Excitel achieves 32 per cent rise in revenues for FY23

Excitel Broadband Private Limited’s revenues and net loss has been steadily growing over four years. The revenues of the company jumped from Rs 1.4 billion in 2019-2020 (FY20) to Rs 2.2 billion in FY21. The revenues further jumped to Rs 2.96 billion in FY22 and to Rs 3.91 billion in FY23.

Meanwhile, the net loss of company increased from Rs 247.8 million in FY20 to 400.1 million in FY21. The net loss further jumped to Rs 740.1 million in FY22 and to Rs 1.55 billion in FY23.

In addition, Excitel Broadband had, earlier in 2024, launched a new limited-time offer called Monsoon Hungama 2.0. Under this offer, customers opting for six months of internet service could get an additional three months of free service at no extra cost. The Excitel Monsoon Hungama 2.0 had offered nine months of free access to more than 16 over-the-top (OTT) platforms like Sony LIV, Alt Balaji, ShemarooMe, Distro TV, Ullu, iStream, Fancode, Om TV, along with access to over 300 Live TV channels. The plan also offered up to 200 Mbps of internet speed. The Monsoon Hungama 2.0 offered a cost of Rs 3,699 (including GST) for nine months, which brought the price to Rs 349 per month (excluding GST).