On Q-o-Q basis quarter ended Dec 2015, total revenues grew 10% at Rs 300.4 crore. The loss at net profit level stood at Rs 32.58 crore against Rs 48.9 crore in Sept quarter.

On Y-o-Y basis, for the quarter ended Dec 2015 operating revenues grew 26% at Rs 300.4 crore. The loss at net profit level stood at Rs 32.58 crore against Rs 58.05 crore in the corresponding quarter of last year.

The subscription revenue grew by 9% to Rs 108 crore. The placement revenue grew by 8% to Rs 82.2 crore and broadband by 54% to Rs 78.7 crore. Activation revenue inclined by 209% to Rs 22.3 crore and others by 59% to Rs 9.2 crore.

On a consolidated basis, the company deployed 0.9 Mn STBs in Q3. With this, Phase III subscribers increases to 3 mn. It is expected that Phase III deployments will further grow once court mandated stay orders in certain markets are vacated.

The Prepaid launch for direct customers in Bangalore helped the company register a 24% increase in collections, Subsequent to Bangalore Mumbai, Delhi and Pune direct customers have also been converted to Prepaid in Q3. A Substantial improvement in collection from direct customers is expected in the following quarters.

74% of current direct subscriber is on prepaid basis and by end Q4, 94% will be converted on prepaid basis.

The company's total cable universe stands at 12 mn subscribers. The company has 9.6 mn digital subscribers out of which 68 mn subscribers are paying subscribers.

2 major operators signed in Q3. The company signed one major deal with cable operator in North East region.

As per management estimates, Quarterly EBITDA inclusive of Hathway's economic interest in the EBITDA of its several Subsidiaries/JVs/Associate companies would aggregate to about Rs 83.17 crore (net off license fee).

Net of Taxes ARPU in Phase I at Rs102 and Phase II at Rs 83 as compared to Rs 100 and Rs 80 respectively in Q2FY16.

STB inventory is around 1 mn and 0.5 mn boxes in transits

Despite increase in APRU QOQ and addition of subscriber in Q3, subscription revenue growth was less due to dispute with Sony entertainment and some issue impacted the LCO collection

Monetization of phase III will happen in Q1 FY17. It will be quicker than phase I and II

In phase III, none of STB issued without proper documentation and also there was no credit given to LCOs to acquire the boxes.

The company has announced 2 packages in majority of places. Base pack will have sport and premium pack will have English content. The company has 2 primary packs, 8 region packs and 6 add on packs. Pricing of 1^st pack is around Rs 350 – 360 and another is Rs 350 – 450.

The mgmt said that they are working with industry to start implementation of billing as soon as possible.

In broadband business, the number of Homes passed in Q3 grows to 2.8 mn homes. The company continues with aggressive growth in Broadband subscriber numbers and this is reflected in Net additions of 50000 customers in Q3 (37000 on standalone basis) taking the total Broadband subscribers to 567000. The financial results for the period takes into account 8% License fee in the broadband business. The Company had moved TDSAT for a stay on the license fee and Honorable TDSAT has granted the stay till the disposal of the matter. If License fee is added back, EBITDA would increase by Rs 6.3 crore for the quarter.

23000 plus broadband subscribers addition run-rate every month.

Broadband Standalone ARPUs increased Q-o-Q from Rs 658 to Rs 683 (+3.8%).

The company is well funded for phase 3 and broadband expansion.

The company has done Rs 325 crore capex in last 3 qtrs.

Standalone Gross Debt is at Rs 1399 crore and Net Debt is at Rs 1337 crore. Consolidated gross Debt is at Rs 1829.8 crore and Net Debt is at Rs 1711.5 crore

The mgmt said that it is confident of reaching 3 mn subscribers in phase 3 by end of March of which 0.9 mn is already added.

The company has started new initiative called Hathway connect which is related to empowerment of LCO with tools to upgrade and deal with customers

On content negotiation, the company has done fixed fee contract with Star and is in negotiation with Zee.

Outlook remains Intact on ARPU for phase I at Rs 110 and phase II at Rs 100 outlook. For phase III and IV, the mgmt expects ARPU around Rs 50 in Q2 FY17, which will rise to Rs 80 going forward.

Broadband capex for 9M FY16 was Rs 150 crore and for FY17 will be Rs 200 – 250 crore.

The mgmt expects Rs 100 – 150 crore increase in Net Debt in next fiscal year.

The company is planning to demerger broadband business.

Net content cost is Rs 25 per sub per month.

1.5-1.8% MoM - net churn rate in broadband.