Essel Group direct-to-home arm Dish TV India on Tuesday reported a consolidated loss of Rs 31.98 crore in the June 2019 quarter. The company had reported a consolidated profit of Rs 27.87 crore in the corresponding period of the previous year, according to a filing on the BSE. Its total income stood at Rs 930.93 crore in the quarter ended June 30, down from Rs 1,671.36 crore, Dish TV said in a regulatory filing.
Dish TV Subscription Revenue Reduced in Q1 FY20
In a statement, the company said owing to the netting off of programming cost from revenues, to better reflect the New Tariff Regime, subscription and operating revenues for the quarter are not comparable with the corresponding period last year.
The subscription revenue stood at Rs 826.1 crore. It was Rs 1,489.3 crore a year ago.
Its operating revenue was Rs 926.3 crore. It had stood at Rs 1,655.6 crore in the year-ago period, PTI reported.
The company stated that its expenditure also declined by 64.5% to Rs 390.2 crore in the first quarter of the current financial year, against Rs 1,098.9 crore in the year-ago period.
Shares of Dish TV closed at Rs 28.40 apiece on the BSE, down 3.73%.
Dish TV India is the Leading DTH Service Provider in India
Dish TV India is currently the leading DTH service provider in India with a subscriber base of close to 40 million. Dish TV' subscriber base also includes that of D2h subscriber base because both the parties announced merged last year. In other news, Dish TV is said to be in talks with Airtel Digital TV for a possible merger, but a recent report added that the talks fell apart over the stock valuation issues.
It's said that Airtel Digital TV and others are looking at a per-share price of around Rs 35, which is lower than what Dish TV's expectation price of Rs 45. If the merger happens, Dish TV and Airtel Digital TV will become the leading DTH operator in India with 60% market share.