Shares of Dish TV India have moved higher by 8% to Rs 91.65, their highest level since July 2011 on the NSE, after the company reported a net profit of Rs 35 crore for the quarter ended March 31, 2015 (Q4) compared to a loss of Rs 149 crore during the same quarter last fiscal.
Total income from operations grew 18.5% year on year (YoY) to Rs 755 crore against Rs 637 crore in corresponding quarter of the previous year.
Analysts on an average had expected a net loss of Rs 4 crore on revenues of Rs 727 crore for the quarter.
“With cost line items under control, the resultant EBITDA or operating profit for the quarter increased by a strong 72.1% Y-o-Y. EBITDA margin improved to 29.4%,” said Mr. Jawahar Goel, Managing Director, Dish TV.
Meanwhile, the company reported a consolidated net profit of Rs 3 crore for the financial year 2014-15 against a loss of Rs 158 crore in the previous fiscal.
The DTH (direct-to-home) sector is a direct beneficiary of a positive consumer sentiment. Dish TV achieved a strong, sector leading, subscriber growth of 1.5 million net subscribers during the year. Fiscal 2015 also saw Dish TV swing to net profit, a first for any DTH company in India, the company said.
The stock opened at Rs 85.60 and had touched a low of Rs 84 on the NSE before the result announcement. The trading volumes on the counter jumped more than 10-fold, with a combined 24.9 million shares changing hands on the NSE and BSE so far.
At 1416 hours, the stock was up 8% at Rs 91.40 on the NSE.
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