Dish TV Q2 net profit down 75% to Rs 5.4 crore

Direct-to-home firm Dish TV India Ltd on Thursday reported a decline of 75.49 per cent in its consolidated net profit to Rs 5.41 crore in the September quarter.

It had reported a net profit of Rs 22.08 crore in the July-September quarter a year ago, according to a regulatory filing.

Its revenue from the operation declined 19.64 per cent to Rs 479.15 crore during the second quarter of this fiscal in comparison with Rs 596.31 crore in the corresponding quarter.

Dish TV's total expenses in the September quarter were Rs 468.09 crore, down 18.12 per cent.

Its total income in the September quarter fell 20.43 per cent to Rs 485.88 crore.

During the quarter, "Dish TV India ended the second quarter of fiscal 2024 gaining ground with close to a million new acquisitions (both DTH and OTT verticals), a number the company had not come close to in the last several quarters," an earnings statement from Dish TV said.

In the September quarter, Dish TV's Subscription revenues were 9.37 per cent lower at Rs 395.5 crore as against Rs 436.4 crore a year ago.

Dish TV's revenue from 'Marketing and promotional fees' stood at Rs 63.2 crore, down 52.48 per cent.

Its advertisement revenue was also down 24.5 per cent at Rs 7.7 crore.

"The second quarter was a mixed bag with favourable new additions but continued, below par average revenues per user. Macro-economic challenges on account of an erratic monsoon season subdued rural demand and other geopolitical factors aside, our focus on responsible acquisitions and subscriber retention should help push average revenues per user as well," its Chief Executive Officer Manoj Dobhal said.

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