New Delhi: DTH service provider Dish TV India Ltd has reported a net loss of Rs 1.56 crore for the first quarter of the financial year 2024-25. This marks a significant decline from the net profit of Rs 20.54 crore reported in the same period last year.
The company’s overall revenue also took a hit, falling to Rs 461 crore in Q1 FY25 from Rs 503.2 crore in the corresponding quarter of the previous year. A breakdown of the revenue shows a decline in subscription revenue from Rs 397 crore to Rs 306 crore. However, there was a positive note as advertising revenue increased from Rs 9.1 crore to Rs 9.7 crore during the same period.
Despite the decline in overall revenue, Dish TV’s operating revenue stood at Rs 455.2 crore, down from Rs 500.16 crore in the previous year. The company’s EBITDA also took a hit, falling by 22.7% to Rs 164.5 crore from Rs 212.7 crore in Q1 FY24.
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To bolster its financial position, Dish TV has announced plans to raise up to Rs 10 billion through various financial instruments, including equity shares, convertible bonds, and debentures. The funds will be utilized for the company’s growth and expansion plans.
Additionally, the company is looking to establish a wholly-owned subsidiary focused on distributing products and services through a digital platform. This strategic move indicates Dish TV’s intention to expand its digital footprint and explore new revenue streams.
While the financial results for Q1 FY25 present challenges, the company’s plans to raise funds and venture into the digital space suggest a strategic approach to overcome these hurdles and achieve sustainable growth.
