DISH TV Announces Quarterly Results (1QFY20); Net Profit Down 239.1%

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DISH TV Announces Quarterly Results (1QFY20); Net Profit Down 239.1%
Wed, 31 Jul

DISH TV has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

DISH TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m16,55613,9889,263-33.8%-44.1%
Other incomeRs m1579646-51.9%-70.6%
TurnoverRs m16,71414,0849,309-33.9%-44.3%
ExpensesRs m10,9899,8383,903-60.3%-64.5%
Gross profitRs m5,568-11,4765,361-3.7%
DepreciationRs m3,6083,5933,6291.0%0.6%
InterestRs m1,7751,4761,468-0.6%-17.3%
Profit before taxRs m342-16,449310-9.3%
TaxRs m87-2,836664666.1%
Profit after taxRs m255-13,613-354-239.1%
Gross profit margin%33.6-82.057.9
Effective tax rate%25.417.2214.4
Net profit margin%1.5-96.7-3.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 44.1% on a year-on-year (YoY) basis. The expenses were down by 64.5% YoY during the same period.
  • The company's operating profit declined by 3.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.9% in 1QFY20 as against 33.6% in 1QFY19.
  • Depreciation charges increased by 0.6% and finance costs declined by 17.3% YoY, respectively.
  • Other income declined by 70.6% YoY during the quarter.
  • Net profit for the quarter declined by 239.1% YoY. Net profit margins during the quarter declined from 1.5% in 1QFY19 to -3.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 33.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 60.3% QoQ during the same period.
  • The company's operating profit increased by 146.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.9% in 1QFY20 as against 82.0% in 4QFY19.
  • Net profit for the quarter increased by 97.4% QoQ, while net profit margins increased from -96.7% in 4QFY19 to -3.8% in 1QFY20.

To see how DISH TV has performed over the last eight quarters,please visit here.

DISH TV Share Price Performance

Over the last one year,DISH TV share price has moved down from Rs 65.7 to Rs 28.0, registering a Loss of Rs 37.7 or around 57.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,567.9 (down 1.4%). Over the last one year it has moved up from 7,383.6 to 7,567.9, a gain of 184 points (up 2.5%).

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 28.0, the price to book value (P/BV) ratio of DISH TV stands at 0.4 times.

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