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Dish TV Q1 FY12 loss narrows 71 to Rs. 18.32 crore

Reports standalone revenues of Rs.460 crore, 51% growth over the corresponding period last fiscal.

BestMediaInfo Bureau | Delhi | July 21, 2011

Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) has reported first quarter fiscal 2012 standalone revenues of Rs.4,604 million, representing a 51% growth over the corresponding period last fiscal. The EBITDA for the quarter stood at Rs. 1,122 million, compared to Rs. 322 million in the corresponding quarter last fiscal. EBITDA margin recorded at 24.4 %. Net loss reduced to Rs. 183 million compared to Rs. 631 million in the first quarter last fiscal.

The Board of Directors in its meeting held yesterday, has approved and taken on record the unaudited standalone financial results of Dish TV for the quarter ended on June 30, 2011.

Subhash Chandra, Chairman, Dish TV India Limited, said, “With digital quality catching the fancy of the Indian television viewer, DTH penetration in the country continues to grow at a smart clip. Dish TV maintained its leadership with a 25% incremental market share. Going forward, consistent revenue momentum is expected due to strong subscriber additions done last year.”

Jawahar Goel, Managing Director, Dish TV, said, “Dish TV remains committed to be the platform of choice for television viewing for the Indian consumer. With constant upgradation of content and technology, Dish TV has maintained its leadership in a hyper-competitive six player market and would strive to maintain it as the category expands.”

Commenting on the overall performance, Goel said, “Key operating metrics continued to be in line with expectations. Subscriber acquisition cost for the quarter was down to Rs. 2,058 however, as expected, churn recorded a marginal upward movement to close at 1.1% per month compared to 1% in the immediately preceding quarter. This was largely due to subscriber inactivity post the cricket World Cup 2011.Average Revenue per User remained steady at Rs. 150 despite a higher subscriber base.”

“Subscription revenue for the quarter stood at Rs. 3,922 million recording an increase of 57% over the corresponding period last fiscal. EBITDA margin further strengthened to reach 24.4%. Net loss continued with its downward trend, making bottom-line profitability visible in the coming quarters,” he added.

Dish TV India Limited continues to be the largest DTH Company in India and the whole of Asia Pacific and is ranked the third largest DTH platform in the World.

In line with its promise to provide wholesome entertainment and to further leverage its transponder capacity, Dish TV recently added new regional channels for its Telugu, Kannada, Oriya and North Eastern viewers. Post the addition, Dish TV offers 20 Telugu, 12 Kannada, 8 Oriya and 8 channels catering to its North Eastern viewers. Dish TV also, further strengthened its HD offering to 40 channels with the recent inclusion of HD content from ‘Fox International’ and ‘National Geographic’

With a last mile reach of more than 11 million subscribers, Dish TV offers a transparent new medium for distinct advertising in an otherwise cluttered environment. Further, with television rating measurement agencies increasing the all India digital weightage in their reported markets to 15%, advertisers have started looking at DTH as a platform of choice for focused advertisement. Dish TV remains focused to scale-up revenue from advertising going forward.

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