Shares of Dish TV today settled with gains of 1.6 per cent as the September quarter earnings of the direct-to-home operator were in line with market expectations.
Dish TV reported a consolidated net loss of Rs 17.87 crore for the second quarter of this fiscal.
During the day, the stock witnessed volatile trading and touched an intra-day high of Rs 83.10 and a low of Rs 78.30. At the end of today's trading session, the stock was quoted at Rs 81.75, up 1.62 per cent over its previous close.
On NSE, similar movement was seen, as the stock touched an intra-day high of Rs 83.25, and a low of Rs 78.20 and finally closed at Rs 81.65, up 1.37 per cent.
According to analysts, decline of Dish TV's September quarter sales and EBITDA at 4 per cent and 18.7 per cent year-on-year respectively, was in line with expectations.
"We perceive cost synergies from the Videocon D2H merger; and Threat from Freedish is waning. However, likely Jio entry remains the key risk," brokerage firm Edelweiss said in a research note.
The company had posted a net profit of Rs 68.96 crore in the July-September quarter a year ago.
Its revenue from operations came down 3.93 per cent to Rs 748.58 crore during the quarter under review as against Rs 779.28 crore a year earlier.
Total expenses were at Rs 783.47 crore, up 5.97 per cent, as against Rs 739.31 crore.
"Average revenue per user (ARPU) strengthened to Rs 149 while churn rate recovered to close at slightly less than 0.8 per cent per month," the company said.