Press Releases2010May 12, 2010
DishTV's declares impressive 4Q FY10 results
Dish TV India Limited (Dishtv) has reported fourth quarter fiscal '10 consolidated revenues of Rs.3 billion, representing a 46 % growth over the corresponding period last fiscal.
Operating revenue for fiscal 2010 stood at Rs. 10.9 billion, up by a strong 48 % on a YoY basis. EBITDA for the period stood at Rs. 915 million, up 148% YoY.
The Board of Directors in its meeting held today, has approved and taken on record the un-audited financial results of Dish TV for the quarter and year ended on March 31, 2010.
Mr. Subhash Chandra, Chairman, Dish TV, stated, Digitization of television services in India maintained a healthy pace, with over 8 million houses adopting pay satellite services during the fiscal. Our belief is that, pay satellite will continue to lead the digitization drive in the country and Dish TV's inherent brand strength would ensure that it takes a lion's share of this growth. Dish TV's performance demonstrates the underlying strength of its subscription business and the companies' ability to manage costs effectively, both of which have led to positive operating profits for the fiscal.
Commenting on the financial performance, Mr. Chandra said, An innovative business approach with an eye on operational efficiencies has resulted in Dish TV delivering encouraging numbers and the company crossing the ten billion rupee mark in revenues this year. With the DTH industry in India witnessing unprecedented growth, the year ahead promises to be even better for Dish TV.
Mr. Jawahar Goel, Managing Director, Dish TV, said, Our results reflect the strength of an integrated business model. Dish TV has been steadily targeting break-even at the operational level. Game changing innovations for subscriber acquisition and brand building along with focus on customer satisfaction have helped us continue as the largest DTH player in the India.
Dish TV has maintained its leadership position across key operating parameters such as subscriber acquisition and brand loyalty. In sync with its lineage of being a trend-setter, Dish TV ventured into unexplored territories to further build on its leadership in the pay DTH market. Amongst various other ground-breaking initiatives, the company introduced live television entertainment on selected trains in India thus taking the Indian DTH industry to the next level of entertainment, he added.
Tapping into the low internet penetration levels in India and sensing upside in terms of significant revenue potential, Dish TV tied up with 'Yatra.com', 'Monster.com' and 'Shaadi.com' to provide internet based services through DTH television. Four of our distinct Value Added Services 'ICICI Active', 'Monster Jobs Active', 'Shaadi Active' and 'Travel Active' won a Special Award at the AFDESI International iTV Awards. This is for the first time that an Indian DTH company has been recognized for its role in the interactive television industry.
A significant sports calendar in the coming fiscal, which includes the Twenty-20 Cricket World Cup, FIFA Soccer World Cup and ICC Cricket World Cup interspersed with Champions League Cricket and Common Wealth Games, is expected to offer a significant incremental opportunity for the DTH operators and Dish TV is well positioned to monetize these events. To this effect 'World Cup Se World Cup Tak' offer was launched during the quarter, wherein all the sports channels were clubbed into the 'Gold Pack' for non-stop sports action.