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Dish TV reports ₹94.53 crore loss in June quarter; Revenue down nearly 28%
Dish TV’s balance sheet remains under severe pressure, with accumulated losses exceeding its equity share capital, resulting in a negative net worth.
In April, the MIB demanded ₹8,735.67 crore, including interest, for license fees since the company’s inception — a claim that Dish TV is contesting in court.
Dish TV India Ltd reported a consolidated net loss of ₹94.53 crore for the quarter ended June 30, 2025, widening from a loss of just ₹1.56 crore in the same period last year.
Revenue from operations dropped 27.6% year-on-year to ₹329.36 crore, compared with ₹455.29 crore in Q1 FY25. Total income stood at ₹334.11 crore, with other income contributing ₹4.75 crore.
Total expenses rose to ₹425.92 crore during the quarter, driven by operating costs of ₹142.10 crore, employee benefits at ₹42.16 crore, and finance costs of ₹64.12 crore. Depreciation and amortisation expenses were ₹105.28 crore.
Dish TV’s balance sheet remains under severe pressure, with accumulated losses exceeding its equity share capital, resulting in a negative net worth. As of June 30, 2025, the company carried a provision of ₹4,680.24 crore for its protracted license fee dispute with the Ministry of Information and Broadcasting (MIB). In April, the MIB demanded ₹8,735.67 crore, including interest, for license fees since the company’s inception — a claim that Dish TV is contesting in court.
Dish TV India Limited reported a net loss of ₹487 crore for the financial year 2024–25, significantly narrowing from the ₹1,966 crore loss recorded in the previous fiscal, as per its latest Annual Report released ahead of the company’s 37th Annual General Meeting scheduled for August 14, 2025.
Total revenue fell to ₹1,567.6 crore from ₹1,856.5 crore in FY 2023–24, marking a 15.6% year-on-year decline. The company attributed the drop to a fall in Pay TV subscriber numbers and stagnant average revenue per user (ARPU). Despite the revenue pressure, Dish TV maintained positive earnings before interest, taxes, depreciation, and amortization (EBITDA) at ₹529.1 crore, although EBITDA margins slipped from 40.6% last year to 33.75%.
The company cited intensified competition across the DTH, cable, telecom, and OTT sectors, coupled with inflation and currency fluctuations, as key headwinds. Depreciation expenses were down 7% year-over-year, and finance costs remained stable. Exceptional items for the year stood at ₹335.4 crore, further impacting the bottom line. Pre-tax loss for the year was ₹152.3 crore, compared to a pre-tax profit of ₹34.1 crore in the prior year.
Watcho, the company’s OTT arm, crossed 10 million paid subscriptions, contributing to its digital revenue stream. However, elevated churn and lack of ARPU growth weighed on financials. Dish TV said its strategy is now centered on retaining high-quality subscribers, pushing regional content, and offering hybrid solutions like smart set-top boxes and bundled digital services.
This growth has been driven by key digital initiatives, including the aggregation of premium content from platforms like JioCinema, ZEE5, SonyLIV, and others; the launch of Watcho FLIQS, which empowers content creators with intellectual property ownership and appeals to younger audiences; and the integration of smart devices such as the Dish SMRT Hub and DTH Stream powered by Android TV, offering features like gaming, voice assistant support, and casting capabilities. Collectively, these digital investments are enabling Dish TV to partially offset subscriber loss and revenue pressures in the traditional DTH segment.
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