Dish TV Q1 loss more than triples to Rs 286 crore; VZY sales cross Rs 200 crore

Dish TV India disclosed a significantly larger-than-expected net loss of Rs 286 crore for the first quarter of 2026, a tripling from the previous year's loss of Rs 95 crore. This decline was primarily driven by a sharp drop in subscription revenue, which fell by 41% to Rs 161 crore from Rs 273 crore in the same period last year.

Operating revenue also decreased by 19% year-on-year to Rs 266 crore, down from Rs 329 crore. Total expenses increased by 46% to Rs 375 crore from Rs 257 crore, with the cost of goods and services rising by 56% to Rs 239 crore. Personnel costs rose by a modest 4% to Rs 44 crore, while other expenses, including selling and distribution, increased 50% to Rs 92 crore.

Dish TV reiterated its efforts to transition from a traditional Direct-to-Home (DTH) operator into a connected entertainment platform. The company placed emphasis on strengthening its VZY Smart TV ecosystem, which includes installation, customer support, OTT and content bundling, preferred content at reduced rates, and smart-TV features. A notable initiative was the introduction of an 'Always On' proposition, a pay-as-you-watch model aimed at reducing customer churn and enhancing long-term engagement.

The company's VZY Smart TV has achieved a significant milestone by crossing Rs 200 crore in cumulative sales within its first year of launch. This achievement is part of Dish TV's broader strategy into connected entertainment, which combines smart TV technology, live television, OTT streaming, and digital content.

Looking ahead, Dish TV remains committed to its transformation into a connected entertainment company, investing in technology, customer experience, and strategic partnerships. The company's priorities for the upcoming quarters include scaling the VZY Smart TV ecosystem in key markets, enhancing the integration of DTH, OTT aggregation, and connected devices, broadening regional entertainment and sports-led offerings, improving content discovery and accessibility, and forging strategic partnerships.

CEO and Executive Director, Manoj Dobhal, emphasized Dish TV's belief in India's entertainment market increasingly being defined by convergence rather than substitution.