On Thursday, Dish TV India Ltd raise nearly 5 per cent after it clocked Rs 74.54 crore profit for the first quarter ended 30 June Fiscal year 2020-21 The shares of Dish TV India Ltd were trading at Rs11.48, up 4.94 per cent, on the BSE; and at Rs11.45, 4.57 per cent higher, on the NSE.

The BSE Sensex index was flat at 39,117.86; and the Nifty 50 index at 11,550.90, 0.14 per cent higher. Yesterday, Dish TV India Ltd reported a consolidated net profit of Rs74.54 crore for the June quarter of the current fiscal year. Its revenue fell 9.79 per cent to Rs835.58 crore during the first quarter of FY21 from Rs926.30 crore a year earlier. In the statement of Dish TV, “Unlike the initial phase of the lockdown, revenues during the quarter were impacted due to a higher overall churn. In addition, the Y-o-Y decline in revenues was also due to a high base effect considering the plenty of cricket and general election-related coverage on television during the first quarter of last year.” The DTH company said its OTT platform ‘Watcho’ not only leveraged its inventory of indigenous web series to launch multiple new originals but also established itself as an essential connection between the DTH platform and its subscribers.

Anil Dua, CEO of Dish TV, said: “We believe that subscribers who download ‘Watcho’ are generally stickier on the DTH platform than those who haven’t tried the app yet. From just million-plus subscribers in January 2020, Watcho crossed the 10 million members mark in August this year, and we hope to double this number very soon.”

Dish TV’s subscription revenue dropped 4.18 per cent at Rs791.5 crore in Q1 of FY21 from Rs 82.61 crore last fiscal.