Dish TV India breaches lower circut after Q4 loss

Priya sundarajan Updated - January 12, 2018 at 01:47 PM.

Shares of Dish TV India Ltd breached their lower circuit to hit a low of Rs 81.30 on the BSE.

At about 10.30 am, the stock was quoting at Rs 82.20, down Rs 9.65 or 10.51 per cent.

DishTV reported a consolidated net loss of Rs 28.33 crore for the fourth quarter ended March 31.The company had posted a net profit of Rs 482.77 crore in January-March a year ago,

Total income from operations was down 12.44 per cent at Rs 718.98 crore during the quarter under review as against Rs 821.15 crore in the corresponding quarter a year ago.

Dish TV’s total expenses were at Rs 748.07 crore, up 0.91 per cent, as against Rs 741.28 crore of Q4 of FY 2015—16.

“Subscription revenues during the quarter were lower by 11.1 per cent compared to the same quarter last year mainly due to the absence of a major cricketing event as well as package down gradation by existing subscribers,” said Dish TV in a statement.

Resultantly, average revenues per user (ARPU) declined as well.

“Higher transponder cost, due to additional capacity acquired during the quarter, led to an increase in overall COGS. Mark—to—market losses, due to foreign exchange fluctuations, resulted in higher Other Expenses during the quarter,” it added.

For the entire 2016—17 fiscal, Dish TV’s net profit stood at Rs 109.28 crore, down 84.21 per cent, from Rs 692.42 crore in the previous fiscal.

Its revenue from operations for the fiscal stood at Rs 3,061.90 crore, down 1.98 per cent, compared to Rs 3,123.98 crore in the previous year.

“Trail impact of demonetisation in Q4 was expected," analysts at Investec Securities write, adding: “Dish has underperformed its peers significantly in Q4"

The stock was on track for a sixth consecutive session of declines.

Published on May 25, 2017 05:04