Dish TV was extremely volatile yesterday wherein it had hit the 5% UC as well as LC and then ending the day 4% higher at Rs.10.94. Today, the moment is opened for trade, it hit the 5% UC of the day at Rs.11.48 and stays frozen there.
The company ended the quarter with a 10% (YoY) decline in net revenue at Rs.836 crore and yet, it ended with a Rs.74 crore v/s net loss of Rs.35 crore and loss of Rs.1456 crore in Q4. A 16% drop in total expenses helped.
The company’s revenues during the quarter were impacted due to a higher overall churn. In addition, the YoY decline in revenues was also due to a high base effect considering the plenty of cricket and general elections related coverage on television during the first quarter of last year.
EBITDA was up 1.5% at Rs.551 crore and margins surged 350 bps to 66%.
Dish TV India continued to deleverage during the quarter by meeting its debt obligations. The closing debt at the end of the first quarter was Rs. 1474 crore, down from Rs. 1817 crore (QoQ).
Looking ahead, the company expects consumer sentiment to be more upbeat with the commencement of the cricketing season at the end of the second quarter and remain at elevated levels all through the traditionally strong third quarter.