Dish TV India has rallied 9% to Rs 60 on reporting a healthy 60% year-on-year (y-o-y) growth in standalone operating profit at Rs 144 crore for the fourth quarter ended March.
The operating profit margins improved by more than 600 bps to 27.5% from 20.83% during the recently concluded quarter. Net sales grew 21% at Rs 525 crore on year-on-year basis.
India’s leading direct-to-home (DTH) service provider however, posted a net loss of Rs 49 crore in the March quarter, impacted by foreign exchange loss of Rs 6.5 crore.
Meanwhile, the company added 4.15 million new subscribers in the quarter ended March 31, 2012 achieving a total of 12.9 million gross and 9.6 million net subscribers at the end of the period.
The stock has opened at Rs 55.80 and hit a high of Rs 60.25 on the National Stock Exchange. As many as a combined 7.4 million shares have already changed hands on the counter till early noon trades, against an average around 3.3 million shares that were traded daily in past ten trading days on the NSE and BSE.