Dish TV India Ltd's Q3FY19 consolidated net profit rises to Rs162cr from Rs25cr qoq : Misses Estimates

The company’s consolidated revenue stood at Rs1,517cr, down 4.8% qoq.

February 06, 2019 8:57 IST | India Infoline Research Team

Dish TV India Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 QoQ (%)
Revenue 1,517.45 [4.8]
EBITDA 517.59 [4.3]
EBITDA Margin (%) 34.1 20
Net Profit (adjusted) 161.66 534.2
***EBITDA margin change is bps

Dish TV India Ltd’s revenue declined by 4.8% qoq to Rs1,517cr. EBITDA came in at Rs518cr, down 4.3% qoq. EBITDA margin expanded by 20bps qoq to 34.11%. Company’s adjusted Net profit stood at Rs162cr vs. Rs25cr qoq. EBITDA came below estimate of Rs534cr. 

• Net subscriber addition stood at 0.1mn. Total subscribers reached to 23.6mn.
• Subscription revenue stood at Rs1,413cr vs. Rs1,454cr qoq.
• Average revenue per user (ARPU) for the quarter leaped to Rs200 from Rs207 qoq.
• Operating expenses stood at 53.5% of the revenue vs. 54.2% qoq, weighing on the EBITDA margin.
• Employee benefit expenses stood at 4% of the revenue vs. 3.9% qoq.
• Other expenses stood at 8.2% of the revenue vs. 7.8% qoq.

Technical View:

Dish TV India Ltd is currently trading at Rs. 23.90, up by 1.15 points or 5.05% from its previous closing of Rs. 22.75 on the BSE.
The scrip opened at Rs. 23.60 and has touched a high and low of Rs. 24 and Rs. 23.10 respectively. So far 53,38,101 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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