 "Dish TV posts Q1 profit at Rs 54 cr")
Its consolidated operating revenues stood at Rs 736.7 crore for the first quarter of the current fiscal, up 19.2% from Rs 618 crore in the same period last year. The operating revenue includes subscription revenues of Rs 682.8 crore, up 20.6% year-on-year. EBITDA for the quarter stood at Rs 236.8 crore compared to Rs 156.5 crore in the corresponding quarter last fiscal while EBITDA margin was recorded at 32.1% compared to 25.3% in same quarter last fiscal.
Despite Q1 being a relatively weak quarter seasonally, Dish TV gained subscribers both in the Phase 3 and Phase 4 markets as well as in the upmarket localities in the country. The DTH operator added 390,000 net subscribers during the quarter taking its total subscriber base to 13.3 million at the end of the period with churn for the quarter being 0.7% per month.
Jawahar Goel, managing director, Dish TV, said: “Our first quarter results are in line with the success of our regional and high definition (HD) strategy. Our regional offering, ‘Zing’, would soon be launched in Kerala and would carry the largest cache of vernacular channels offered in that market. ‘Zing’ cemented Dish TV’s supremacy in the DAS Phase 3 & 4 markets with custom-made content, hardware and service packages for the regional audience. High definition continues to be a value driver and a key differentiator for us compared to other DTH offerings in India. Dish TV’s industry leading bandwidth capacity supports 42 HD channels, the largest on offer by any distribution platform so far.”
Dish TV also recently formed a content negotiating joint venture (JV) called ‘Comnet’ with its group company and multi-system operator, Siti Cable Network Limited. Both Dish TV and Siti Cable are equal partners in the JV. The JV also tends to bring together the industry on contentious taxation issues like the recent arbitrary increase in entertainment tax in Delhi.
Subhash Chandra, chairman, Dish TV India Limited said: “India is transforming. Though the vibrancy is still low, a sense of confidence that things will only get better for us as a nation is largely omnipresent. Such optimism is good not only for the media and entertainment industry but for most industries in general. The proposed big ticket legislative reforms, on seeing the light of the day, would further strengthen the economic position of India in the global scenario.”