In the third quarter of fiscal year 2025, Dish TV India Ltd. reported a significant widening of its net loss to ₹46.5 crore, a substantial increase from the ₹2.8 crore loss recorded in the same period last year. This financial downturn is accompanied by a notable decline in operating revenue and a surge in marketing expenses, reflecting the challenges faced by the Direct-to-Home (DTH) service provider in a rapidly evolving media landscape.

Dish TV’s operating revenue for Q3 FY25 stood at ₹373 crore, marking a 20.7% decrease from ₹470.3 crore in the corresponding quarter of the previous fiscal year. This decline is primarily attributed to the growing consumer shift towards online content consumption and increased competition from free DTH services like DD Free Dish. The company noted that cost-conscious consumers are increasingly migrating to free platforms, leading to negative net subscriber additions during the quarter, despite a temporary uptick in new subscriptions during the festive season.

The company’s advertising revenue experienced a sharp 60% year-on-year decline, falling to ₹2.5 crore from ₹6.3 crore in the same quarter last year. In contrast, marketing and promotional expenses surged by 42.7%, reaching ₹115.2 crore compared to ₹80.8 crore in Q3 FY24. This increase in marketing spend indicates Dish TV’s efforts to enhance its market presence and counteract the declining subscription and advertising revenues.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter were reported at ₹122.7 crore, representing a 32.9% decrease from ₹180.4 crore in the previous year. Total expenditure was reduced by 13.6%, amounting to ₹250.3 crore, as part of the company’s cost management initiatives. However, financial expenses increased by 8.6%, further impacting profitability.

In response to the challenges posed by the shifting content consumption landscape, Dish TV has introduced measures such as offering complimentary access to multiple OTT platforms with every DTH subscription. Additionally, the company has launched bundled OTT app packages at competitive prices to attract both existing and potential subscribers. During the third quarter, Dish TV also established a wholly-owned subsidiary, Dish Bharat Ventures, aimed at managing a new e-commerce platform to diversify revenue streams.

Looking ahead, Dish TV remains committed to its turnaround strategy. The company anticipates that the recently introduced Finance Bill 2025 will stimulate discretionary consumer spending, potentially benefiting its operations in the upcoming fiscal year. Despite the current financial setbacks, Dish TV’s management expresses optimism about scaling new heights and achieving sustainable growth through strategic reforms and market adaptation.

Key Highlights:

• Dish TV reported a net loss of ₹46.5 crore in Q3 FY25, up from ₹2.8 crore in the same period last year.
• Operating revenue declined by 20.7% year-on-year to ₹373 crore.
• Advertising revenue decreased by 60%, while marketing expenses increased by 42.7%.
• The company is implementing strategic initiatives, including OTT partnerships and the launch of an e-commerce platform, to counteract financial challenges.