Dish TV India Ltd, a prominent direct-to-home service provider, declared a consolidated net loss of Rs 402.19 crore for the March quarter. The loss stemmed largely from impairment on intangible assets under development, as detailed in the company’s latest financial results.
Compared to the same quarter last year, the company’s revenue experienced a notable decline of 15.55%, down to Rs 343.66 crore. Additionally, advertising revenue plummeted by 40% to Rs 4.1 crore during this quarter, reflecting the ongoing challenges within the industry.
Despite the financial hurdles, Dish TV shares closed on a positive note, increasing by 4.98% to Rs 5.90, indicating a resilient market response to the company’s strategic adjustments.
(With inputs from agencies.)
