Investor Presentaiton

Rising vaccination coverage is expected to go a long way in enhancing consumer sentiment & building back economic momentum. In addition, government's emphasis on increasing rural income & productivity should help increase the spending capacity of the vast non-urban population of the country. The Company maintained a cautious approach towards expense management thus achieving overall operating efficiencies which helped an 8.7% Y-o-Y reduction in total expenses. With rural stress and inflationary pressures, price sensitive customers at the bottom of the pyramid remained vulnerable to churn to the Free DTH platform. Streaming platforms as well as content bundling by telecom players continued to give competition to the DTH service providers. A mixed quarter disht✓ dishtv d2h Focus on gaining incremental market share helped the Company ramp up gross acquisitions to almost the pre-pandemic level, though continued dependence exclusively on internal funds restricted the ability of the business to go all out thus keeping net additions under pressure. d2h Consumers typically tend to step up spending during festivals with the season traditionally accounting for majority of the annual revenues of businesses. Overall, the cloud of Covid 19 obstructed any meaningful increase in consumer confidence and spending. While a rural slowdown was evident since early days of the pandemic, the stop start nature of the virus dampened rural demand even more, notwithstanding the festive season. ① Diwali 2021 witnessed aggressive marketing by consumer focused companies. While higher marketing spends did help generate incremental acquisitions, consumer spending went below par once the pent-up demand was exhausted. 5

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