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HomeNewsCable NewsMy Box’s losses for FY19 increases 11 times
Wednesday, 12 June 2019 05:56

My Box’s losses for FY19 increases 11 times

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Focus on debtor collection and development of new products such as Alexa kit, Android and hybrid set-top box (STB) caused heavy loss for the set top box (STB) manufacturer My Box Technologies; its FY19 net loss has increased 11 times and its revenue has fallen 76%.

The manufacturer’s net loss stood at 12.1 crore in FY19 as against Rs 1.1 crore in the previous fiscal. EBITDA loss more than doubled to Rs 12.8 crore from Rs 6.1 crore. Revenue declined to Rs 20.6 crore from Rs 85.8 crore.

My Box Technologies reported EBITDA losses during FY18-FY19 on account of the low sales volume. During FY18, HEPL acquired the home automation segment for Rs 14 crore, providing the required support for research and development, and interest servicing. The debtor collection of Rs 32.5 crore in FY19 enabled the company to meet its interest obligations.

As reported earlier, MBT launched a MyBox kit for Alexa to diversify the revenue stream and reduce dependence on the commoditised cable segment. The kit enables the user to experience Amazon’s Alexa voice services on their existing set-top box. The management believes along with the standalone sales; this kit would augment the sales of new set-top box.

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