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Dish TV India Limited reported second quarter fiscal 2011 standalone revenues of Rs 3286 million, representing a 27.4% growth over the corresponding period last fiscal. The EBITDA for the quarter stood at Rs 523 million, a growth of 102% over the corresponding period last fiscal. The net loss reduced to Rs 452 million, as compared to Rs 562 million in the corresponding quarter last fiscal.

The Board of Directors in its meeting held today, has approved and taken on record the un-audited standalone financial results of Dish TV for the quarter ended on September 30, 2010. The Board, in the same meeting, has also approved and taken on record the audited consolidated financial results of the company for the financial year ended on March 31, 2010.

The consolidated operating revenues for the financial year ended on March 31, 2010 were Rs 10.9 billion while the consolidated EBITDA for the year stood at Rs 1182 million and net loss stood at Rs 2622 million.

Mr. Subhash Chandra, Chairman, Dish TV India Limited, stated, “With 2.8 million subscribers added in the second quarter, the overall market for DTH in the country has already grown to more than 26 million households. In a strong six player market, incremental share over and above a secular number is laudable. Dish TV with an incremental market share of 27% continues to deliver industry leading performance.”

Dish TV crossed the momentous 8 million subscriber mark in the second quarter by adding 1 million new subscribers in less than six months of the current fiscal, 57% more than what it added during the same period last fiscal. Upbeat about the prospects for the year ahead, the management re-worked on its subscriber acquisition target for the current fiscal and guided an addition of at least 3 million subscribers during the whole of FY 2011. This year the overall industry is also expected to do significantly better in terms of subscriber acquisition as compared to the previous fiscal, with Dish TV maintaining its lead.