cmn_Dish-TV

India’s largest direct to home television services operator Dish TV added 0.39 million net subscribers for the quarter ended June 30, 2014, a shade below the 0.40 million additions in the preceding quarter, but above the 0.33 million net additions in the same quarter last year. This takes up Dish TV’s total number of subscribers to 13.3 million.

DishTV_subscribers_June-2015

Note in April this quarter, Dish TV recently transferred its non-core business (including set-top boxes, dish antenna and related services) to its wholly owned subsidiary Dish Infra Services Private Limited (formerly known as Xingmedia Distribution Private Limited) on April 1, 2015. The company reported its maiden consolidated quarterly numbers.

Financials

Dish-TV-Profit-2015

Dish TV reported an operating revenue of Rs 736.7 crore for the quarter, up 19.2% from Rs 618 crore in the same quarter last year, and up 0.9% from Rs 729.9 crore in the preceding. The net profit was at Rs 54.2 crore for the quarter, a huge improvement from Rs 34.9 crore in the previous quarter and Rs 15 crore loss in the same quarter last year.

The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter was at Rs 236.8 crore for the quarter, up 7.2% from Rs 220.9 crore in the previous quarter. EBITDA margin was higher at 32.1 % from 29.4% in the previous quarter.

Dish-TV-EBITDA-June-2015

Highlights

Average Revenue Per User: Post consolidation, the average revenue per user (ARPU) for Dish TV increased to Rs 173 from Rs 172 in Q4 FY15. ARPU however would have been Rs. 180, as compared to Rs. 179 in Q4 FY15, without the effect of consolidation.

– Under the new reporting norms, Dish TV’s DTH segment reported revenues of Rs 511.16 crore and the infra support services business reported revenues of Rs 233.25 crore.

 The DTH segment reported an operating profit of Rs 93.64 crore and the infra support services business reported a loss of Rs 16.46 crore.

Joint venture with Siti Cable: Dish TV recently formed a content negotiating joint venture (JV) called ‘Comnet’ with its group company and multi system operator, Siti Cable Network Limited. Both Dish TV and Siti Cable are equal partners in the JV and will hold joint discussions with broadcasters post which separate direct contracts between the broadcaster and distribution platform will be signed.

Zing to be launched in Kerala: Dish TV’s regional offering, ‘Zing’, will soon be launched in Kerala and will carry the largest cache of vernacular channels offered in that market,  Jawahar Goel, Managing Director, Dish TV said in the release.

Pack prices increased by Rs 10: Dish TV pack prices were increased by Rs 10 in all 42 cities under Phase 1 & 2 digitization markets in the preceding quarter. This increase in price was first introduced in Delhi, Mumbai, Pune and Kolkata, and later extended to the other 38 cities covered under Phase 1 & 2. Goel also said that increase in pack prices, higher HD uptake and certain industry-level developments like initiation of packaging in cable will ensure increase in ARPU.

Download: Press release | Financials