PR Newswire
MUMBAI, India, July 29, 2017
MUMBAI, India, July 29, 2017 /PRNewswire/ -- VDTH ("Videocon d2h" or the "Company") announced its financial results for the quarter ended June 30 2017.
Key highlights for the quarter ended June 30, 2017:
Key metrics | Q1 FY18 |
Gross subscriber additions (million) | 0.63 |
Net subscriber additions (million) | 0.13 |
Adjusted EBITDA (INR million) | 2,485 |
Profit after tax (INR million) | 12 |
Free cash flow (INR million) | 572 |
Commenting on the company outlook, Executive Chairman of Videocon d2h, Mr. Saurabh Dhoot, said "I am pleased to share that the Honorable National Company Law Tribunal has approved the scheme of amalgamation with Dish TV India. We are awaiting the certified copy of the order. The appointed date for the Scheme is October 1, 2017, from which date the businesses of Videocon d2h Limited and Dish TV India Limited will be amalgamated.
In the past few weeks, the management has been working on an integration plan. The merged entity plans to adopt and implement the best practices of both companies. We believe this merger provides exciting opportunities through the customer service model, convergence of technologies, expanded breadth of content offerings including expansion of exclusive content, advertising income growth potential as well as synergies from a combined subscriber base of more than 28 million. The merged entity would be one of the largest Pay TV platforms in the world in terms of subscriber base, according to the Company estimates. I am very excited for this new journey of a business that commands strong business fundamentals and growth opportunities supported by our strong balance sheet and growing free cash flows."
Speaking on the business outlook, Mr. Anil Khera, CEO of Videocon d2h, said "I am pleased to share that Goods and Service Tax (GST) came into effect starting July 1, 2017. GST will simplify the taxation regime and improve the ease of doing business. GST would also drive the unorganized segment, such as local cable operators, towards taxation.
I am happy to share that the monsoons this year have been in line with long term average. This is likely to strengthen the macro-economic sentiment and imply good consumption from rural India. This is positive for the DTH industry and the upbeat rural sentiment due to the good monsoon could lead to a strong outlook for the festive quarter."
Financial Summary
(In INR million, unless otherwise indicated)
| | Q1 FY17 | Q4 FY17 | Q1 FY18 |
Key financial metrics | | | | |
Revenue from operations | | 7,633 | 7,549 | 7,726 |
Subscription and activation revenue | | 6,970 | 6,886 | 7,091 |
Adjusted EBITDA | | 2,519 | 2,364 | 2,485 |
Adjusted EBITDA margin (%) | | 33.0% | 31.3% | 32.2% |
Profit after tax (loss) | | 27 | (87) | 12 |
| | | | |
Content cost (% of revenue) | | 38.7% | 42.5% | 42.0% |
| | | | |
Adjusted EBITDA less capex | | 887 | 981 | 1,246 |
Free cash flows | | 138 | 318 | 572 |
| | | | |
Key operating metrics | | | | |
Net subscribers (million) | | 12.29 | 12.91 | 13.04 |
ARPU[6] (INR) | | 211 | 196 | 198 |
Churn per month (%) | | 0.49% | 0.87% | 1.27% |
During the quarter ended June 30, 2017, Videocon d2h reported revenue from operations of INR 7.73 billion. Subscription and activation revenue came in at INR 7.09 billion.
Videocon d2h achieved Adjusted EBITDA of INR 2.49 billion in Q1 FY18. Adjusted EBITDA margin was 32.2% during the quarter. The company achieved a Net Profit after Tax of INR 12 million in Q1 FY18.
The Company added 0.63 million gross subscribers and 0.13 million net subscribers during Q1 FY18. Net subscribers totaled 13.04 million as of June 30, 2017. Monthly churn came in at 1.27% for the quarter.
Subscriber acquisition costs in the form of hardware subsidies were INR 1,865 per subscriber during the first quarter of Fiscal 2018.
As of June 30, 2017, Videocon d2h had term loans of INR 19.67 billion and total cash and short term investments of INR 4.35 billion.
Conference call's dial in details
The results conference call time and details are provided below.
| Call #1 | Call #2 |
Date | Monday, July 31,2017 | Monday, July 31,2017 |
| | |
Time | 11:00 am India time | 6:30 pm India time |
| 1:30pm HK time | 9:00pm HK time |
| 6:30am UK time | 2:00pm UK time |
| 1:30am NYC time | 9:00am NYC time |
| | |
Dial in details | | |
India | +91 22 3960 0752/ 1 800 120 1221 | +91 22 3960 0752/ 1 800 120 1221 Werbung Mehr Nachrichten zur Videocon d2h ADR Aktie kostenlos abonnieren
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