Dish TV records net loss of Rs 1.6 crore in Q1
Direct-to-home (DTH) platform Dish TV has slipped in the red during the quarter ended June due to a degrowth in revenue.
The DTH company posted a net loss of Rs 1.6 crore against a net profit of Rs 21 crore in the corresponding quarter of the previous fiscal.
EBITDA declined 23% to Rs 165 crore. Expenditure was marginally up by 1.2% to Rs 291 crore.
Operating revenue for the quarter was down 9% to Rs 455 crore due to a 23% decline in subscription revenue to Rs 306 crore.
According to a Telecom Regulatory Authority of India report, Dish TV had an active pay subscriber base of 12.67 million, making it the third largest DTH operator by subscriber base.
Dish TV CEO Manoj Dobhal said, “Dish TV has shaped the way the country watches television, and with Dish TV Smart+, history should repeat itself. Dish TV Smart+ brings together an entire ecosystem of relevant hardware and content that should resonate extremely well with customers by giving them access to both OTT as well as linear television on any screen, anywhere. It is thus Advantage OTT for Dish TV, as well as its subscribers, and should help the company get on to the fast track to growth.”
Recently, Dish TV India's board has granted in-principle approval to explore and initiate the process of raising Rs 1,000 crore through permissible means under applicable laws.
The funds will be raised through various methods, including equity shares, convertible bonds, debentures, warrants, preference shares, foreign currency convertible bonds, and other securities,
