Dish TV India adds 186,000 subscribers in 2Q 2017Thursday, August 17th, 2017
NOIDA, India — Dish TV India Limited (Dish TV) (BSE: 532839, NSE: DISHTV) today reported first quarter fiscal 2018 consolidated subscription revenues of Rs. 6,917 million and operating revenues of Rs. 7,389 million.
The quarter was witness to Dish TV making a smart recovery from the lows of the demonetization impacted previous quarters.
Net additions at 0.186 million were higher by 12.7% on a Q-o-Q basis. Churn at 1% p.m. was slightly higher than the 0.9% p.m. in the previous quarter, but remains manageable. Ramadan during the last month of the first quarter moderated subscriber additions and recharges which otherwise could have been even stronger. Unlike fiscal 2017, this year the period of Ramadan fell completely in the first quarter as against a Q1-Q2 split last year. Involvement in the GST transition process during the last few days of the quarter also diluted some managerial attention towards the business.
Amalgamation of Videocon D2h into Dish TV
On July 27, 2017, the Mumbai Bench of Hon’ble National Company Law Tribunal (NCLT) approved the Scheme of Arrangement amongst Videocon D2h Limited and Dish TV India Limited and their respective shareholders and creditors under the provisions of Sections 230-232 and other applicable provisions of the Companies Act, 2013. We are awaiting the certified copy of the Order. The appointed date for the scheme is October 01, 2017.
With all other approvals in place, the only remaining approval is from the Ministry of Information and Broadcasting.
The combination of DishTV and Videocon D2h would create one of the World’s largest DTH platform.