India's Dish TV cuts losses sharply
Written by Rose Major
Sunday, 09 May 2010 10:16
Indian DTH operator Dish TV, part of the Essel/Zee group, continues to see its losses diminish as subscribers continue to sign up to the pay-TV platform.
For the year to the end of March, Dish TV’s full fiscal year, the operator added 1.8 million new subscribers, 440,000 in the last quarter. Gross subscriber base stands at 6.9 million while the net subscriber base is 5.7 million. Dish TV claims over 33% of the DTH market.
Full year operating revenues stood at Rs10.9 billion, up 48% on the previous year. EBITDA was Rs915 million, up 148%.
Loss for the quarter to the end of March 2010 was Rs598 million, 22% down on the previous quarter’s Rs762 million and 33% down on the Rs787 million for the same quarter the previous year. Full-year losses fell from Rs4,763 million in FY2009 to Rs2,613 million.
Subhash Chandra, Chairman, Dish TV, said: “An innovative business approach with an eye on operational efficiencies has resulted in Dish TV delivering encouraging numbers and the company crossing the ten billion rupee mark in revenues this year. With the DTH industry in India witnessing unprecedented growth, the year ahead promises to be even better for Dish TV.”
Jawahar Goel, Managing Director, Dish TV, said, “Our results reflect the strength of an integrated business model. Dish TV has been steadily targeting break-even at the operational level. Game changing innovations for subscriber acquisition and brand building along with focus on customer satisfaction have helped us continue as the largest DTH player in the India.”