Dish TV net loss doubles on forex loss

Jul 19 2012, 17:05 IST
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SummaryDTH major Dish TV today said its net loss steeply shot up by over 76 percent.

DTH major Dish TV today said its net loss steeply shot up by over 76 percent to Rs 32.32 crore for the first June quarter, mainly due to forex losses of Rs 13.8 crore.

Dish TV, from the media conglomerate Zee Group, had posted a net loss of Rs 18.32 crore in the same period previous fiscal, the company said in a statement.

"Net loss of Rs 32.3 crore was adversely impacted by foreign exchange loss of Rs 13.8 crore," Dish TV managing director Jawahar Goel said.

The net sales, however, rose to Rs 519.95 crore in the quarter compared to Rs 462.83 crore in the corresponding period a year ago.

"The first quarter witnessed a partial comeback after a sluggish Q4. However, enhanced consumer demand owing to digitisation is yet to fully reflect in acquisition numbers," Goel said, adding that with digitisation on the anvil, the subscription revenues are likely to increase.

The company added 5,04,000 new subscribers in the quarter, taking its subscriber base to 13.4 million gross and 9.8 million net subscribers at the end of the period.

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