DishTV reports consolidated net profit of Rs 197.3 million in Q2 FY19

Direct-to-home operator DishTV Thursday reported a consolidated net profit of Rs 197.3 million for the second quarter ended September 30, 2018.

The company had posted a net loss of Rs 178.7 million in the July-September period a year ago, DishTV said in a BSE filing.

Total income from operations stood at Rs 16.0896 billion during the quarter under review. It was Rs 7.5628 billion in the corresponding quarter last fiscal.

DishTV said the results are not comparable due to merger of Videocon D2h into the company.

"On March 22, 2018, Videocon D2h Ltd had merged with and into Dish TV India Limited with the appointed date of the merger being October 1, 2017. Financial numbers for Q2 FY19 are thus not comparable with the corresponding period last year (Q2 FY18)," the company said.

DishTV's total expenses was at Rs 15.80 billion.

During the quarter, the company's average revenue per user (ARPU) was at Rs 207 and it added around 200,000 net subscribers.

"Strong subscription revenues of Rs 14.536 billion saw a spill over impact of pack price hikes taken during the previous quarter," the company said.

It added that "lack of heavy-duty sporting events, like those in the immediately preceding quarter, however impacted further growth of subscription revenues on a sequential basis".

In a separate filing, DishTV said its board "suo moto, took up for consideration and declared an interim dividend of Rs 0.50 per equity share of Re 1 each".

DishTV also announced the appointment of former labour secretary Shankar Aggarwal as additional director of the company in the category of Independent Director.

Shares of DishTV settled at Rs 37.15 on BSE Thursday, down 17.17 per cent from the previous close.