Dish TV Post Q4 Loss of INR 149.05Cr

Leading Indian Direct-to-home (DTH) service provider Dish TV India, reported widening of its standalone net loss over three times to INR 149.05 crore for the fourth quarter ended March 31, 2014.The Company had registered a standalone net loss of INR 43.62 crore for the January-March quarter of the last fiscal. But it has increased its standalone net sales to INR 634.85 crore during the period as against INR 554.57 crore in the same quarter a year earlier, the company said in a BSE filing. For the financial year 2013-14, Dish, Net loss increased to INR 157.61 crore as against INR 66 crore in the previous fiscal. Dish TV’s consolidated net sales increased to INR 2,499.04 crore in the financial year 2013-14 as against Rs. 2,164.47 crore of 2012-13 fiscal. “Fiscal 2014 was a challenging year for the economy. Fortunately however, with a new government backed by a strong mandate at the Centre, there is significant hope of growth coming back on track,” said Dish TV Chairman Subhash Chandra. According to Dish TV’s Managing Director Jawahar Goel, the company had opted long term sustainability in fiscal 2014. “Unlike fiscal 2013, fiscal 2014 was a disruptive period where we had to choose between immediate benefits and long term sustainability in the hyper competitive DTH industry. Choosing the later, we continued to deleverage while maintaining our subscriber acquisition price point,” added Goel. Mr.Goel also said the DTH industry is optimistic about rationalisation in the taxes by the new government at the Centre. “As notification of the Goods and Services Tax (GST) is taking time, we look forward to allowance of abatement in Service Tax along with moderation in Entertainment Tax in line with the prevailing structure in Gujarat and other forward looking states. We are also hopeful of an early resolution of the DTH license renewal and payment of license fees matter in the industry’s favour,” he said.