DISH TV INDIA LTD. - Announces Q1 results, Results Press Release and Limited Review Report for the Quarter ended June 30, 2014
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| 22 Jul 2014 | |
| Dish TV India Ltd has announced the following Unaudited results for the quarter ended June 30, 2014:<br/><br/>The Company has posted a net loss of Rs. (160.50) million for the quarter ended June 30, 2014 where as the same was at net profit of Rs. 317.30 million for the quarter ended June 30, 2013. Total Income is Rs. 6523.10 million for the quarter ended June 30, 2014 where as the same was at Rs. 6751.10 million for the quarter ended June 30, 2013.<br/><br/>- The life of the Consumer Premises Equipment (CPE) for the purposes of depreciation has been estimated by the management as five years, which as per the management, best represents the period of expected use, and is different from the life indicated by the Schedule II of the Companies Act, 2013. Upto March 31, 2012, in certain cases, the onetime advance contribution towards the CPEs in the form of rental was being recognized over a period of three years from the activation date.<br/><br/>However, such practice, with effect from April 01, 2012, was changed to five years in respect of CPEs activated on or after April 01, 2012. During the year ended March 31, 2014, the Company amended its policy in respect of CPEs activated upto March 31, 2012 also in order to align the same with the CPEs installed thereafter. During the year ended March 31, 2014, the correction in the policy had resulted in reversal of excess revenue of Rs. 12,930 lacs and excess provisions of license fee of Rs. 1,293 lacs recognised upto March 31, 2013. This also resulted in revenue for the year ended March 31, 2014 being higher by Rs. 3,702 lacs and license fee being higher by Rs. 370 lacs. The above correction had resulted into the net loss for the year and for the quarter ended March 31, 2014 being higher by Rs. 8,305 lacs. Since the correction was carried out during the quarter ended March 31, 2014, the figures for the quarter ended June 30, 2013 are not restated and are not comparable. | |
| View all announcements for DISH TV INDIA LTD. | Source: BSE India |
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