Dish TV Q1 standalone loss lowers to Rs 30 crore

Zee group firm's Direct-to-home services provider Dish TV today reported narrowing down of its standalone net loss in the first quarter ended June 30, 2013 at Rs 30.37 crore.

 

The company had posted a standalone net loss of Rs 32.32 crore for the same period last fiscal year.

 

Standalone income from its operation also increased to Rs 576.49 crore in the April-June quarter, compared to Rs 519.95 crore in the same period of the previous financial year.

 

Commenting on the performance, Dish TV Managing Director Jawahar Goel said, "In line with our expectations, pack price hikes and improved subscriber quality in the recent months resulted in a strengthened ARPU (average revenue per user)."

 

ARPU for the quarter increased 5.1% to Rs 165, resulting in a increase in subscription revenues, he added.

 

Subscription revenues for the quarter stood at Rs 528 crore, recording a 15.9% year-on-year growth, Dish TV said.

 

"On the expenses front, higher investment in marketing, brand building and seasonal sports driven content along with the impact of a weak rupee on dollar denominated costs, resulted in a sequentially flat EBITDA margin," he added.

 

Dish TV said that "company's net-worth as at June 30, 2013 is eroded by its accumulated losses".

 

It has, however, adequate resources in the form of operating cash flows, sanctioned credit facilities from lenders and bank deposits to adequately meet its obligations, it said.

 

The company's shares were trading at Rs 54.30 per scrip during the afternoon trade, down 4.82% from its previous close, on the BSE.