Dish TV India posts net loss of Rs 66.77 cr in Q3

Dish TV India Ltd on Wednesday reported a consolidated net loss of Rs 66.77 crore for the third quarter ended December, 2019.

The direct-to-home (DTH) company had posted a net profit of Rs 152.69 crore in October-December quarter a year-ago, Dish TV India said in a BSE filing.

Total income during the quarter under review stood at Rs 870.90 crore. It was at Rs 1,529.57 crore in the corresponding quarter of previous fiscal.

Meanwhile, the company said that its results are not comparable with that of the corresponding period in the previous year due to new tariff regime.

"With programming cost becoming a pass-through item in the new tariff regime, subscription and operating revenues for the quarter are not comparable with the corresponding period last year," it said.

During the quarter, the company had subscription revenues of Rs 798.2 crore.

Its total expenses stood at Rs 846.35 crore during the quarter.

"The eagerly awaited third quarter did not turn out to be the typical star performer of the fiscal this year. As consumer sentiment remained cautious amidst a not so robust macro economy, all businesses including the television industry found the going to be tough," Dish TV said in a post earning statement.

In contrast to the typical festival seasonality, DTH industry saw a downturn in subscriber additions this quarter as compared to the previous quarter, it said.

"Dish TV India witnessed tapering subscriber acquisitions in the period post Diwali. This was despite a good start to the third quarter and an expectation that H2 of the fiscal should be much stronger than the modest first half," it added.

Shares of Dish TV India Ltd on Wednesday closed 0.50 per cent lower at Rs 12.01 on the BSE.