Videocon d2h adds 210,000 net subscribers in 3Q 2017

MUMBAI, India — Videocon d2h Limited (NASDAQ:VDTH) (“Videocon d2h” or the “Company”) announced its financial results for the quarter ended September 30, 2017.

Commenting on the Company’s outlook, Executive Chairman of Videocon d2h, Mr. Saurabh Dhoot, said “We remain optimistic on the future outlook of the Company as we merge with Dish TV India Limited in the coming weeks, subject to receipt of approval from the Ministry of Information and Broadcasting. The businesses of Videocon d2h and Dish TV India Limited will be amalgamated for financial reporting purposes from October 1, 2017, the date appointed by the Honorable National Company Law Tribunal. We believe that the merged entity would be one of the largest Pay TV platforms in the world in terms of the subscriber base, according to company estimates. We are excited about the growth prospects of the merged entity given its large scale, solid business fundamentals and a healthy balance sheet.”

The Company added 0.45 million gross subscribers and 0.21 million net subscribers during Q2 FY18. Net subscribers totaled 13.25 million as of September 30, 2017. Monthly churn came in at 0.62% for the quarter as compared to 0.95% in the same quarter previous year. ARPU came in at INR 212. Subscriber acquisition costs in the form of hardware subsidies were INR 1,747 per subscriber during the quarter.

Subscriber Base (millions)

                                       FY16                        FY17          FY18
                 --------------------------  --------------------------  ------------
                    Q1     Q2     Q3     Q4     Q1     Q2     Q3     Q4     Q1     Q2
                 -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Total            10.64  10.84  11.27  11.86  12.29  12.52  12.77  12.91  13.04  13.25
Gross Additions   0.61   0.57   0.67   0.79   0.60   0.59   0.58   0.47   0.63   0.45
Net Additions     0.46   0.20   0.43   0.59   0.43   0.23   0.25   0.14   0.13   0.21