Dish TV Q2 net loss at Rs 16 cr

Direct-to-Home service provider Dish TV today reported standalone net loss of Rs 16 crore for its second quarter ended September 30, due to increase in expenses.

The Zee group firm had reported net profit of Rs 55.09 crore in the July-September quarter of last fiscal on the back of exceptional income of Rs 76.43 crore.

Dish TV logged net sales of Rs 589.68 crore during Q2, 2013-14, up 10.57% compared to Rs 533.27 in the same period last fiscal, the company said in a BSE filing.

Overall expenses during the quarter were at Rs 595.13 crore, an increase of 12.02% as against Rs 531.27 crore in the same quarter last year.

Dish TV Managing Director Jawahar Goel said: "We are on track and look forward to acquiring additional transponder capacity to beef up our existing, industry leading bandwidth in the current fiscal. We intend to leverage the additional capacity to distribute localised content as well as strengthen carriage revenues."

For the first half of 2013-14 fiscal, Dish TV reported net loss of Rs 46.37 crore as against net profit of Rs 22.77 in the year-ago period.

The company's scrip was trading at Rs 51.30 in the afternoon trade, up 0.39% from its previous close, on the BSE.