Dish TV's sales rose to Rs519.9 crore from Rs462.8 crore, however due to forex losses of Rs13.8 crore its net loss widened to Rs32.3 crore
Mumbai: direct to home (DTH) services provider Dish TV on Thursday said its net loss steeply shot up by over 76% to Rs32.32 crore for the first June quarter, mainly due to forex losses of Rs13.8 crore, reports PTI.
Dish TV, from the media conglomerate Zee Group, had posted a net loss of Rs18.32 crore in the same period previous fiscal, the company said in a statement.
"Net loss of Rs32.3 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 Rs519.95 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 5.0 lakh 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.