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DishTV Q1 revenues up 53 pc; added 0.44 m new subscribers too

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DishTV Q1 revenues up 53 pc; added 0.44 m new subscribers too

DishTV has reported a 53 per cent growth in revenues at Rs 2,521 million for the first quarter ended June 30, 2009 over the corresponding quarter in the previous fiscal. The DTH service provider has also claimed to have added 0.44 million new subscribers in Q1 FY10 as compared to 0.35 million during Q4 FY09, registering an increase of 27 per cent sequentially.

The Board of Directors, in its meeting held on Friday, July 31, 2009, has taken on record the unaudited consolidated financial results of DishTV and its subsidiaries for the quarter ended June 30, 2009.

Commenting on the Q1 results, Subhash Chandra, Chairman, DishTV, said, “It is heartening to note that despite a weaker economic climate, the direct to home (DTH) segment, which was pioneered by DishTV in India, continued to grow at a strong pace. Digitisation of Indian television has gained irreversible momentum, while driving higher quality and a superior offering to the consumers.”

He further said, “We have extended the momentum gained during the last fiscal into the first quarter of FY10. Our revenues grew exponentially to Rs 2,521 million, a growth of 53 per cent over last year and I am glad to report that we achieved positive EBITDA for second successive quarter. These results are a direct outcome of our business strategy that is tuned to the needs of our customers.”

Jawahar Goel, Managing Director, DishTV, said, “The Q1 results testify to the resilience of our business model. DishTV continued to consolidate its leadership position in the market through record customer additions every month. The outlook for the industry remains positive and the year ahead promises to be an exciting one for DishTV.”

DishTV claims to be a market leader with 40 per cent market share in a five-player market. The company is also said to have sizeable sales and distribution infrastructure of over 800 distributors and 48,000 dealers across 6,600 towns – once again, the largest in the category.

The Indian DTH industry is expected to grow at more than 50 per cent annually in the next three years. The company would continue to focus on increasing ARPU, value added services, commercial sales (for example, hotels, restaurants, pubs, clubs, malls etc.), brand building and penetration, service capability ramp up resulting in value creation for the stakeholders.

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