- Four hundred TMC members join BJP in Tripura
- JK issue must be resolved as per Kashmiris' aspirations: Pakistan
- Kapil Sharma hit Sunil Grover with a shoe, confirms a crew member
- Baahubali 2: SS Rajamouli's Film To Release Across 6500 Screens
- Bombay HC to state: No punitive action against resident doctors if they resume work
- AIADMK Deputy General Secretary Dinakaran & rebel Madhusudhanan file papers for bypoll
- Shiv Sena MP Ravindra Gaikwad beats AI staffer with slippers, employees demand strict action
Videocon d2h narrows Q3 net loss, adds 0.43 net subs
MUMBAI: Videocon d2h has narrowed its net loss in the fiscal third quarter to Rs 22 crore (Rs 220 million), a 72.4% improvement over the earlier year.
Adjusted EBITDA grew 42.2% to Rs 201 crore (Rs 2.01 billion) from Rs 141 crore (Rs 1.41 billion). Adjusted EBITDA margin expanded 390 basis points year-on-year (YoY) to 27.4% in the third quarter of the fiscal.
Revenue from operations grew 21.6% YoY to Rs 731 crore (Rs 7.31 billion) during the quarter. Subscriber acquisition costs in the form of hardware subsidies were Rs 1,726 per subscriber.
The company reported strong subscription and activation revenue growth of 26% YoY to Rs 665 crore (Rs 6.65 billion) compared to Rs 528 crore (Rs 5.28 billion) in the three-month period ended 31 December 2015, primarily as a result of higher net subscribers and ARPU (average revenue per user) growth.
ARPU grew 8.2% YoY to Rs 211.
Videocon d2h added 0.67 million gross subscribers and 0.43 million net subscribers during the quarter.
Gross subscribers totaled 14.95 million and net subscribers stood at 11.27 million as of 31 December 2015.
Monthly churn came in at 0.73% for the quarter and 0.80% for the nine months ending December 31 2015, which is marginally ahead of the company guidance.
Commenting on the results, Videocon d2h executive chairman Saurabh Dhoot said, “I am delighted the company reported EBITDA growth of over 42% in the quarter compared to last year. This is a result of strong subscriber and ARPU growth and our continued focus on margin improvement, in line with our expectations. We believe we are amongst the fastest growing media companies in the world delivering exceptional performance quarter after quarter.
During the quarter, we continued to strengthen our content offering and added new channels on our platform. We recently added two transponders ahead of schedule. This further strengthens our content offering, which is one of our key competitive advantages. With this additional bandwidth we will continue to add more regional and HD channels to our platform in times to come.”
Gross debt stood at Rs 2390 crore (Rs 23.90 billion) and total cash and short term investments at Rs 826 crore (Rs 8.26 billion) as of 31 December 2015.
Speaking on the Phase III digitisation implementation, Videocon d2h CEO Anil Khera said, “In the first few days of January 2016, we saw strong pick up in subscriber additions in cities that come under Phase III digitisation. Recently, a few state high courts issued a stay order on implementation of Phase III digitisation for 1-3 months. This was in line with our expectations of the digitisation being a staggered process.
We estimate around 50 million television homes come under Phase III digitisation, of which 24-25 million television homes are already on the digital platform. Thus, the target market under Phase III digitisation is the remaining 25-26 million television homes that are currently on analogue cable.”