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Dish TV India gains after Jawahar Lal Goel steps down as MD

Dish TV India added 3.99% to Rs 12.52 after the company said that basis the votes casted by the shareholders at the EGM, Jawahar Lal Goel has vacated the office of the managing director of the company.

June 27, 2022 2:01 IST | capital market
He will continue as the non-executive director of the company, in terms of the applicable regulatory provisions. The companys extraordinary general meeting (EGM) was held on 24 June 2022. As per the regulatory filing by the DTH operator, only 21.05% of the total votes polled were in favor of Goels reappointment for three more years. A total of 1,285,446,844 votes were polled at the EGM. Further, the proposals for the re-appointment of Anil Kumar Dua as a whole-time director of the company and the appointment of Rajagopal Chakravarthi Venkateish as an independent director of the company have not received the requisite majority at the EGM. Anil Kumar Dua will continue as the chief executive officer of the company. Dish TV India (DTIL), a part of the Essel group of companies, is Indias first direct-to-home (DTH) company to launch its service in 2003. Effective 22 March 2018, Videocon d2h (which launched its service in 2009) has been amalgamated with and into Dish TV India, with 01 October 2017 being the appointed date. The company reported a consolidated net loss of Rs 1997.60 crore in the quarter ended March 2022 as against a net loss of Rs 1408.65 crore during the previous quarter ended March 2021. Sales declined 14.51% YoY to Rs 642.70 crore in Q4 FY22. Powered by Capital Market - Live News

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