Dish TV Q2 net loss widens on higher expenses, forex loss

25832 Investors following Dish TV India. Share this News with them.

0

Like this story, share it with millions of investors on M3

Dish TV Q2 net loss widens on higher expenses, forex loss

Dish TV has announced its second quarter results. The company's Q2 net loss was at Rs 49 crore versus loss of Rs 45 crore, year-on-year, YoY.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ News and Notices about Dish TV India See interviews with Dish TV India Management See what other Experts & Brokerages are saying about Dish TV India See previous Results of Dish TV India Dish TV India BSE | NSE 31/05/12 Are Mutual Funds betting on Dish TV India?

Moneycontrol Bureau

Direct-to-home (DTH) service provider Dish TV  India's second quarter net loss widened to Rs 48.6 crore from Rs 45.2 crore in the year ago quarter due to higher expenses and a foreign exchange loss.

Revenue for the second quarter was up 48% from a year ago at Rs 482.3 crore, Dish TV said Wednesday.

The company said second quarter earnings were negatively impacted by foreign exchange loss of Rs 30.4 crore.

"In line with our expectations, Dish TV moved closer to attaining bottom line profitability but for the loss due to foreign exchange fluctuation," MD Jawahar Goel said.

Dish TV's total expenses during the quarter were up 32% year-on-year at Rs 476.63 crore.

EBITDA (earnings before interest, taxes, depreciation and amortization) for July-September more than doubled to Rs 121.8 crore, Dish TV said. EBITDA margin was at 25.3%, it said.

Its subscription revenue for the second quarter was up 53% year-on-year at Rs 412.4 crore.

Dish TV said it added 5.75 lakh subscribers in July-September, compared with 7.25 lakh subscribers it had added in April-June. It had 91.95 lakh net subscriber base as of September 30.

"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," said Chairman Subhash Chandra.

Dish TV's average revenue per subscriber was at Rs 152 in July-September. ARPU of subscribers opting for HD (high definition) service was at Rs 454, the company said.

It sees opportunity to scale up overall ARPUs going forward, Dish TV said.

Dish TV shares closed up 1% at Rs 77.60 on NSE on Wednesday.

Nachiket Kelkar
nachiket.kelkar@network18online.com