On a sequential basis the total income increased to Rs 53.7 crore, from Rs 52.4 crore, up by 2.5 percent, EBITDA increased 22.8 percent and stood at Rs 17.1 crore and EBITDA margins increased to 31.5 percent against 26.3 percent in Q1FY17.
Most of the growth comes from acquisitions, says Bibhu Prasad Rath, CEO of the company. The target is to achieve 1 million subscribers by this fiscal.
After logging a 30 percent rise in total income, Bibhu Prasad Rath, president and chief executive officer, Ortel Communication, says the company is targeting a subscriver base of 1 million by the end of two years.
Cable TV services provider Ortel Communications listed at an eight percent discount to its issue price of Rs 181 per share.
The regional cable TV services provider expects number of subscribers to go up post fund raising.
Ortel, a regional cable television and broadband service provider, plans to enter capital markets with a public issue of up to 1.2 crore equity shares of face value of Rs 10 each.