The group sees a scope for providing digital TV services to an additional 30 million homes in the rural universe of 99 million homes. Another 20 million homes await power to households and will begin to watch television in next three years.
At present, HVL has combined its HITS and cable TV businesses under IMCL. The HITS business was under Grant Investrade, which is being merged into HVL. The amalgamation process is pending approval before the National Company Law Tribunal (NCLT).
As per group, IMCL could garner one of the highest numbers of additional subscribers in the cable-based platform in the industry with the combined benefits of hybrid satellite plus fibre (HITS) and fibre-based digital (MSO) platforms.
According to company, IMCL has been able to provide an innovative entrepreneurship model in the semi-urban and rural areas, adding 3000 local cable operators (LCOs) and other business partners.
It further stated that IMCL continues to make inroads into the rural areas through HITS platform NXT Digital.
HVL has registered a consolidated net loss after tax and minority of Rs 255.54 crore stood for the fiscal ended March 2018 as against a loss of Rs 56.61 crore for FY17. The company has reported consolidated total income Rs 868.97 crore as against to Rs 826 crore for FY17.HVL’s loss from media and communications segment was Rs 377.5 crore compared to Rs 314.8 crore. The revenue from the segment was Rs 651.7 crore compared to Rs 613.1 crore.