The company announced Q3 results during trading hours today, 22 January 2013.
Meanwhile, the BSE Sensex was down 87.48 points or 0.44% at 20,014.34.
On BSE, 21 lakh shares were traded in the counter as against average daily volume of 5.39 lakh shares in the past one quarter.
The stock hit a high of Rs 78.30 and a low of Rs 71.65 so far during the day. The stock had hit a 52-week low of Rs 52 on 27 February 2012. The stock had hit a 52-week high of Rs 84.90 on 5 October 2012.
The stock had underperformed the market over the past one month till 21 January 2013, gaining 1.97% compared with the Sensex's 4.47% rise. The scrip had also underperformed the market in past one quarter, rising 2.44% as against Sensex's 7.6% surge.
The mid-cap company has equity capital of Rs 106.49 crore. Face value per share is Re 1.
Dish TV India's operating revenue rose 13.1% to Rs 557.80 crore in Q3 December 2012 over Q3 December 2011.
Mr. Subhash Chandra, Chairman, Dish TV India said, The Indian media industry is witnessing a sea change as it moves towards a fully digitized environment. With the government remaining committed to the cause, stakeholders across the value chain are working overtime to make the best of the opportunity. “As digitization sweeps the pay-tv households in India, platforms with evolved business systems and processes having last mile reach are likely to have an upper edge.
Mr. Chandra added, Amongst DTH platforms, Dish TV with its technological lead and superior product line-up is one of the best placed to capitalize on the digitization mandate.
Mr. Jawahar Goel, Managing Director, Dish TV, said, While the distribution industry remained on tenterhooks preparing for digitization, the third quarter saw the much debated compulsory switch off of analog television signals take place in key metro markets. Although lack of execution in Chennai and Kolkata was a dampener, festival demand coupled with mandatory conversion in Delhi and Mumbai brought the DTH industry back to the 1 million plus monthly run-rate. DTH garnered around 35% share of incremental additions post the sunset date.
In line with our expectation, we witnessed significant subscriber uptake around the sunset date of 31st October. Dish TV achieved the largest share of 28% amongst DTH platforms in the digitization territories. 'Dish+', India's first standard definition recorder, played its part in differentiating and attracting consumer interest in a crowded market, Mr. Goel added.
Commenting on the company's third quarter performance, Mr. Goel said, A larger base did create pressure on the average revenue per user which, primarily supported by price hike in the second quarter, increased marginally to Rs 160. In the third quarter, apart from the usual additional spends typically experienced due to the festive season, additionally this year the company's investments to capitalize on the digitization opportunity are also reflected in higher costs during the quarter. A seasonally higher marketing expense was as per budget. Content cost for the year is expected to be within the guided range of 12% increase over the previous fiscal.
Dish TV is Asia Pacific's largest direct-to-home (DTH) company and part of India's biggest media conglomerate -- the Zee Group. Dish TV has on its platform more than 400 channels and services including 22 audio channels and over 40 HD services with more than 14.7 million gross subscribers as of 31 December 2012.