DISH TV Announces Quarterly Results (4QFY19); Net Profit Down 1251.6%

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DISH TV Announces Quarterly Results (4QFY19); Net Profit Down 1251.6%
Mon, 27 May

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

DISH TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m15,32415,17513,988-7.8%-8.7%
Other incomeRs m12712196-20.5%-24.4%
TurnoverRs m15,45115,29614,084-7.9%-8.8%
ExpensesRs m11,3179,9999,838-1.6%-13.1%
Gross profitRs m4,0075,176-11,476-321.7%-386.4%
DepreciationRs m3,4713,5323,5931.7%3.5%
InterestRs m1,3291,3001,47613.5%11.0%
Profit before taxRs m-667464-16,449-3641.9%
TaxRs m-1,849-1,063-2,836
Profit after taxRs m1,1821,527-13,613-991.5%-1251.6%
Gross profit margin%26.134.1-82.0
Effective tax rate%277.3-228.817.2
Net profit margin%7.710.0-96.7
* 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 8.7% on a year-on-year (YoY) basis. The expenses were down by 13.1% YoY during the same period.
  • The company's operating profit declined by 386.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 82.0% in 4QFY19 as against 26.1% in 4QFY18.
  • Depreciation charges increased by 3.5% and finance costs increased by 11.0% YoY, respectively.
  • Other income declined by 24.4% YoY during the quarter.
  • Net profit for the quarter declined by 1251.6% YoY. Net profit margins during the quarter declined from 7.7% in 4QFY18 to -96.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.6% QoQ during the same period.
  • The company's operating profit declined by 321.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 82.0% in 4QFY19 as against 34.1% in 3QFY18.
  • Net profit for the quarter declined by 991.5% QoQ, while net profit margins declined from 10.0% in 3QFY18 to -96.7% in 4QFY19.

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 74.7 to Rs 32.2, registering a Loss of Rs 42.5 or around 56.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,502.7 (up 0.1%). Over the last one year it has moved up from 7,022.6 to 7,502.7, a gain of 480 points (up 6.8%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 32.2, the price to book value (P/BV) ratio of DISH TV stands at 0.5 times.

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