DISH TV Announces Quarterly Results (2QFY19); Net Profit Up 210.4%

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DISH TV Announces Quarterly Results (2QFY19); Net Profit Up 210.4%
Fri, 9 Nov

DISH TV has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

DISH TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,48616,55615,943-3.7%113.0%
Other incomeRs m77157147-6.7%90.5%
TurnoverRs m7,56316,71416,090-3.7%112.7%
ExpensesRs m5,32510,98910,537-4.1%97.9%
Gross profitRs m2,1615,5685,406-2.9%150.2%
DepreciationRs m1,8993,6083,6751.9%93.6%
InterestRs m6111,7751,592-10.3%160.5%
Profit before taxRs m-272342286-16.2%
TaxRs m-9387892.4%
Profit after taxRs m-179255197-22.6%
Gross profit margin%28.933.633.9
Effective tax rate%34.325.431.0
Net profit margin%-2.41.51.2
* 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 grew 113.0% on a year-on-year (YoY) basis. The expenses were up by 97.9% YoY during the same period.
  • The company's operating profit increased by 150.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.9% in 2QFY19 as against 28.9% in 2QFY18.
  • Depreciation charges increased by 93.6% and finance costs increased by 160.5% YoY, respectively.
  • Other income increased by 90.5% YoY during the quarter.
  • Net profit for the quarter increased by 210.4% YoY. Net profit margins during the quarter increased from -2.4% in 2QFY18 to 1.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.1% QoQ during the same period.
  • The company's operating profit increased by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.9% in 2QFY19 as against 33.6% in 1QFY18.
  • Net profit for the quarter declined by 22.6% QoQ, while net profit margins declined from 1.5% in 1QFY18 to 1.2% in 2QFY19.

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 up from Rs 76.0 to Rs 41.8, registering a Loss of Rs 34.3 or around 45.1%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,090.2 (down 1.3%). Over the last one year it has moved up from 6,131.5 to 7,090.2, a gain of 959 points (up 15.6%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 41.8, the price to earnings (P/E) ratio of DISH TV stands at 27.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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