Dish Media Network, the parent company of DTH & FiberNet provider Dish Home has seen a decline in its revenue in 2022. Rating agency Care Ratings Nepal’s report says that the company’s financial strains are due to the stiff competition it’s facing in the internet market.
As per the report, the company generated 5 billion, 13 crore, 30 lakh in 2020 which declined to 4 billion, 83 crore, and 90 lakh in 2022. Likewise, the company’s operating revenue was Rs 4 billion, 92 crore in 2021. The creating agency says the falling revenue trend is down to its venture into the internet business. Dish Media entered the ISP market in 2020 with its subsidiary Dish Home FiberNet. The company saw its earnings decline by 6 percent from 2020.
|Dish Media Revenue 2020||Dish Media Revenue 2021||Dish Media Revenue 2022|
|Rs 5.13 billion||Rs 4.92 billion||Rs 4.84 billion|
The company has Devi Prakash Bhattachan, chairman of Prabhu Group, and Hemraj Dhakal of IME Group as directors. Sudip Acharya, President of Kamana Seva Bikas Bank, heads the company for its daily operations. Dish Media is preparing for its IPO as well.
Dish Media revenue fall attributed to the cut-throat competition in the internet market
And the company could be headed for a bleaker situation in the coming days. As ISPs provide IPTV services along with the internet, Dish Home’s standalone DTH service also faces a steep challenge to remain relevant. The report highlights that the company is losing 29 percent of subscribers annually in its TV business. The company also has launched its IPTV service iTV.
Currently, Dish Media has 75 dealer institutions, 4500+ sub-dealers, 45+ service centers, 15 franchises, 10000+ point of sales, and 22 local cable operators.
Dish Home provides 207 TV channels out of which 60 are HD while 147 air in SD quality. The company also has its own 15 channels. Likewise, the Dish Home FiberNet subsidiary has 2 lakh, 29 thousand, and 646 subscribers as per NTA.
The company has been rated worth Rs 3 billion 98 crores, and 45 lakhs for long-term and short-term loans. The rating agency has placed it in the “Watch with Negative Implications” list with a triple B minus rating for long-term loans worth 1 billion 43 crores 45 lakhs. Similarly, an A3 rating has been assigned for short-term loans worth Rs 2 billion and 55 crores.
Likewise, Dish Media has received a Triple B rating and has been placed in the “Watch with Negative Implication” list.
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