All Rights Reserved Finance News 2020.
Dish TV Q1 outcomes: Posts net profit of Rs 75 crore
NEW DELHI: Direct-to-home firm Dish TV India Ltd on Wednesday reported a consolidated net profit of Rs 74.54 crore for the quarter ended June.
It had posted a net loss of Rs 35.44 crore within the April-June interval a yr in the past, Dish TV mentioned in a BSE submitting.
Income from operations slipped 9.79 per cent to Rs 835.58 crore in the course of the quarter beneath overview from Rs 926.30 crore earlier.
“In contrast to the preliminary section of the lockdown, revenues in the course of the quarter had been impacted on account of the next total churn. As well as, the Y-o-Y decline in revenues was additionally on account of a excessive base impact contemplating the a lot of cricket and normal elections associated protection on tv in the course of the first quarter of final yr,” Dish TV mentioned in a post-earnings assertion.
Whole bills stood at Rs 747.87 crore as in comparison with Rs 899.95 crore earlier, down 16.89 per cent.
Subscription income was at Rs 791.5 crore, down 4.18 per cent from Rs 82.61 crore in Q1 FY2019-20.
“Renewals and recharges utilizing digital mediums constituted bulk of the subscriptions acquired by the corporate. Unified Funds Interface (UPI) and e-wallets witnessed additional development of their recognition in the course of the quarter, changing into the popular digital fee mode for subscribers,” it added.
Nevertheless, commercial revenue plunged 84.26 per cent to Rs 3.1 crore, as in comparison with Rs 19.7 crore earlier.
The corporate mentioned its OTT platform Watcho not solely leveraged its stock of indigenous net collection to launch a number of new originals but additionally established itself as an vital connection between the DTH platform and its subscribers.
Dish TV Group CEO Anil Dua mentioned, “We imagine that subscribers who obtain ‘Watcho’ are typically stickier on the DTH platform than those that have not tried the app but. From simply one million plus subscribers in January 2020, Watcho crossed the 10 million+ members mark in August this yr and we hope to double this quantity very quickly.”
On the outlook, Dish TV India CMD Jawahar Goel mentioned with excessive unpredictability throughout, it’s extra cautious than ever earlier than.
“Anticipating lack of client confidence, we’re prepared with leaner extra worth pushed packs that ought to come in useful to take-on the free platform as effectively.
“We nonetheless count on the buyer sentiment to be extra upbeat with the graduation of the cricketing season on the finish of the second quarter and stay at elevated ranges all by the historically robust third quarter,” he mentioned.
Shares of DishTV India Ltd closed at Rs 10.94 on BSE, up 3.89 per cent.