Dish TV posts Q1 net profit of Rs 54.21 crore

The Essel Group firm had posted a consolidated net loss of Rs 14.97 crore for the corresponding quarter last fiscal.

Dish TV posts Q1 net profit of Rs 54.21 crore

New Delhi: Direct-to-Home operator Dish TV India on Tuesday posted a consolidated net profit of Rs 54.21 crore for first quarter of the fiscal driven by the success of its regional offering Zing and value driven HD channels.

The Essel Group firm had posted a consolidated net loss of Rs 14.97 crore for the corresponding quarter last fiscal.

Dish TV's total income from operations on consolidated basis was up 19.19 percent during the quarter under review to Rs 736.68 crore as against Rs 618.04 crore of Q1 of FY 2014-15, the company said in a statement.

"Zing contributed around 22 percent of our total sales and HD channels 20 percent. Zing is the acquiring new markets for us in DAS Phase 3 & 4 markets. It helped us in increasing in volumes and revenue growth," Dish TV CEO R C Venkateish told PTI.

Moreover, Dish TV's average revenue per user (ARPU) has been increased to Rs 180 during the first quarter, he added.

"We have continued to be profitable in the second quarter," he said. Last quarter (Q4FY2014-15), Dish TV had come into the black for the first time in 11 years of existence.

During the April-June quarter Dish TV added 3,90,000 subscribers. Presently, it has a subscriber base of 13.1 million, Venkateish said.

On overseas operation of Dish TV, Venkateish said: "We have just started in Sri Lanka. Let us consolidate there."

Commenting on the performance Dish TV Managing Director Jawahar Goel said: "Our first quarter results are in line with the success of our regional and high definition (HD)strategy."

He further added that Zing cemented Dish TV's supremacy in the DAS Phase 3 & 4 markets with custom made content, hardware and service packages for the regional audience.

"It would soon be launched in Kerala and would carry the largest cache of vernacular channels offered in that market," Goel added.

Dish TV Chairman Subhash Chandra said: "The impending DAS Phase 3 & 4 markets have an 80 million household potential, a large part of which is expected to be lapped up by the prominent DTH players in the country."

"It (Dish TV) has been at the forefront when it comes to gaining incremental subscribers in the highly competitive DTH industry in India," he said.

During the quarter, Dish TV has transferred its non-core business which includes set-top boxes, dish antenna and related services to its wholly-owned subsidiary Dish Infra Services Private Ltd on a going concern basis.

Shares of Dish TV on Tuesday settled at Rs 112.90 at BSE, down 4.12 percent from its previous close.

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