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=y8SHCiQA

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/2022/05/06/trai.jpg?itok=OdIi_VmP
DTH sector lost 0.37 mn subs in the quarter ended 31 Dec’21: Trai

Mumbai: The total active subscriber base of the pay direct-to-home (DTH) sector declined from 68.89 million at the end of September 2021 to 68.52 million at the end of December 2021, as per data provided by the Telecom Regulatory Authority of India (Trai). This is in addition to the subscribers of...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/13/apurva-chandra.jpg?itok=gzbfe5_A
MIB to distribute 1.5 lakh Free Dish in remote areas of J&K

The government will distribute 1.5 lakh free dish in far-flung areas of Jammu and Kashmir, the ministry of information and broadcasting secretary Apurva Chandra said on Tuesday during a visit to Kangan Sub Division of J&K to assess the outreach of DD Free Dish in the area.

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/31/img_31032022_181642_800_x_800_pixel.png?itok=32YiJtXE
DD Free Dish announces new channel numbers effective 1 April

Mumbai: Prasar Bharati’s free direct-to-home (DTH) platform DD Free Dish has announced the new channel numbers for 167 TV channels and 48 radio channels that will come into effect from 1 April. The TV channels comprise 91 Doordarshan channels including 51 cobranded educational channels and 76...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/26/img_26032022_162028_800_x_800_pixel.jpg?itok=bKNIOm0m
Dish TV India reappoints Jawahar Goel as MD

Mumbai: Dish TV India has reappointed Jawahar Lal Goel as its managing director (MD) till 25 March 2025, the company said in a regulatory filing late Friday night. The DTH service company also reappointed Anil Kumar Dua as the whole-time director for the same period as Goel. Goel who is also the...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/14/prasar.jpg?itok=A-9t4wDo
Free Dish MPEG-2 slots to be allotted on pro-rata basis in 59th e-auction: Prasar Bharati

Mumbai: Prasar Bharati has invited applications for allotment of vacant MPEG-2 slots of DD Free Dish DTH platform on a pro-rata basis for the period from 1 April 2022 to 31 March 2023. The e-auction process will be tentatively held on 23 March.

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/02/17/img_17022022_192024_800_x_800_pixel.jpg?itok=qCiHoA45
Tata Play pays tribute to Rahul Bajaj with ‘Ek Din Ek Jeevan’

Mumbai: Tata Play pays homage to Rahul Bajaj by telecasting his achievements and leadership skills with "Ek Din Ek Jeevan" on 19 February starting at 6:30 p.m on channel #505. The Indian businessman, who was an eminent name in the auto industry, passed away in Pune on 12 February. The show is...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/02/14/dishtv.jpg?itok=7zNR06RO
Dish TV India reports third-quarter revenue of Rs 7107 million

Mumbai: Dish TV India Ltd has reported its third-quarter fiscal 2022 results on Monday. The company reported operating revenue of Rs 7107 million for the quarter ended 31 December 20201. Its subscription revenue stood at Rs 6459 million, EBIDTA was Rs 4260 million and profit after tax was Rs 802...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/02/07/anurag-kumar.jpg?itok=uEYXaXCi
Our OTT business is poised for strong growth with this rebranding: Tata Play CCO Anurag Kumar

The advent and popularity of OTT platforms forced almost all major traditional content distributions platforms to reinvent themselves in the last couple of years. But category leader Tata Sky’s decision to go for a complete identity overhaul, rebranding itself as Tata Play, was a big move...

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/26/tata-play.jpg?itok=890mRQwo
Tata Sky rebrands to Tata Play to reflect its expanded business interests

DTH and pay TV platform Tata Sky has announced a new name and identity – Tata Play as it expands its business interests beyond direct-to-home services. The company’s services include a 100 per cent fiber network that has been renamed to Tata Play Fiber. Its aggregator app Tata Play Binge offers...

DTH DTH Operator