Press Releases2014Jul 23, 2014
Dish TV India Limited declares results for the quarter ended June 30, 2014
NOIDA, India; July 22, 2014 - Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) today reported first quarter fiscal 2015 standalone subscription revenues and total operating revenues of Rs. 5,886 million and Rs. 6,407 million respectively. EBITDA for the quarter was Rs. 1,571 million while Net Loss recorded was Rs. 160 million.« Back
The Board of Directors in its meeting held today, has approved and taken on record the unaudited standalone results of Dish TV for the quarter ended on June 30, 2014.
Dr. Subhash Chandra, Chairman, Dish TV India Limited, said, “Sound of the economic growth engine chugging is music for the media and entertainment industry. With consumer confidence gaining traction, efforts towards attaining an environment of moderate inflation will go a long way in boosting consumption demand further. In fact, a new sense of buoyancy thrives already and consumer centric businesses can be potential game-changers in the years ahead.”
“Going by the first quarter run-rate, the Indian DTH industry seems to have set ground for a 25% growth in subscriber additions this year. Factoring in the opportunities ahead Dish TV is optimistic about outgrowing the industry growth rate. The company delivered in line with expectations during the first quarter and reclaimed its position as the fastest growing DTH player in the country,” he added.
Mr. Jawahar Goel, Managing Director, Dish TV, said, “Post a mediocre 2014, fiscal 2015 had a promising start for the DTH industry. Dish TV, supported by a debt light balance sheet and a more willing consumer market, put the pedal to the metal and led the industry growth by garnering the highest incremental share during the quarter.”
“We continued to expand 'Zing', our innovative offering for vernacular content across regional markets. The 'Zing' service is now available across Odisha, West Bengal, Tripura, parts of Assam and most parts of Maharashtra. A powerful sub-brand, 'Zing' has also propelled the sales of the main brand through a wider reach and top of the mind recall. Moving closer towards Phase 3 and 4 of digitization we remain optimistic about our strategy to capture leading share in these markets,” he added.
“In line with our objective of growth with profitability, we took a price hike of 5-7% across the middle and top level packs with effect from the first week of June. ARPU increased to Rs. 170 per month in the first quarter with churn also increasing marginally to reach 0.7% per month. There have been efforts to implement last mile billing by the MSO's however, a full-fledged roll-out is key to a step jump in ARPU's across the category,” said Mr. Goel.
“Though the Union Budget announced this month was a non-event for the industry at large, we would continue to push our case for allowance of abatement in Service Tax along with moderation in Entertainment Tax till the Goods and Services Tax Act (GST) sees the light of the day. We are also hopeful of an early resolution of the DTH license renewal and payment of license fees matter in the industry's favour. We also expect a firm push to digitization and are confident that encryption, packaging, billing and other critical requirements will be implemented at the last mile,” he added.