Follow Us
Dish TV reported a steep contraction in revenue and a sharp widening of losses in the September quarter as well as in the first half of FY26 while the company continued to grapple with heavy impairment charges and a prolonged dispute over DTH licence fees with the government.
For Q2 FY26 the company posted operating revenue of Rs 291.1 crore compared with Rs 395 crore in Q2 FY25 representing a 26.33 % decline. Total income fell to Rs 299.2 crore from Rs 400 crore a year earlier in Q2.
The quarterly loss deepened to Rs 132 crore against Rs 37 crore in the year ago period which marks a deterioration of 256.76 per cent in the loss position.
Expenses remained elevated at Rs 432 crore compared with Rs 438 crore in the corresponding quarter while depreciation and amortisation stood at Rs 103 crore versus Rs 120 crore last year.
In the first half of FY26, Dish TV reported operating revenue of Rs 520 crore down from Rs 851 crore in H1 FY25 reflecting a drop of 38.89 %. Total income came in at Rs 633.4 crore against Rs 861.5 crore in the previous year period.
The loss expanded sharply to Rs 227 crore from Rs 39 crore marking a deterioration of 482.05 per cent. Expenses stood at Rs 858 crore compared with Rs 900.5 crore a year earlier and depreciation and amortisation was Rs 209 crore versus 225 crore.
The company’s results were weighed down by continued impairment assessments undertaken by Dish Infra Services Private Limited, its subsidiary involved in new age technology and the Watcho OTT platform.
Dish Infra recorded impairments of Rs 207.60 crore in intangible assets under development and Rs 202.38 crore in capital advances as of 31 March 2025 along with Rs 120. crore in other advances.
Separately the group continued to assess the impairment of assets acquired from Videocon d2h due to subscriber erosion and changes in market dynamics.
Based on an independent valuation Dish Infra booked impairments of Rs 2364.05 crore in goodwill Rs 70.01 crore in customer and distribution relationships and Rs 401.12 crore in property plant and equipment.
The company also remains entangled in a long running dispute with the Ministry of Information and Broadcasting over the computation and applicability of DTH licence fees.
A writ petition challenging the licence fee framework continues to be heard by the High Court of Jammu and Kashmir and Ladakh while related petitions involving other operators are before the Supreme Court. Although the High Court has granted interim relief, Dish TV received a communication from the ministry in April 2025 demanding Rs 6735.67 crore in licence fees and interest subject to reconciliation. Dish TV has disputed the demand but has maintained a provision of Rs 4740.06 crore in its books as of 30 September 2025.
The company’s accumulated losses now exceed its equity share capital raising concerns about its ability to continue as a going concern although management believes its legal stance on the licence fee matter has merit.
Dish TV said it is also awaiting finalisation of the amended DTH licence framework after submitting its comments to the ministry.