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Dish TV approves plan to raise up to Rs 1,000 crore

The board has constituted a fundraising committee.

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KOLKATA: Dish TV India has approved a plan to raise funds for an amount upto Rs 1,000 crore at a board meeting on Wednesday.

"Keeping in mind the requirement for funds in the company, the board, at its meeting held today, ie, 17 February 2021 considered various options for fundraising and granted in-principal approval to initiate the process of fund-raising for an amount up to Rs 1,000 crore, in one or more tranches," the company said in a regulatory filing.

In this regard, the board has constituted a fund raising committee for recommending, taking actions and monitoring the matters of raising funds and related matters thereof.

The direct-to-home (DTH) operator had reported a consolidated net profit of Rs 86.41 crore for the third quarter ended December 2020 compared to a net loss of Rs 66.77 crore in the same period a year ago.

Its revenue from operations was down six per cent year-on-year to Rs 815.67 crore during the quarter as against Rs 867.8 crore of the corresponding quarter.

The company's segments include DTH and teleport service, and infra support services. It is also engaged in the business of broadcasting of other satellite telecommunications activities.

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