Dish TV posts Q1 net profit of Rs 54.21 crore

Direct-to-home operator Dish TV India on Tuesday posted a consolidated net profit of Rs 54.21 crore for first quarter of the fiscal driven by the success of its regional offering Zing and value driven HD channels.

The Essel Group firm had posted a consolidated net loss of Rs 14.97 crore for the corresponding quarter last fiscal.

Dish TV's total income on consolidated basis was up 19.19% during the quarter under review to Rs 736.68 crore as against Rs 618.04 crore of Q1 of FY 2014-15, the company said in a statement.

During the April-June quarter Dish TV added 3,90,000 subscribers, it added.

"Our first quarter results are in line with the success of our regional and high definition (HD) strategy," said Dish TV Managing Director Jawahar Goel.

He further added that its regional offering, Zing cemented Dish TV's supremacy in the DAS Phase 3 & 4 markets with custom made content, hardware and service packages for the regional audience.

"It would soon be launched in Kerala and would carry the largest cache of vernacular channels offered in that market," Goel added.

Dish TV Chairman Subhash Chandra said: "The impending DAS Phase 3 & 4 markets have an 80 million household potential, a large part of which is expected to be lapped up by the prominent DTH players in the country."

"It (Dish TV) has been at the forefront when it comes to gaining incremental subscribers in the highly competitive DTH industry in India," he said.

During the quarter, Dish TV has transferred its non-core business which includes set-top boxes, dish antenna and related services to its wholly-owned subsidiary Dish Infra Services Private Ltd on a going concern basis.