Shares of direct company Dish TV India Ltd jumped nearly 5% on Thursday after posting a profit of Rs74.54 crore for the first quarter ended June 30 of fiscal year 2020-2021.
At 1:30 p.m., shares of DishTV India Ltd were trading at Rs 11.48, up 4.94%, on BSE; and at Rs 11.45, 4.57% more, on the NSE.
The BSE Sensex index was stable at 39,117.86; and the Nifty 50 index at 11,550.90, 0.14% more.
Dish TV India Ltd on Wednesday reported consolidated net profit of Rs74.54 crore for the June quarter of the current fiscal year.
Its revenue fell 9.79% to Rs835.58 crore in the first quarter of FY21 from Rs926.30 crore a year earlier.
“Unlike the initial phase of the foreclosure, revenue for the quarter was impacted due to a higher overall churn rate. In addition, the YoY drop in revenue was also due to a high base effect given the abundance of cricket and general election related TV coverage during the first quarter of last year, ”Dish TV said. in a press release Wednesday.
The DTH Company said that its OTT “Watcho” platform has not only leveraged its inventory of native web series to launch several new originals, but has also established itself as an important link between the DTH platform and its subscribers.
Anil Dua, CEO of Dish TV, said, “We think subscribers who download ‘Watcho’ are generally stickier on the DTH platform than those who haven’t tried the app yet. From just one million subscribers in January 2020, Watcho broke the 10 million member mark in August of this year and we hope to double that number very soon. “
Dish TV’s subscription revenue fell 4.18% to Rs 791.5 crore in the first quarter of FY21 from Rs 82.61 crore.