Press Releases2011

Oct 20, 2011
Dish TV India Limited declares its Q2 results for FY12

NOIDA, India; October 19, 2011 - Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) today reported second quarter fiscal 2012 revenues of Rs. 4,822 million, representing a 48% growth over the corresponding period last fiscal. EBITDA for the quarter stood at Rs. 1,218 million, compared to Rs. 503 million in the corresponding period last fiscal. EBITDA margin recorded at 25.3%. Foreign exchange loss hiked net loss by Rs. 304 million.

The Board of Directors in its meeting held today, has approved and taken on record the unaudited financial results of Dish TV for the quarter ended on September 30, 2011.


• Dish TV added 575 thousand new subscribers in the quarter ended September 30, 2011 achieving a total of 11.7 million gross and 9.2 million net subscribers at the end of the period.

• Total revenues for the second quarter stood at Rs. 4,822 million, recording a growth of 48% as compared to the corresponding period last fiscal.

• Subscription revenues for the second quarter stood at Rs. 4,124 million, recording a growth of 53% as compared to the corresponding period last fiscal.

• EBITDA at Rs. 1,218 million recorded a growth of 142% as compared to the corresponding period last fiscal. EBITDA margin for the second quarter stood at 25.3%.

• Net loss of Rs. 486 million negatively impacted by foreign exchange loss of Rs. 304 million.

Mr. Subhash Chandra, Chairman, Dish TV India Limited, said, "With the threat of another economic slowdown looming large over us, consumer activity in India seems to be slowing down in comparison to the healthy pace it had maintained all this while. Despite being fairly insulated, being the bread & butter of entertainment, DTH as a category was impacted by consumers' inertia to pay for discretionary spends. While the industry recorded lower acquisitions, both on a sequential and yearly basis, in the second quarter, Dish TV managed to efficiently maintain its leadership while reporting a steady increase in operating margins for the sixth consecutive quarter."

Mr. Jawahar Goel, Managing Director, Dish TV, said, "Dish TV has been the frontrunner of the Indian DTH industry since inception and has time and again demonstrated agility to adapt itself to a changing business environment. As challenging macro economic conditions prevail, we believe Dish TV remains well placed to capitalize on any resultant opportunities."

"The recent digitization mandate spells opportunity for the DTH industry to strengthen its foothold in traditional cable strongholds. As consumers choose between alternatives, we believe that Dish TV with its strong brand presence and service backup is likely to be one of the preferred choices of the television consumer," he added.

Commenting on the overall performance, Mr. Goel said, "In line with our expectations, Dish TV moved closer to attaining bottom line profitability but for the loss due to foreign exchange fluctuation. Subscription revenue recorded sustained sequential increase while EBITDA maintained its upward trend registering an increase of 8.6% compared to the immediately preceding quarter. Key operating metrics continued to be favorable, with ARPU registering encouraging improvement in a seasonally weak quarter. ARPU for HD subscribers was at a level of Rs. 454, pointing to a window of opportunity to scale up overall ARPU's going forward."

Targeting a seamless recharge experience for its subscribers and to fill in the opportunity gap between subscription packages, Dish TV recently introduced an all new 'World Pack' at Rs. 275/- per month. Strategically placed between existing packs, the 'World Pack' attempts to drive mid level subscribers to the next level.

With mandatory digitization likely to flow through urban consumers in the first two phases of implementation, High Definition (HD) activation is poised to be one of the key beneficiaries. Further to its ARPU enhancing initiatives and to optimize its satellite capacity, Dish TV also introduced the 'HD World Pack' at Rs. 375 per month. While existing HD packs, 'Premier' at Rs. 450 and HD 'Royale' at Rs. 550 target the top of the HD Pyramid, the newly introduced 'HD World Pack' is designed to attract entry level HD subscribers from the vast pool of such urban markets.

Dish TV India Limited continues to be the largest DTH Company in India and the whole of Asia Pacific and is ranked the third largest DTH platform in the World.

Financial Results and Earnings Release available on company's website

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