Dish TV posts Q4 loss of Rs 2,032 cr, revenue down 14.5% to Rs 642.70 cr
Direct broadcaster Dish TV India Ltd on Monday said it widened its consolidated net loss to Rs 2,031.99 crore for the fourth quarter ended March 2022 due to exceptional items which include impairment charges.
The company had reported a net loss of Rs 1,415.23 crore in the January-March quarter a year ago, Dish TV said in an ESB filing.
Its operating income fell by 14.50% to Rs 642.70 crore in the quarter under review from Rs 751.75 crore in the corresponding quarter.
“EBITDA for the quarter was Rs 352.5 crore. Earnings before exceptional items and tax was Rs 41.8 crore compared to a loss of Rs 199.3 crore in the fourth quarter of the prior year” , did he declare.
Total expenditure amounted to Rs 607.56 crore, down 36.35% in the fourth quarter/fiscal year 2021-22, from Rs 954.57 crore in the corresponding quarter.
“Exceptional items for the quarter and year ended March 2022 in the consolidated financial results include Rs 203 crore as impairment charge on intangible assets under development and related advances, Rs 1,616.9 crore and Rs 717.7 crore respectively as impairment charge on goodwill and intangible assets acquired from Videocon d2h Limited in 2017-2018 and Rs 116.3 crore recognized as foreign exchange fluctuation loss due to the current economic crisis in Sri Lanka,” Dish TV said.
During the quarter, Dish TV’s subscription revenue was Rs 574.8 crore, down 16.1% from Rs 685.2 crore in Q4/FY 2020-21.
“Subscription revenue in the quarter was lower than the same quarter last year, primarily due to volatility in viewing patterns, the emergence of the third wave of the pandemic, the strong inflation and conservative spending. The resulting average revenue per user (ARPU) has gone down when, well,” he says.
Its advertising revenue was Rs 14.8 crore, up 14.5% from Rs 12.9 crore.
Revenue from “additional marketing, promotion and bandwidth costs” was Rs 39 crore compared to Rs 36.2 crore.
Commenting on the results, CEO and Executive Director of Dish TV India Group, Anil Dua, said: “Pay TV consumer sentiment has oscillated between indulging in content and sometimes being frugal with it. Consumers have been more selective than ever, often switching from linear to streaming content, therefore renewing their subscriptions less regularly.
For the financial year ended March 2022, Dish TV’s net loss was Rs 1,867.23 crore. It had reported a net loss of Rs 1,189.86 crore in the previous financial year.
Its operating revenue was Rs 2,802.49 crore in 2021-22. This is 13.75% lower than Rs 3,249.36 crore during the prior year period.
Shares of DishTV India Ltd settled at Rs 13.40 on BSE on Monday, up 6.35% from the previous close.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)