Dish TV is the top gainer on the BSE since opening bell. The stock price surged over 9.5% to Rs.24.95 and continues to hover around the Rs.24 levels.
The company posted a turnaround – compared to net loss of Rs.168 crore posted in previous Q3, it ended current Q3 with a net profit at Rs.153 crore. This was despite an over 6.5% (YoY) drop in total income at Rs.1529 crore.
What helped recoup was the 10% drop in total expenses. Overall cost of goods and services was down 4%, Personnel costs was down 10% while Finance cost was lower by 9% as debt repayments continued as per schedule. The company aims to be debt free in two years.
The company said that the TRAI tariff order implementation getting pushed back by a month to February 1, 2019, hit the subscription recharge due to ambiguity and indecisiveness on the part of the subscribers.
The company added 1.42 lakh subscribers in Q3 and its total tally of net subscriber base is at 2.36 crore. Yet, its subscription revenue was down 2% at Rs.1413 crore.
Its EBITDA was up 4% at Rs.518 crore while margins showed a 330 bps jump to 34.1%.
Its Board yesterday also approved an investment of Rs 3,000 crore in its wholly-owned subsidiary Dish Infra Services.