Net loss of Rs. 486 million negatively impacted by foreign exchange loss of Rs. 304 million
BestMediaInfo Bureau | Delhi | October 20, 2011
Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) has reported second quarter fiscal 2012 revenues of Rs. 4,822 million, representing a 48 per cent growth over the corresponding period last fiscal. EBITDA for the quarter stood at Rs. 1,218 million, compared to Rs. 503 million in the corresponding period last fiscal. EBITDA margin recorded at 25.3 per cent. Foreign exchange loss hiked net loss by Rs. 304 million.
The Board of Directors in its meeting held yesterday, has approved and taken on record the unaudited financial results of Dish TV for the quarter ended on September 30, 2011.
Subhash Chandra, Chairman, Dish TV India Limited, said, “With the threat of another economic slowdown looming large over us, consumer activity in India seems to be slowing down in comparison to the healthy pace it had maintained all this while. Despite being fairly insulated, being the bread & butter of entertainment, DTH as a category was impacted by consumers’ inertia to pay for discretionary spends. While the industry recorded lower acquisitions, both on a sequential and yearly basis, in the second quarter, Dish TV managed to efficiently maintain its leadership while reporting a steady increase in operating margins for the sixth consecutive quarter.”
Jawahar Goel, Managing Director, Dish TV, said, “Dish TV has been the frontrunner of the Indian DTH industry since inception and has time and again demonstrated agility to adapt itself to a changing business environment. As challenging macro economic conditions prevail, we believe Dish TV remains well placed to capitalize on any resultant opportunities.”
“The recent digitization mandate spells opportunity for the DTH industry to strengthen its foothold in traditional cable strongholds. As consumers choose between alternatives, we believe that Dish TV with its strong brand presence and service backup is likely to be one of the preferred choices of the television consumer,” he added.
Commenting on the overall performance, Goel said, “In line with our expectations, Dish TV moved closer to attaining bottom line profitability but for the loss due to foreign exchange fluctuation. Subscription revenue recorded sustained sequential increase while EBITDA maintained its upward trend registering an increase of 8.6 per cent compared to the immediately preceding quarter. Key operating metrics continued to be favorable, with ARPU registering encouraging improvement in a seasonally weak quarter. ARPU for HD subscribers was at a level of Rs. 454, pointing to a window of opportunity to scale up overall ARPU’s going forward.”