Dish TV India Reports Audited Financial Results for Q4 and FY26, Focuses on Connected Entertainment
Noida, India; May 26, 2026: Dish TV India Limited, one of India's leading content distribution and connected entertainment companies, today announced its audited consolidated financial results for the quarter and financial year ended March 31, 2026.The Board of Directors took on record the audited consolidated financial results of the Company and its subsidiaries for the quarter ended March 31, 2026.
Quarterly and Annual Performance Highlights
The company reported the following key financial highlights:| Metric | Q4 FY26 (₹ million) | FY26 (₹ million) |
|---|---|---|
| Operating Revenues | 2,431 | 11,626 |
| Subscription Revenues | 1,563 | 8,863 |
| EBITDA | (700) | (69) |
Detailed operating performance showed that operating revenues for the quarter and full year stood at ₹2,431 million and ₹11,626 million, respectively. Corresponding EBITDA was reported at ₹ (700) million and ₹ (69) million. The EBITDA margin for the quarter and full year were (28.81)% and (0.59)% respectively. Profit/(Loss) before exceptional items and tax for the quarter and full year was ₹ (2,305) million and ₹ (6,612) million, respectively.
Strategic and Operational Transitions
Operationally, Dish TV continues its strategic transition towards a hybrid entertainment ecosystem that incorporates DTH services, OTT aggregation, connected devices, and Smart TV experiences. The company strengthened its presence in the connected entertainment segment by expanding the VZY Smart TV portfolio, achieving sales that crossed the ₹100 crore milestone.The management emphasized a diversified strategy aimed at increasing contribution from non-DTH businesses over the next 18 to 24 months, along with continued integration of DTH and OTT services within a unified entertainment ecosystem.
Furthermore, Dish TV successfully concluded Content India 2026 in partnership with C21Media. The event brought together over 700 delegates from broadcasters, OTT platforms, studios, producers, creators, and global media companies, strengthening the industry's positioning through discussions on AI-led storytelling, monetization models, and the future of entertainment consumption.
Financial Statements Summary (In ₹ Million)
The following tables summarize the condensed statements of operations for the quarter and year, comparing the current period to the previous year.Condensed Quarterly Statement of Operations (Q4 Ended March 31)
| Metric | Q ended 31 March 2026 | Q ended 31 March 2025 | % Change Y-o-Y |
|---|---|---|---|
| Subscription Revenues | 1,563 | 2,959 | (47.19) |
| Operating Revenues | 2,431 | 3,437 | (29.27) |
| EBITDA | (700) | 973 | - |
| Profit/(Loss) before exceptional items and tax | (2,305) | (668) | - |
Condensed Annual Statement of Operations (FY 2026 vs FY 2025)
| Metric | FY 2026 (₹ million) | FY 2025 (₹ million) | % Change Y-o-Y |
|---|---|---|---|
| Subscription Revenues | 8,863 | 13,771 | (35.64) |
| Operating Revenues | 11,626 | 15,676 | (25.84) |
| EBITDA | (69) | 5,291 | - |
| Profit/(Loss) before exceptional items and tax | (6,612) | (1,523) | - |
Key Revenue and Expenditure Breakdown
For the quarter ended March 31, 2026, operating revenues totaled ₹2,431 million, derived from the following sources:| Revenue Component | Q ended March 2026 (₹ million) | % of Revenues | Q ended March 2025 (₹ million) | % of Revenues |
|---|---|---|---|---|
| Subscription revenues | 1,563 | 64.3 | 2,959 | 86.1 |
| Marketing and promotional fees | 356 | 14.6 | 358 | 10.4 |
| Advertisement income | 60 | 2.5 | 41 | 1.2 |
| Other operating income | 452 | 18.6 | 79 | 2.3 |
| Total revenues | 2,431 | 100 | 3,437 | 100 |
Total expenses for the quarter were ₹3,131 million, comprising:
| Expense Component | Q ended March 2026 (₹ million) | % of Revenues | Q ended March 2025 (₹ million) | % of Revenues |
|---|---|---|---|---|
| Cost of goods & services | 1,720 | 70.8 | 1,377 | 40.1 |
| Personnel cost | 355 | 14.6 | 370 | 10.8 |
| Other expenses (Including S&D exp.) | 1,056 | 43.5 | 716 | 20.8 |
| Total expenses | 3,131 | 128.8 | 2,463 | 71.7 |
Management Commentary and Outlook
Manoj Dobhal, CEO and Executive Director, stated that consumer viewing preferences are evolving towards more connected and integrated entertainment experiences across multiple screens and platforms. He noted that strategic progress was made during the quarter through the expansion of the VZY Smart TV portfolio, stronger industry engagement at Content India 2026, and consumer initiatives like the 'Always-On' campaign.The long-term focus remains on constructing a future-ready hybrid entertainment ecosystem.
Dish TV India continues to focus on several key areas:
- Accelerating the transition toward a connected entertainment ecosystem.
- Expanding the VZY Smart TV and connected device presence.
- Strengthening OTT aggregation and hybrid viewing capabilities.
- Enhancing consumer engagement and retention initiatives.
- Driving operational efficiencies and revenue diversification.
- Increasing contribution from non-DTH and connected entertainment businesses.
DISHTV Stock Price Movement
Shares of Dish TV India Limited today slipped by 2.59% to close at ₹3.37. The stock shed ₹0.09, settling on a day with total traded volume of 2.72 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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