Dish TV India Limited has reported fourth quarter fiscal 2021 audited consolidated subscription revenues of Rs. 6,852 million and operating revenues of Rs. 7,517 million. EBITDA for the quarter was Rs. 4,260 million. Net loss was Rs. 14,153 million as against a loss of Rs. 14,562 million in the same quarter last year.
The Board of Directors in its meeting on June 30, 2021, has approved and taken on record the audited consolidated financial results of Dish TV India Limited and its subsidiaries for the quarter ended March 31, 2021.
4Q FY21 Highlights
– Operating revenues of Rs. 7,517 million
– Subscription revenues of Rs. 6,852 million
– EBITDA of Rs. 4,260 million
– Operating revenues of Rs. 32,494 million
– Subscription revenues of Rs. 29,874 million
– EBITDA of Rs. 20,170 million
– EBITDA margin at 62.1%
– Profit before exceptional items and tax of Rs. 823 million
Mr. Anil Dua, Group CEO, Dish TV India Limited, said, “Dish TV India had been advancing its digital technology over the years but what the pandemic made us do was never really envisaged by anybody. The challenge was to do a fast track implementation of digital processes that may or may not have come to the drawing board even several years down the line. Effectively, the pandemic rushed the need to innovate. Be it Artificial Intelligence for resolving customer complaints, enabling work-from home for customer care agents and employees, developing set-top-boxes and other key accessories in India, moving trade partners to a fully digital recharge mode or upgrading our OTT platform, ‘Watcho,’ we rose to the challenges thrown by the trying year while touching new highs in EBITDA margins.”
Mr. Jawahar Goel, CMD, Dish TV India Limited, said, “Thanks to all the stakeholders of Dish TV, the Company has so far been able to rise to the challenges thrown by the pandemic. The year gone by was difficult but has left us stronger with all the innovations and process improvements in place. However, with continuing uncertainties, we maintain a cautious stand. A strong balance sheet boosts confidence in such tough times and our focus on paying down debt and other liabilities is in that direction only.”
On fresh Covid induced restrictions and their impact on the current fiscal, Mr. Anil Dua, said, “An increase in subscriber churn, possibly to free to air platforms, due to continuing economic hardship amongst the vulnerable sections of the population cannot be ruled out. We however remain optimistic about the virtually perpetual relevance of television and believe that a revival in discretionary spending, due to economic activity normalizing going forward, will improve business revenues.”
Operating revenues for the quarter and full year were Rs. 7,517 million and Rs. 32,494 million respectively. Corresponding EBITDA was Rs. 4,260 million and Rs. 20,170 million. EBITDA margin for the quarter and full year was at 56.7% and 62.1% respectively. Profit before exceptional items and tax for the quarter and full year was Rs. (1,993) million and Rs. 823 million respectively.
The Goodwill acquired pursuant to merger of the Company with erstwhile Videocon d2H Limited is periodically tested for impairment to ensure that it is carried at no more than its recoverable amount. Impairment testing of goodwill allocated to the d2h cash generating unit (CGU) was performed at the balance sheet date and an impairment loss amounting to Rs. 5,790 million was recognised in respect of d2h CGU. In addition an impairment loss of Rs. 2,008 million was recognized on Trademark/Brand.
Net loss for the quarter and full year was Rs. 14,153 million and Rs. 11,899 million respectively.
The Company paid upwards of Rs. 2,130 million towards debt during the quarter thus reducing its overall leverage to Rs. 8,099 million at the end of fiscal 2021 as compared to Rs. 18,175 million at the close of fiscal 2020.
Shares of DISH TV INDIA LTD. was last trading in BSE at Rs.13.7 as compared to the previous close of Rs. 13.91. The total number of shares traded during the day was 3086486 in over 8042 trades.
The stock hit an intraday high of Rs. 14.12 and intraday low of 12.88. The net turnover during the day was Rs. 42145430. Equity Bulls