Dish TV Q3 net loss at Rs 43 cr
The company had posted a net loss of Rs 44.28 crore for the October-December quarter last year, Dish TV said in a statement, adding that revenues stood at Rs 373.16 crore during the period.
"Despite a challenging macroeconomic environment and resultant price sensitivity, subscriber additions across the DTH industry have been encouraging. With digitalisation expected to boost subscriber additions, Dish TV is well-entrenched to further build on its supremacy while also targeting larger uptake of ARPU accretive HD subscribers," Dish TV India Chairman Subhash Chandra said.
The company said its results were negatively impacted by a foreign exchange loss of Rs 15.6 crore.
"Due to a further 8 per cent depreciation of the rupee against the US dollar in this quarter, there is an additional foreign exchange loss of Rs 156 million. The foremost reason for this loss is significant foreign currency debt, which needs to be reported using the closing exchange rate," Dish TV Managing Director Jawahar Goel said.
Dish TV added 740,000 new subscribers during the quarter ended December 31, 2011, achieving a total of 12.5 million gross and 9.5 million net subscribers at the end of the period.
"As the world at large continues to stare economic uncertainty in the face, India remains cautiously optimistic, but vulnerable to the risks associated with a slowing global economy," Dish TV India
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