Dish TV Q3 loss at Rs 38 crore

Company had registered a net loss of Rs 45 crore for the December quarter of the last fiscal

Direct-to-home (DTH) service provider Dish TV India Ltd today reported decline in its standalone net loss at Rs 38.25 crore for the third quarter ended December 31, 2013.

The company had registered a net loss of Rs 44.88 crore for the December quarter of the last fiscal.

Its consolidated net sales increased to Rs 612.82 crore during the period as against Rs 557.82 crore in the same quarter a year earlier, the company said in a BSE filing.

"Sticking to fundamentals, Dish TV continued to pursue its strategy of self-funded profitable growth. The third quarter was witness to Dish TV announcing some industry leading initiatives that look promising enough to weed out inefficiencies from the television industry," said company's Chairman Subhash Chandra.

According to Dish TV's Managing Director Jawahar Goel, the company has a translational loss of Rs 7 crore due to foreign exchange fluctuation.

"This along with an exchange rate adjustment demand worth Rs 5.4 crore, for transponder payments, negatively impacted the EBITDA for the quarter. In line with expectation, higher promotional and marketing expenses and a sports driven content payout also put pressure on the EBITDA of Rs 135.5 crore," he said.

On the future outlook, Goel said the government has already started the digitisation process under Phase-III and IV in remaining parts of the country, which will provide it significant opportunity.

Shares of the company closed today at Rs 49.75 apiece, down 1.49 per cent on the BSE.