By 121 News
Chandigarh 28th July:- Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) today reported first quarter fiscal 2017 consolidated subscription revenues of Rs. 7,282 million and operating revenues of Rs. 7,786 million. EBITDA for the quarter stood at Rs. 2,646 million compared to Rs. 2,357 million in the corresponding quarter last fiscal. EBITDA margin was 34.0%. Profit before tax was Rs. 631 million while Profit after tax for the quarter was Rs. 409 million. The Board of Directors in its meeting held today, has approved and taken on record the unaudited results for the quarter ended on June 30, 2016.
Global macro remains cloaked in uncertainties. However, with India getting closer to being the world's fastest growing economy in 2016 its attractiveness from a growth standpoint has become even better. The state of the economy is critical for the success of any business.
Jawahar Goel, Chairman & Managing Director, Dish TV, elaborated that with the government working on Roads, Railways, Power and other infrastructure and with global energy prices remaining low, the Indian consumer's propensity to consume is definitely on the rise. Add to that, normal monsoon conditions, government's notification of the 7th Pay Commission recommendations and you have all the ingredients needed to boost demand and spending. This is good news for service industries like ours.
Fiscal 2017 started on an optimistic note for the Indian pay DTH industry. While the Delhi High Court is likely to take up hearing of the digitization Phase III matter in August this year, cable operators may have no option than to digitize remaining analog cable networks as the Central Government gears up to auction 700 MHz spectrum to telecom operators. The government is also contemplating utilization of 200 MHz airwaves for mobile telephony.
Jawahar Goel added that buoyed by digitization, notwithstanding the relative seasonal weakness in 1Q, the industry collectively added around 15% higher subscribers compared to the same quarter last fiscal. Dish TV maintained its lead in incremental subscriber additions during the quarter. Our strengthened distribution in DAS Phase III and IV areas along with the popularity of the Dish TV Insta Care– 4-Hour Service Assurance Campaign were instrumental in helping us maintain an edge over competition. Our regional and mass-market offerings continued to remain crowd-pullers in respective geographies.
Jawahar Goel further said that the consumers growing passion for HD has the potential to trigger yet another round of growth, beyond that being driven by digitization, for the DTH industry. Going forward, we would continue to build on our HD advantage while focusing on its sales across the country.
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