DTH

Dish TV reports higher op profit for FY 2020 and Q4 2020

Total loss for FY 2020 was higher at Rs 1,654,84 cr on higher exceptional items of Rs 1,915.50 cr

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/07/24/dis.jpg?itok=TBl24nhC

BENGALURU: Indian DTH major Dish TV India Ltd (Dish TV) reported 30.9 percent year-over-year (y-o-y) growth in consolidated operating profit (EBITDA) for the quarter ended 31 March 2020 (Q4-2020, quarter under review) as compared to the corresponding year ago quarter. Consolidated EBITDA for the year ended 31 March 2020 (FY 2020) was 3 percent higher than the previous year (FY 2019).

Dish TV reported operating revenue of Rs 3,556.34 crore for the year under review. For FY 2019, Dish TV had reported operating revenue of Rs 6,166.13 crore and programming and other costs of Rs 2,278.83 crore. Hence Dish TV’s adjusted operating revenue (operating revenue minus programming costs) works out to Rs 3,887,30 crore. With programming cost becoming a pass-through item in the new tariff regime, subscription and operating revenues for the quarter and fiscal are not comparable with the corresponding period last year says the company in its FY 2020 and Q4 2020 earnings release. For FY 2020 and FY 2019, consolidated operating EBITDA numbers were Rs 2,105.97 crore (59.2 percent of operating revenue) and Rs 2,044.27 crore (33.2 percent of operating revenue and 52.6 percent of adjusted operating revenue) respectively.

Dish TV reported operating revenue of Rs 869.06 crore for Q4 2020 and Rs 1,398.75 crore for Q4 2019.  Dish TV ‘s consolidated EBIDTA for Q4 2020 and Q4 2019 was Rs 543.22 crore (62.5 percent of operating revenue) and Rs 414.97 crore (29.7 percent of operating revenue) respectively.

Profit before tax and exceptional items for FY 2020 was Rs 128.15 crore and for FY 2019 profit before tax and exceptional items was Rs 26.85 crore. For Q4 2020 PBT without exceptional items was Rs 55.53 crore, while Dish TV had reported a loss before tax and exceptional items of Rs 82.34 crore for Q4 2019.

The company has reported exceptional items for FY 2020 in the standalone financial results which included (a). Impairment of goodwill: R. 1,91,5.50 crore (FY 2019 - Rs 1,543 crore) and (b). Impairment of loans/advances to Dish TV Lanka Pvt Ltd (a subsidiary Company): Rs 3.66 crore (net) (FY 2019 - Rs 141.99 crore). Dish TV says that the goodwill acquired pursuant to merger of the company with the erstwhile Videocon d2H Ltd is periodically tested for impairment to ensure that it is carried at no more than its recoverable amount.

Due to these exceptional items, Dish TV reported a loss of Rs 1.654.84 crore for FY 2020 and a loss of Rs 1,163.41 crore for FY 2019. Losses due to exceptional items in Q4 2020 and Q4 2019 were Rs 1,456.25 crore and Rs 1,361.30 crore respectively.

Let us look at the other numbers reported by Dish TV for FY 2020 and Q4 2020

For FY 2020, total expenditure was Rs 3,441.80 crore. The major expenses in FY 2020 were operating expenses of Rs 787.30 crore; employee benefits expense of Rs 193.11 crore; finance costs of Rs 565.22 crore and other expenses of Rs 466.51 crore.

For Q4 2020, total expenditure was Rs 816.49 crore. The major expenses in Q4 2020 were operating expenses of Rs 172.10 crore; employee benefits expense of Rs 58.13 crore; Finance costs of Rs 143.30 crore and other expenses of Rs 95.32 crore.

Though y-o-y, finance costs in Q4 2020 were down 2.9 percent as compared to Rs 147.62 crore in Q4 2019, they were up 4.7 percent higher quarter-on-quarter (q-o-q) as compared to Rs 136.91 crore in the immediate trailing quarter Q3 2020. Dish TV said in its earnings release for FY 2020 and Q4 2020 that it has paid balance of the overdue loan amount of Rs. 250 crore during the quarter. The company paid Rs. 445.90 crore in total during the quarter thus reducing its overall debt to Rs. 1817.50 crore at the end of fiscal 2020 as compared to Rs. 2769.50 crore at the close of fiscal 2019.

Company Speak

Dish TV group CEO Anil Dua said, “Though our revenues were positively impacted

by the higher number of win backs and recharges during the initial days of the lockdown, we could not be complacent during such trying times and went all out to scan every cost-centre for greater operational efficiencies. Our all-time high EBITDA and EBITDA margin recorded during the quarter was a result of operational resilience demonstrated by the business.”

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/09/16/x.jpg?itok=zzZGqJBe
DTH expands even as pay TV market saturates

Pay TV subscription revenue is expected to reach $7.6 billion by 2026 over $6.4 billion in 2021, stated Media Partners Asia in its latest report on India’s online video market, which also highlights the increasing market share of Direct-to-home (DTH) even as cable TV remains in structural decline.

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/09/09/photogrid_plus_1631181635545.jpg?itok=JqamlZts
DTH operators write to TRAI over broadcasters offering pay channels on DD Free Dish

Mumbai: Direct-to-home (DTH) service providers including Tata Sky and Airtel Digital TV have written to the Telecom Regulatory Authority of India (TRAI) asking the telecom regulator to address the issue of broadcasters making their pay channels available on Prasar Bharati’s FTA platform DD Free...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/09/07/photogrid_plus_1631011064471.jpg?itok=l2QMqoyb
Tata Sky’s new ad promotes aggressively priced Thalaiva pack

Mumbai: Content distribution platform and pay-TV platform Tata Sky has launched a new campaign for potential customers in Tamil Nadu. The narrative of the campaign "Vera Level" communicates the elevated entertainment options that are offered by a Tata Sky connection – highlighting the regional...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/09/07/yes.jpg?itok=6x5eZLAz
Yes Bank seeks removal of current directors of Dish TV

YES Bank, which holds 25.63 per cent stake in Dish TV India Ltd has sought the removal of the current directors and managing director of the direct-to-home service provider. The bank has recently issued a special notice asking the company to put its proposal to vote at Dish TV’s upcoming annual...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/09/01/photogrid_plus_1630476619374_0.jpg?itok=_XpI_j-J
DTH operators report sharp drop in subscribers in Jan-March: TRAI

Mumbai: The total number of active DTH subscribers declined to 69.57 million at the end of March 2021 from 70.99 million at the end of December 2020, as per the Telecom Regulatory Authority of India (TRAI). This is in addition to the subscribers of DD Free Dish (DTH service of Doordarshan). The...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/08/26/tata.jpg?itok=Kz-bYLc1
Tata Sky unveils its first batch of Make-in-India set-top boxes

DTH operator Tata Sky on Thursday unveiled its first batch of Made in India- set-top boxes which have been manufactured in partnership with Technicolor Connected Home and Flextronics.

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/08/25/photogrid_plus_1629887542032.jpg?itok=BS3Bromd
Prasar Bharati concludes 55th e-auction; allots two MPEG-4 slots

Mumbai: Public broadcaster Prasar Bharati has allotted two vacant MPEG-4 slots for its DD Free Dish DTH platform at the end of the 55th e-auction, held on 23 August. The successful bids went to the Hindi news and current affairs channels Vertent Samachar Plus 24X7 and FM News. The channels will be...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/08/11/dd_free_dish.jpg?itok=z6Vl91wT
Prasar Bharati invites bids for vacant MPEG-4 slots in 55th e-auction

Prasar Bharati has invited applications for the allotment of vacant MPEG-4 slots of DD Free Dish DTH platform for the period from 1 September 2021 to 31 March 2022 through the 55th e-auction. The e-auction process will be tentatively held on the afternoon of 23 August.

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/08/10/photogrid_plus_1628591119012.jpg?itok=XvmFn5sV
Prasar Bharati concludes 54th e-auction; adds five new MPEG-2 slots

Mumbai: Public broadcaster Prasar Bharati has added five new MPEG-2 slots for its DD Free Dish DTH platform at the end of the 54th e-auction. Hindi general entertainment channel (GEC) Ishara TV, teleshopping channel Naaptol, music channel Showbox, Marathi channel Sun Marathi, and Bengali channel...

DTH DTH Operator

Sign up for our Newsletter

subscribe for latest stories

* indicates required