Dish TV India reports Rs 2.8 crore net loss in Q3 FY24

Direct-to-home (DTH) operator Dish TV Ltd announced a net loss of Rs 2.8 crore for the third quarter ending December 31, 2023. This marks a slight improvement from the Rs 2.9 crore net loss reported in the corresponding period the previous year, as revealed in the company’s regulatory filing.

The financial statement disclosed a significant decline in revenue from operations, plummeting by 14.8% to Rs 470.3 crore compared to Rs 552.1 crore recorded in the same period of the preceding fiscal year. Operating at a reduced capacity, the EBITDA (earnings before interest, tax, depreciation, and amortisation) witnessed a sharp decline of 31%, settling at Rs 180.5 crore this fiscal quarter compared to Rs 261.6 crore in the corresponding period last year.

Notably, the EBITDA margin registered a stark decrease, standing at 28.4% in the reporting quarter, down from 47.4% in the same period of the previous fiscal year. Dish TV attributed this decline to various operational challenges and market dynamics.

While the total expenses for the third quarter decreased to Rs 471.82 crore from Rs 567.16 crore in the previous year’s equivalent period, the company highlighted persistent hurdles in subscriber retention. Dish TV India disclosed that despite continued efforts to gain incremental subscriber market share, high churn rates led to negative net additions during the quarter. 

CEO Manoj Dobhal acknowledged the challenges, stating, “Our new subscriber additions during the quarter were impressive, not only because the numbers were strong but also because none of those added were lured with unsustainable offers and promotions.” Dobhal further emphasized the need for sustainable growth strategies amidst competitive pressures and shifting consumer preferences.