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MUMBAI: Videocon d2h, the direct-to-home (DTH) arm of Videocon Group, has turned profitable at the net level for the first time. After Dish TV, this is the second Indian DTH company to be PAT positive.
Videocon d2h posted net profit of Rs 2.7 crore (Rs 27 million) in the fiscal first quarter compared to a net loss of Rs 24.4 crore (Rs 244 million) a year ago.
TelevisionPost.com had earlier reported that Videocon d2h has the potential of turning profitable at the net level in the first quarter of FY17.
The Nasdaq-listed company’s adjusted EBITDA for the quarter ended 30 June 2016 stood at Rs 252 crore (Rs 2.52 billion), reporting a growth of 32.4% over the year-ago period. Adjusted EBITDA margin expanded 210 basis points year-on-year to 30.8% during the quarter.
“The first quarter of fiscal 2017 has been a landmark quarter for our company. In this quarter, we have had a positive profit after tax and achieved free cash flow breakeven. This is a great achievement,” said Videocon d2h executive chairman Saurabh Dhoot.
Revenue from operations grew 23.5% to Rs 819 crore (Rs 8.19 billion). Subscription and activation revenue grew 23.9% to Rs 752 crore (Rs 7.52 billion).
Content cost came in at 36.1% of revenue as compared to 37% of revenue a year ago.
Averag revenue per user (ARPU) grew by 6.8% year-on-year to Rs 219. Subscriber growth Videocon d2h added 0.60 million gross subscribers and 0.43 million net subscribers during the first quarter of fiscal 2017.
Net subscribers totaled 12.29 million as of 30 June 2016.
Read more at: Videocon d2 turns profitable at net level in Q1 | TelevisionPost.com
Videocon d2h posted net profit of Rs 2.7 crore (Rs 27 million) in the fiscal first quarter compared to a net loss of Rs 24.4 crore (Rs 244 million) a year ago.
TelevisionPost.com had earlier reported that Videocon d2h has the potential of turning profitable at the net level in the first quarter of FY17.
The Nasdaq-listed company’s adjusted EBITDA for the quarter ended 30 June 2016 stood at Rs 252 crore (Rs 2.52 billion), reporting a growth of 32.4% over the year-ago period. Adjusted EBITDA margin expanded 210 basis points year-on-year to 30.8% during the quarter.
“The first quarter of fiscal 2017 has been a landmark quarter for our company. In this quarter, we have had a positive profit after tax and achieved free cash flow breakeven. This is a great achievement,” said Videocon d2h executive chairman Saurabh Dhoot.
Revenue from operations grew 23.5% to Rs 819 crore (Rs 8.19 billion). Subscription and activation revenue grew 23.9% to Rs 752 crore (Rs 7.52 billion).
Content cost came in at 36.1% of revenue as compared to 37% of revenue a year ago.
Averag revenue per user (ARPU) grew by 6.8% year-on-year to Rs 219. Subscriber growth Videocon d2h added 0.60 million gross subscribers and 0.43 million net subscribers during the first quarter of fiscal 2017.
Net subscribers totaled 12.29 million as of 30 June 2016.
Read more at: Videocon d2 turns profitable at net level in Q1 | TelevisionPost.com
