The DTH operator has reported Rs 644.5 crore subscription for the quarter
Direct-to-home (DTH) operator Dish TV India has reported a 45.1% decline in profit at Rs 35.4 crore for the second quarter of the financial year 2021-22 (FY22). It was Rs 65.4 crore in the corresponding quarter last year. The consolidated subscription revenue has fallen 15.8% to Rs 644.5 crore for the quarter as against Rs 765.7 crore in the same quarter a year ago. Moreover, the company has witnessed a 15.1% decline in operating revenues at Rs 718.1 crore, compared to Rs 846.4 crore in the second quarter of the financial year 2020-21 (FY21). However, its advertising income has risen to Rs 11.6 crore from Rs 8.3 crore in the corresponding quarter of FY21.
“The Board of Directors in its meeting held today has approved and taken on record the unaudited consolidated financial results of Dish TV India Limited and its subsidiaries for the quarter ended September 30, 2021,” the company said in a statement.
The company has claimed to add six lakh subscribers at the gross level. However, it has not been able to add any subscribers at the net level. It has cited prioritising repayment of debt over adding fresh subscribers as the reason for negative additions. The company repaid debt of Rs. 69.7 crore during the quarter to arrive at a closing debt of Rs. 556.6 crore, the statement added.
“We continue to remain focused in our efforts to drive business performance using tools that enhance the viewing experience of subscribers on both, the traditional as well as the OTT offering. We remain sensitive to changing consumer needs and look forward to new launches and a wider audience base,” Anil Dua, group CEO, Dish TV India Limited, said.
Dish TV has reported Rs 291.2 crore total expenses for the quarter, 40.5% of revenue. The total expenses of the company have fallen by 9.3% from Rs 321.1 crore in Q2 FY21.