Dish TV nosedives after reverse turnaround in Q4

Dish TV India plunged 11.11% to Rs 81.65 at 10:11 IST on BSE after the company reported consolidated net loss of Rs 28.33 crore in Q4 March 2017, compared with net profit of Rs 482.77 crore in Q4 March 2016.

The result was announced after market hours yesterday, 24 May 2017.

Meanwhile, the S&P BSE Sensex was up 127.60 points or 0.42% at 30,429.24. The S&P BSE Mid-Cap index was up 60.42 points or 0.43% at 14,098.12.

On the BSE, 6.84 lakh shares were traded on the counter so far as against the average daily volumes of 7.82 lakh shares in the past one quarter. The stock had hit a high of Rs 87.50 and a low of Rs 81.30 so far during the day.

The stock had hit a 52-week high of Rs 110.95 on 28 March 2017 and a 52-week low of Rs 76.90 on 9 November 2016. It had underperformed the market over the past one month till 24 May 2017, sliding 1.82% compared with the Sensex's 2.18% rise. The scrip had also underperformed the market over the past one quarter, declining 1.76% as against the Sensex's 4.88% rise.

The mid-cap company has equity capital of Rs 106.60. Face value per share is Rs 1.

Dish TV India's consolidated net sales declined 11.4% to Rs 708.57 crore in Q4 March 2017 over Q4 March 2016.

Dish TV is a leading direct-to-home (DTH) company and part of one of India's biggest media conglomerate - the Zee Group.

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