 "Dish TV records Rs 692 cr profit in FY16")
Dish TV India Limited reported 12.6% yearly growth in subscription revenues at Rs. 741 crore for the fourth quarter fiscal 2016(Q4FY16). Operating revenues at Rs 799.3 crore was up 9.5% yearly while EBITDA for the quarter stood at Rs 260.8 crore compared to Rs 220.9 crore in the corresponding quarter last fiscal.
Profit after tax for the quarter was Rs 482.8 crore as against Rs 34.9 crore in the corresponding quarter last fiscal. Fiscal 2016 consolidated revenues stood at Rs 3059.9 crore recording a 13.8% growth over the previous year.
EBITDA was up 39.8% yearly at Rs 1024.9 crore while net profit for the year was Rs 692.4 crore as comparedto Rs 3.1 crore in fiscal 2015. Dish TV added 508,000 net subscribers in the quarter, achieving its target of 1.5 million net subscribers in FY16. Whilea few states remained under the stay granted by respective high courts, there were others that witnessed a demand surge.
Jawahar Goel, chairman and managing director, Dish TV, said, "We had a well defined plan in place to target thesemarkets. Our campaign 'Set-Top-Box Matlab Dish TV' had the desired impact while the specially designed sports packs ensured that sports fans didn't go elsewhere during the cricket season. Higher investments behind the brand not only ensuredhigher brand scores but a stronger brand recall as well. To further strengthenour connect with the customer, we upgraded our existing service infrastructureand enhanced distribution in area that were not up to the mark. Thus covering newer territories."
The company took a price hike across mostof its packs in North and South India by around 4-8% with effect from March 22,2016. That said however, both Dish TV and the DTH sector in total have beenreeling under the pressure of an ever increasing Service Tax that they arestill not able to pass on to the subscriber. The company also added 8 new channels toits platform during the month of April 2016 taking its total offering size tomore than 525 channels and services.
The company took a price hike across mostof its packs in North and South India by around 4-8% with effect from March 22,2016. That said however, both Dish TV and the DTH sector in total have beenreeling under the pressure of an ever increasing Service Tax that they arestill not able to pass on to the subscriber. The company also added 8 new channels toits platform during the month of April 2016 taking its total offering size tomore than 525 channels and services.