noide - 201 301

lnt/Ja

1*911:20 710 9001

F +91 120 710 9002

Independent Auditor's Rtview R�port on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of SITI Networks Limited

We have reviewed the accompanying statement of unaudited consolidated financial results {'the Statement') of SITI Networks Limited {'the Holding Company') and its subsidiaries (theHolding Company and its s1.1bsidiaries together referred to as 'the Group'), its associates and joint venture (refer Annexure 1 for the list of subsidiaries. associates and joint ventureincluded In the Statement) for the quarter ended 30 September 2019 and the consolidated year to date results for the period 01 Aprll 2019 to 30 September 2019, being submitted by theHolding Company pursuant to the requirements of Regulation 33 of the SEBI (ListingObllgatlons and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars lss1,1ed by the SEBI from tlme to tlme_ Attention is drawn to the fact that the cash flow figures for the corresponding six month period ended 30 September 2018 have been a.pproved by the Company's Board of Directors, but have not been subjected to audit or review,

2. This Statement, which is the responsibility of the Holding Company's management andapproveQ by the Holding Company's Board of Directors, has been prepared in accordancewith the recognition and measurement principles laid down in Indian Accounting Standard 34,Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act.2013 ('the Act'), SEBI Circular CIR/CFD/FAC/62/2016 dated 5 July 2016 (hereinafter referredto as 'the SEBI Circular), and otlier accounting principles generally accepted in lndla. Ourresponsibility is to express a conclusion on the Statement based on our review,

3. We conducted our review of the Statement in accordance with the Standard on ReviewEngagements (SRE) 2410, Review of Interim Financial Information Performed by theIndependent Auditor of the Entity, Issued by the Institute of Chartered Accountants of lndla. Areview of interim financial information consists of making inquiries, primarily of personsresponsible for financial and accounting matters. and applying analytical and other reviewprocedures. A review is substantially less in scope than an audit conducted in accordancewith the Standards on Auditing specified under section 143(10) of the Act, and consequently.does not enable us to obtain assurance that we would become aware of all significant mattersthat might be identified in an audit Accordingly, we do not expre-ss an audit opfnion.

We also performed procedures in accordance with the SEBI Circular CIR/CFD1CMD1/44/2019dated 29 March 2019 Issued by the SEBI under Regulatfon 33 (8) of the SEBI (ListingObligations and Dis.closure Requirements) Regulations. 2015 (as amended), to theJ;,14,�rt-.... applicable. �c ·

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� W--tlkcrC�lt>Jl."'�u,.,,:­�il!!l!'<led n1,.,,!1C1 MC•l l•roif QI!<� �! l,-41 CqnftQ1.'9ht Clneuo. NaN Oolhi, 110001, 11'46

Walker Chandiok �Co LLP

Independent Auditor's Review Report on Consolidated Unaudited Quarterly FlnanclalResults and Year to Date Results of the Company Pursuant to the Regulation 33 of thG SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd)

4. As described In note 9 to the accompanying Statement, the Group's 'Revenue fromOperations' include broadcasters' share In subscription Income from pay channels, which hascorrespondingly been presented as an expense which is not in accordance with therequirements of Ind AS-115, 'Revenue from contracts with customers'. Had the managementdisclosed the same on net basis, the 'Revenue from Operations· and the 'Pay channel,carriage sharing and rela ted cost' each would have been lower by � 20,314.3 lacs and �38,418, 1 lacs for the quarter and six month period ended 30 September 2019. while therewould have been no impac t on the net loss for the quarter and period ended 30 September2019.

Further, with respect to the above matter, qualifications have been given by other firms ofChartered Accountants vide their report dated 01 November 2019, 04 November 2019 and 05November 2019 on the financial results of the subsidiaries of the Holding Company, namely,Sltl Prime Uttranchal Communication Private Limited, Central Bombay Cable Network Limited,Indian Cable Net Company Limited, Slti Jind Digital Media Communication Private Limitedand Siti Slri Digital Network Private Limited respectively, and Is reproduced by us as under1

with the aggregate amount pertaining to such subsidiar ies as included In the aboveparagraph:

The Company's 'Revenue from Operations' Includes broadcasters' share in subscriptionincome from pay channels, which has been presented as an expense. Had the managementdisclosed the same on net basis, In accordance wlh Ind AS, the 'Revenue from Operations'and the 'Pay channel, carriage sharing and related cost· each would have been lower by f9,384.3 lacs and � 17,508.3 lacs for the quarter and six month period ended 30 September2019, and the loss for the quarter and six month period ended 30 September 2019 wouldhave been the same. ·

Our review report for the quarter ended 30 June 2019 was also qualified with respect to thismatter.

5. Based on our review conducted and procedures performed as stated in paragraph 3 aboveand upon consideration of the review reports of the other auditors referred to In paragraph 7below. except for the effects of the matter described In previous section, nothing has come toour attention that causes us to believe that the accompanying Statement, prepared inaccordance with recognition and measurement principles lald down In Ind AS 34, prescribedunder Section 133 of the Act, the SEBI Circulars and other accounting principles generallyaccepted In India, has not disclosed the information required to be disclosed In accordancewith the requirements of Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 (as amended). including the manner In which It is to bedisclosed, or that it contains any materla l misstatement.

6. We draw attention to note 6 to the accompanying Statement, which Indicates that the Grouphas incurred a net loss of� 3,484.2 lacs and" 8,438.6 lacs during the quarter and six monthperiod ended 30 September 2019. and as of that date, the t3roup's accumulated lossesamounts to f 158,298.9 lacs and its current liabilities exceeded its current assets by t88.159.9 lacs which has resulted In negative working capital. As at 30 September 2019, therehave also been <i:ertain instances of delays in repayment of obligations. The above factorsalong with other matters as set forth In note 6, indicate a material uncertainty, which may castsignificant doubt about the Group's ability to continue as a going concern. However, basis theImpact of Tariff Order 2017, ongoing discussions with the lenders of the Company, and otherfactors mentioned in afor esaid note to the Statement, the management is of the view thatgoing concern basis of accounting is appropriate for preparation of these results. Our opinionis not modified in respect of this matter. �o §,rn4v . 10.,..cf

('

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Walker Chandiok &.Co LLP

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of t.he Company Pursuant to the Regulation 33 of theSEBI (Listing ObligatJons and Disclosure Requirements) Regulations; 2015 (as amended) (Cont'd)

7. We did not review the Interim financial results of nineteen subsidiaries included ln theStatement 1 whose financial information reflects total assets of i! 142,034.2 lacs as at 30September 2019, and total revenues of, 21,688.9 lacs and t 41,714.5 lacs, total net lossafter tax of, 185.4 lacs and , 172.7 lacs, total comprehensive toss of� 187.4 lacs and ,

176. 7 lacs. for the quarter and six month period ended on 30 September 2019, respectively,and cash flows (net} oft 3,145.7 lacs for the six month period ended 30 September 2019, asconsidered In the Statemen t. The Statement also includes the Group's share of net profit aftertax of , Nil and � NU and total comprehensive income of { Nil and t Nil, for the quarter and sixmonth period ended on 30 September 2019, respectively. as considered in the Statement, inrespect of one assoclate and one joint venture, whose Interim financial results have not beenreviewed by us. These interim financial results have been reviewed by other auditors whosereview reports have been furnished to us by the management. and our conclusion i n so far asit relates to the amounts and disclosures Included In respect of these subsidiaries, assooiateand joint venture is based solely on the review reports of such other auditors and theprocedures performed by us as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter.

8. The Statement includes the interim financial results of four subsidiaries. which have not beenreviewed by their auditors, whose interim financial results reflects total assets of� 20,571.12lacs as at 30 September 2019, and total revenues oft 2,699.3 lacs and , 4,650.7 lacs, netprofit after tax off 873.0 lacs and f 1,170.8 lacs, total comprehensive income oft 873.0 lacsand , 1,170.8 lacs for the quarter and six month period ended 30 September 2019respectively, cash flow (net) of, {602.7) lacs for the period ended 30 September 2019 asconsidered in the Statement. The Statement also includes the Group's share of net profit eftertax of, 28.5 lacs and ? 70_5 lacs, and total comprehensive income off 28.5 lacs and� 70.5lacs for the quarter and six month period ended on 30 September 2019 respectively, Inrespect of one associate, based on their lntenm financial results, which have not beenreviewed by their auditor, and have been furnished to us by the Holding Company'smanagement. Our conclusion on the Statement, and our report in terms of Regulation 33 ofthe SEBI (LisUng Obligations and Disclosure Requirements) Regulations, 2015 (as amended},read with SEBI Circular, In so far as it relates to the aforesaid subsidiaries and associate arebased solely on such unreviewed interim financial results. According to the Information andexplanations given to us by the management, these interim financial results are not material tothe Group.

Our conclusion ls not modified in respect of this matter.

For Walker Chandlok & Co LLPChartered Accountants Finn Registration No: 001076N/N500013

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Date: 06 November 2019 �'?foAccov

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Walker Chandiok &.Co LLP

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd)

Annexure 1

List of entitles included in the Statement

Subsidiaries

1. Central Bombay Cable Network Limited2. Indian Cable Net Company limited3. Master Channel Community Network Private Limited4. Siti Networks India LLP5 Siti Broadband Servtoes Private Limited 6. sm Faction Digital Private Limited7. Sftl Global Private Lrmlted8. Sitl Guntur Digital Network Private Limited9. Siti Jai Maa Durgee Communications Private Limited10. Sltl Jlnd Digital Media Communications Private Limited11. Siti Jony Digital Cable Network Private Limited12. Siti Krishna Digital Media Private Limited13. Sltl Maurya Cable Net Private Limited14. Siti Prime Utt"Sranchal Communication Private Limited15. Siti Sagar Digital Cable Network Private Limited16. Siti Saistar Digital Media Private Limited17. Siti Siri Digital Network Private Limited18. Siti Vision Digital Media Private Limited19. Sltlcable Broadband South Lirnrted20. Variety Entertainment Private limited21. SITI Godaarl Digital Services Private Limited22. lndlnet Service Private Limited23. Siti Kamal Digital Media Network Private Limited

Joint Venture

1. Wire And Wireless Tisai Satellite Limited

Associates

1. Voice Snap Services Private Limited2. C&S Medianet Private Limited

1

SITI NETWORKS LIMITED

SITI Networks’ Operating EBITDA surges 43% Y-o-Y & 16% Q-o-Q to Rs.975 Mn.

• Operating EBITDA Margins jump 1.3x y-o-y and 1.1x q-o-q to 23.4%

• Subscription Revenue jumps 13.2% y-o-y to Rs.2,885 Mn

• Total Revenue, excluding activation surges 11.3% y-o-y and 6.3% q-o-q to Rs.4,171 Mn

SITI Networks Limited announces consolidated Ind-AS results for Q2 FY20

New Delhi, 6th November 2019: 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 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.

SITI’s Operating EBITDA surged 43% over second quarter of last fiscal, a 16% sequential quarterlygrowth to Rs. 975 Mn. This jump has been due to strict control over operating efficiencies. SITI’s OperatingEBITDA Margin also expanded significantly by 1.3 times y-o-y to 23.4% in Q2FY20.

Subscription revenue grew 13.2% y-o-y to Rs. 2,885 Mn in Q2FY20, aided by the strong growth in Digital Subscription ARPU, which leapt 1.7 times to Rs.127 per month. Total Revenue (excluding activation) also surged 11.3% y-o-y to Rs. 4,171 Mn.

SITI has continued to update its systems and processes across multiple touch-points to be fully compliantto the Tariff regime. The company has continued to work with all stake-holders, be it the Regulator, the 24,000+ strong distribution network, Broadcasters, and above all its esteemed customers to deliver its services. Recently, SITI extended the benefits of Festival Offer released by Broadcasters to its customers.

While commenting on the results, Mr. Anil Malhotra, CEO of SITI Networks Limited mentioned:

“SITI has continued to show-case robust growth across all metrics in Q2FY20. With key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43% y-o-y to INR 975 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4%. We have also shown continued growth in our Subscription Revenue with a 13.2% jump over second quarter of the last fiscal to Rs.2,885 Mn.”

About SITI Networks Limited

SITI Networks Limited is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education.

SITI Networks Limited is one of India's largest Multi System Operator (MSO). With 10 digital head ends and a network of more than 33,000 Kms of optical fibre and coaxial cable, it provides its cable services in India's ~800 Locations.

SITI Networks Limited deploys State-of-the-art technology for delivering multiple TV signals to enhance consumer viewing experience. Its product range includes Digital & Analogue Cable Television, Broadband and Local Television Channels. SITI Networks has been providing services in analogue and digital mode, armed with technical capability to provide features like Video on Demand, Pay per View, Over-The-Top content (OTT), Electronic Programming Guide (EPG) and Gaming through a Set Top Box (STB). All products are marketed under SITI brand name.