EARNINGS RELEASE FOR THE QUARTER ENDED DECEMBER 31, 2012
· DISH TV ADDS 829 THOUSAND NEW SUBSCRIBERS;
· AVERAGE REVENUE PER USER (ARPU) OF Rs. 160
· SUBSCRIBER ACQUISITION COST (SAC) DOWN TO Rs. 2,201
v Dish TV added 829 thousand new subscribers in the quarter ended December 31, 2012 achieving a total of 14.7 million gross and 10.5 million net subscribers at the end of the period.
v Total standalone operating revenues for the quarter stood at Rs. 5,578 million, recording a growth of 13.1% as compared to the corresponding period last fiscal.
v Subscription revenues for the quarter were Rs. 4,943 million, recording a growth of 16.2% as compared to the corresponding period last fiscal.
v Subscriber Acquisition Cost (SAC) at Rs.2,201 compared to Rs. 2,273 in the immediately preceding quarter.
NOIDA, India- Dish TV India Limited (Dishtv) (BSE: 532839, NSE: DISHTV) today reported third quarter fiscal 2013 unaudited standalone operating revenues of Rs. 5,578 million, recording 13.1% growth over the corresponding period last fiscal. EBITDA of Rs.1,377 million registered 4.8% increase over the corresponding quarter last fiscal. EBITDA margin for the quarter stood at 24.7%.
The Board of Directors in its meeting held today, has approved and taken on record the unaudited standalone results of Dish TV for the quarter ended on December 31, 2012.
Mr. Subhash Chandra, Chairman, Dish TV India Limited, said, “The Indian media industry is witnessing a sea change as it moves towards a fully digitized environment. With the government remaining committed to the cause, stakeholders across the value chain are working overtime to make the best of the opportunity.
“As digitization sweeps the pay-tv households in India, platforms with evolved business systems and processes having last mile reach are likely to have an upper edge, said Mr. Chandra.
“Amongst DTH platforms, Dish TV with its technological lead and superior product line-up is one of the best placed to capitalize on the digitization mandate, he added.
Mr. Jawahar Goel, Managing Director, Dish TV, said, “While the distribution industry remained on tenterhooks preparing for digitization, the third quarter saw the much debated compulsory switch off of analog television signals take place in key metro markets. Although lack of execution in Chennai and Kolkata was a dampener, festival demand coupled with mandatory conversion in Delhi and Mumbai brought the DTH industry back to the 1 million plus monthly run-rate. DTH garnered around 35% share of incremental additions post the sunset date.
“In line with our expectation, we witnessed significant subscriber uptake around the sunset date of 31st October. Dish TV achieved the largest share of 28% amongst DTH platforms in the digitization territories. ‘Dish+’, India’s first standard definition recorder, played its part in differentiating and attracting consumer interest in a crowded market, he added.
Commenting on the third quarter performance, Mr. Goel said, “A larger base did create pressure on the average revenue per user which, primarily supported by price hike in the second quarter, increased marginally to Rs. 160. In the third quarter, apart from the usual additional spends typically experienced due to the festive season, additionally this year the company’s investments to capitalize on the digitization opportunity are also reflected in higher costs during the quarter. A seasonally higher marketing expense was as per budget. Content cost for the year is expected to be within the guided range of 12% increase over the previous fiscal.
Dish TV recently launched India’s first Standard Definition Recorder, ‘Dish+’, with unlimited recording facility. ‘Dish+’ comes equipped with a USB slot and is positioned at a competitive price compared to non recorder ready boxes. ‘Dish+’ was initially launched in the 42 cities covered under Phase I and Phase II of digitization and is now available across India as a value for money differentiator over other boxes in the market.
In a first within the television distribution industry, Dish TV has launched recharge option through Interbank Mobile Payment Service (IMPS) through which the subscriber can recharge his Dish TV account securely and conveniently through an instant, interbank electronic fund transfer service that can be initiated only through mobile phones. Considering the deep penetration of cell phones in the country, money transfer through them is likely to emerge as a popular mode of transacting for daily services in the days ahead.
Dish TV India Limited continues to be the largest DTH Company in India and the whole of Asia Pacific and is one of the largest DTH platforms in the World.
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