Dish TV India earlier this week declared the consolidated financial results for the quarter ending June 30 registering a net profit of Rs 74.5 crores. Dish TV’s subscription revenues stood at Rs 791.5 crores while the operating revenues stood at Rs 835.6 crores.
Results at a glance
- Operating revenues at Rs 835.6 crores
- Subscription revenues at Rs 791.5 crores
- PAT at Rs 74.5 crores
Dish TV India’s subscription revenues stood at Rs 791.5 crores in Q1 FY 21, up from Rs 776.6 crores in the preceding quarter. The operating revenue stood at Rs 835.6 crores in Q1 FY 21, down from Rs 869.1 crores in the preceding quarter. Dish TV’s EBIDTA stood at Rs 551.4 crores with a 66% margin. Dish TV’s profit stood at Rs 74.5 crores in Q1 FY 21, up from Rs 145.62 crores net loss in the previous quarter due to impairment.
Dish TV’s advertising revenue came down due to COVID-19 from Rs 12.1 crores in the previous quarter to Rs 3.1 crores in Q1 FY 21. Dish TV’s additional marketing, promotional fee and bandwidth charge also took a hit coming down from Rs 30.2 crore in the preceding quarter to Rs 23.1 crore in Q1 FY 21.
Mr. Anil Dua, Group CEO, Dish TV India Limited, said, “We believe that subscribers who download ‘Watcho’ are generally stickier on the DTH platform than those who haven’t tried the app yet. From just a million plus subscribers in January 2020, Watcho crossed the 10 million+ members mark in August this year and we hope to double this number very soon. Our plan to make ‘Watcho’ a platform offering multi-lingual content should certainly help boost the count.”
Mr. Anil Dua, said, “We intensified our online subscriber engagement campaigns during the quarter while also continuing to keep costs under check in these uncertain times. I am glad that we could achieve a 2.9% Y-o-Y growth in EBITDA despite a challenging environment. I am thankful to every employee at Dish TV India for rising to the occasion and delivering their best. I would also like to thank our business partners, distributors and service associates for seamlessly adopting and implementing the new COVID-19 driven SOPs in the shortest possible time.”
Mr. Jawahar Goel, CMD, Dish TV India Limited, said, “With extreme unpredictability all around, we are more cautious than ever before. Expecting lack of consumer confidence, we are ready with leaner more value driven packs that should come in handy to take-on the free platform as well. We however expect the consumer sentiment to be more upbeat with the commencement of the cricketing season at the end of the second quarter and remain at elevated levels all through the traditionally strong third quarter.”