Dish TV India

Dish TV India on Tuesday reported a consolidated net loss of Rs 1.56 crore for June quarter 2024-25 impacted by a decline in subscription revenue. The direct-to-home firm had reported a net profit of Rs 20.54 crore in April-June FY24, according to a regulatory filing from Dish TV. Revenue from operation was down to Rs 455.29 crore from Rs 500.16 crore. Total expenses declined 2.71 per cent to Rs 462.56 crore. The expenses include cost of goods and services, personnel cost and other expenses. In the June quarter, Dish TV's subscription revenues were at Rs 306.2 crore as against Rs 397.4 crore in the corresponding period a year ago. However, advertising revenue was up 7.2 per cent to Rs 9.7 crore in the June quarter. Income from marketing and promotional fees also went up by 59.2 per cent to Rs 130.7 crore in the June quarter. Operating revenue was also lower at Rs 455.3 crore as against Rs 500.2 crore a year ago. Dish TV's operating revenue includes subscription revenues, marke

Direct-to-Home operator Dish TV India on Friday reported a marginal narrowing of consolidated net loss at Rs 2.83 crore in the third quarter ended December 23, 2023. The company had posted a consolidated net loss of Rs 2.85 crore in the same quarter last fiscal, Dish TV said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 470.27 crore as against Rs 552.09 crore in the year-ago quarter, it added. Total expenses in the third quarter were lower at Rs 471.82 crore as compared to Rs 567.16 crore in the same period a year ago. Dish TV India said it continued to gain incremental subscriber market share during the third quarter. However, due to subscribers shifting between platforms churn rates remained high thus resulting in overall negative net additions during the quarter, it added. "Our new subscriber additions during the quarter were impressive, not only because the numbers were strong but also because none of those added were

In a surprise development, shareholders of Dish TV rejected the candidature of four independent directors in the Extraordinary General Meeting held last week, leaving only one person on the board of the direct-to-home service provider. This prompted immediate appointment of two new persons on the board the same day, as the number of directors fell below the statutory minimum number of three. In the EGM held on December 22, shareholders of Dish TV shot down the four resolutions seeking the appointment and re-appointments of independent directors Shankar Aggarwal, Aanchal David, Rajesh Sahni and Virender Kumar Tagra. However, these resolutions could get only around 28 per cent of the total votes polled, and hence were rejected. "The Resolution Nos 1 to 4 have failed to receive a requisite number of votes in favour by the shareholders under remote e-voting and e-voting at EGM," said the scrutinizer's report submitted to bourses by Dish TV. After the voting results, which were declare

Dish TV India, a direct-to-home broadcaster, is facing intense competition from OTTs and cable TV

Media tycoon Subhash Chandra's family lost control of Dish TV after promoter entities defaulted on loans

The company's minority shareholders are demanding a rejig of the company's board and the appointment of a new management team to put the DTH provider back on the profitability path

Dish TV on Tuesday proposed to appoint Manoj Dobhal as the new CEO of the company as incumbent Anil Dua has decided to quit the direct-to-home company. Dobhal is the current Chief Operating Officer (COO) of the company. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel over board representation in the company. The company is unable to pass its annual statements from the last two years and get approval from shareholders over the appointment of directors, leaving certain positions vacant. Leading stock exchanges BSE and NSE have fined Rs 10,000 each to the direct-to-home operator Dish TV over non-compliance over the composition of the board, Dish TV said in a regulatory filing. "BSE Ltd and NSE Ltd had issued communications dated May 22, 2023, to the Company, pertaining to Non-compliance with the requirements pertaining to the composition of the Board' for the quarter ended March 31

Lenders in talks with rivals to sell stake after the board is reconstituted

Direct-to-home firm Dish TV India Ltd has reported a consolidated net loss of Rs 1,720.62 crore for the fourth quarter that ended on March 31, 2023, mainly on account of impairments and deferred tax liability. The company had reported a net loss of Rs 2,031.99 crore in the January-March quarter a year ago, Dish TV said in a BSE filing. Its revenue from the operation was down 21.45 per cent to Rs 504.82 crore during the quarter under review as against Rs 642.70 crore of the corresponding quarter. In the March quarter, Dish TV's loss before exceptional items and tax was at Rs 233.73 crore. Its losses under exceptional items were at Rs 1,907.61 crore. During the quarter, Dish TV has to go for impairment of Rs 280 crore for assets under development, Rs 110.5 crore for brand, Rs 567.87 crore for customer and distribution relationship and Rs 328 crore for property, plant and equipment. Besides it had also an impairment of goodwill of Rs 621.09 crore of its Goodwill and Intangible asset

Direct-to-Home operator Dish TV on Friday announced the appointment of former bureaucrat Zohra Chatterji as its independent Director. Besides, it has also sent four names to the Ministry of Information and Broadcasting to obtain its prior approval for placing them on the board as directors, as required under the Up-linking Guidelines. This is the first appointment after March 3, when the shareholders of Dish TV rejected special resolutions seeking their approval for the appointment of four new independent directors. The persons are - Rajesh Sahni, Virender Tagra, Girish Srikrishna Paranjpe and Arvind Nachaya Mapangada. Chatterji, who belongs to the 1979 Batch of the IAS of Uttar Pradesh Cadre, retired as Secretary of the Ministry of Textiles in 2014. Dish TV's largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel are engaged in a legal battle over the board representation. After being voted out, Dish Tv's four independent direc

Adoption of FY21 and FY22 financial statements and new statutory auditors not accepted at AGM

Yes Bank, which holds 25% in Dish TV, has been pushing for a board revamp, including removal of Goel, Narang and others

The stock touched an intra-day high of Rs 14.46 apiece on the BSE, closing trade at Rs 14.24 a share, up 19 per cent over the previous day's close

As of now, YES Bank owns 24.7 per cent stake in Dish TV while the former promoters own 5.9 per cent stake

Rejection of resolutions on remunerations rises; investors becoming more discerning, say experts

Goel's ouster from Dish TV board will require another resolution

Appointment of R C Venkateish as independent director also turned down; proxy advisory firm says company will have to appoint interim CEO

A bench led by Justice GS Patel and Justice MJ Jamdar said World Crest Advisors, Dish TV promoter group entity, had not made any case in its plea against YES Bank, and was dismissing the appeal

Direct-to-home firm Dish TV India reported widening of its consolidated net loss to Rs 2,031.99 cr for Q4 Direct-to-home firm Dish TV India reported widening of its consolidated net loss to Rs 2,031.9

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