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.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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