Direct-to-home television service provider Dish TV had operating revenue of Rs 779 crore in the September quarter, up 9.6 per cent over a year. This was despite a 15 per cent service tax rate, from 14 per cent in the earlier period. Consolidated subscription revenue was Rs 728.8 crore, up 11.9 per cent.
Effective April 1, Dish had harmonised the accounting of entertainment tax in line with sector practice. Prior to the change, the tax was part of operating expenditure; it is now netted off against subscription revenue. The quarterly figures have been accordingly grouped, to make these comparable. Ebitda(earnings before interest, taxes, depreciation and amortisation) was Rs 264 crore, from Rs 255 crore in the corresponding quarter last year. The Ebitda margin was 33.9 per cent. Profit after tax was Rs 70.1 crore, down 19.7 per cent from last year’s Rs 87 crore. Lower due to a 43.7 per cent drop in other income and a 23 per cent increase in depreciation.
In the quarter, Dish added 32 new educational channels launched by the Union ministry of human resource development on its platform. These would be available to subscribers on the Dish TV and Zing platforms. Jawahar Goel, chairman and managing director, said: “Healthy subscriber additions led to a 11.9 per cent year-on-year growth in subscription revenue. Positive free cash flow was Rs 79.1 crore.”
In line with a strategy to go full-throttle in the High Definition market, Dish TV introduced a HD scheme enabling customers to opt for an HD box over a Standard Definition one by paying an additional Rs 120, to get the HD hardware. Subscribers can now get started with HD by subscribing to a HD pack worth Rs 75 a month in addition to their preferred standard definition package.
The chairman said subscriber additions were in line with expectations.
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