Direct-to-home company Dish TV posts Rs 64.5 cr net profit for Sept quarter

Direct-to-home company DishTV India Ltd on Thursday reported a consolidated net profit of Rs 64.51 crore for the second quarter ended September 30.

The company had reported a net loss of Rs 96.37 crore in the July-September quarter a year ago, Dish TV said in a BSE filing.

Its revenue from operations during July-September 2020 fell 5.24 per cent to Rs 846.36 crore, compared with Rs 893.18 crore in the year-ago period.

DishTV India Group CEO Anil Dua said, "Our performance during the quarter was in line with our larger strategic decisions such as disciplined acquisition and sensible capital investment. Lower overall revenues were more than offset by our expense management measures."

Its subscription revenue stood at Rs 765.7 crore, down 3.32 per cent as against Rs 792 crore a year ago.

"In the absence of fresh television content from pay entertainment broadcasters, subscribers remained picky in channel selection," said DishTV in a post-earnings statement.

Its advertisement income was Rs 8.3 crore, down 76.61 per cent as against Rs 35.5 crore in the corresponding quarter a year ago.

However, revenue from 'additional marketing, promotional fee and bandwidth charges' rose 44.50 per cent to Rs 50 crore as against Rs 34.6 crore.

"We continue to be cautious yet agile, listening to market and customer voices.

"As we tread through these never-seen-before times, we remain committed to leveraging our strengths and overcoming our shortcomings to keep DishTV India strong, relevant and profitable," Dua said.

DishTV's total expenses were at Rs 766.55 crore as against Rs 897.67 crore a year ago, down 14.60 per cent.

Shares of DishTV India Ltd on Thursday settled at Rs 11.50 on the BSE, down 2.04 per cent from the previous close.