Dish TV reports Q3 FY10 results

January 23, 2010

Source: MM Network

By: Media Mughals

Dish TV India Limited, India’s first and leading DTH service provider has reported its unaudited financial results for the third quarter of fiscal 2010 ended 31 December 2009.

During the quarter the Company has managed Gross sales and operating revenues of Rs. 2,786 million as compared to Rs. 1,929 million in the corresponding period last fiscal. This represents a 44% growth.

The consolidated EBITDA for the third quarter stood at Rs 117 million against Rs 389 million EBITDA loss incurred during the corresponding period last fiscal.

Mr. Subhash Chandra, Chairman, Dish TV, says in a prepared press statement, “The DTH segment in India continues to grow at a rapid pace. While 2.4 million new subscribers have opted for DTH during this quarter, more than 6.5 million new subscribers have taken DTH service in the nine months ending December 2009. I am happy to report that DishTV continues to maintain leadership position in this category.”

The DTH Company raised US $100 million through issue of GDRs. These funds would be utilized towards expanding the subscriber base of Dish TV.

Mr. Jawahar Goel, Managing Director, DishTV, commented, “Continued robust demand for our service fueled a 44% growth in revenues over the corresponding period last year. DishTV added 0.55 new subscribers during the quarter and has 35% market share in the Indian DTH market. We are investing for the future and executing operational efficiencies with the goal of driving long-term, profitable growth.”

DishTV added 0.55 million subscribers during the quarter and average subscriber acquisition cost was Rs 2,477.

During the quarter Dish TV revamped it branding image from Wish Karo, Dish Karo’ to “Ghar Aayi Zindagi” (Bring Home Life) that has been designed to have more emotional connect with the users of the service.

For the future course expects the DTH industry to grow more than 50% in the next 3 years. “The company would continue to focus on increasing ARPU, value added services, commercial sales (e.g. hotels, restaurants, pubs, clubs, malls etc), brand building and penetration, service capability ramp up resulting in value creation for the stakeholders,” says the Dish TV in a press statement.