Press Releases2015Oct 28, 2015
Dish TV India Limited declares results for the quarter ended September 30, 2015
NOIDA, India; October 27, 2015 - Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) today reported second quarter fiscal 2016 consolidated operating revenues of Rs. 7,524 million, up 15.8% Y-o-Y and subscription revenues of Rs. 6,926 million, up 16.5% Y-o-Y. EBITDA for the quarter stood at Rs. 2,550 million compared to Rs. 1,619 million in the corresponding quarter last fiscal. EBITDA margin recorded at 33.9% compared to 24.9% in the corresponding quarter last fiscal. Profit after Tax (PAT) for the quarter was Rs. 870 million compared to a loss of Rs. 142 million in the corresponding quarter last fiscal.« Back
The strong showing in revenue growth was despite the full quarter impact of the increase in service tax from 12.36% to 14% with effect from June 1, 2015. Excluding such impact, the revenue growth would have been even higher at 17.7% for operating revenues and 18.4% for subscription revenues. Excluding the impact of service tax increase, ARPU for the quarter would have stood at Rs. 174 as against Rs.171 reported.
The Board of Directors in its meeting held today, has approved and taken on record the unaudited consolidated results of Dish TV for the quarter ended on September 30, 2015.
Dr. Subhash Chandra, Chairman, Dish TV India Limited, said, "Improving business environment along with rising economic prospects have put India on a stronger wicket compared to other parts of the world today. In the background of growing positive global opinion about our economic capabilities, I see India having crossed the inflection point to take the next big leap."
"Being uniquely positioned to leverage a growing digital India, the DTH industry in the country too seems all set to touch new heights," he added.
Speaking about Dish TV's quarterly results, Dr. Chandra said, "Dish TV further reinforced its leadership position during the quarter. The company, while being at the forefront of the DTH industry in India, reached out to television viewers with innovative products that promise to enhance their television viewing experience. Dish TV's improving financial strength coupled with its passion to be ahead of the curve, should be an advantage to further enhance its presence in the vast and still untapped analog and free-to-air television markets in the country."
Dish TV has been a category leader and has been a serial innovator in the space. With many firsts to its credit, the company during the second quarter launched India's first push video-on-demand service, DishFlix.
The new service, DishFlix, is a unique offering for Indian DTH subscribers and enables them to watch advertisement free movies and TV shows at the click of a button. At an incremental monthly subscription of just Rs. 100, Dish TV subscribers can now flip through an offering of more than 50 movies and shows with an ability to pause, play, fast forward and rewind the content of their choice. Unlike the current trend of using data for downloading and streaming movies from the internet, DishFlix does not require internet bandwidth to play movies.
The product has had an encouraging response so far and is on track to carve out a niche market for itself.
Mr. Jawahar Goel, Managing Director, Dish TV, said, "Dish TV continued to actively contribute to the 'Digital India' movement by digitizing analog TV homes in DAS phase 3 & 4 markets. A unique product mix and a strong brand recall enabled us to add a healthy 338 thousand net subscribers in a seasonally weak quarter. Our regional offering 'Zing' is now available across 8 states and continues to be in high demand in its target markets."
Dish TV high-definition (HD) remained a star performer during the quarter. Its channel count stood out distinctly compared to other HD products in the market. Dish TV added 6 new HD channels during the quarter taking the total HD channel count on its platform to 48, the highest in the industry.
Discussing Dish TV's second quarter results, Mr. Goel said, "Sticking to our guiding principle of growth with profitability, we enhanced operational efficiencies in the business and are pleased with an all-time high EBITDA margin of 33.9% recorded during the quarter. We were positive at the net level as well and had a free cash flow of Rs. 849 million. As we move ahead, we stay convinced about our pole position being related to our value for money offering and intend to constantly work on it for long term sustainable growth."