Dish TV India has dipped 6% at Rs 72.90 after reporting a net loss of Rs 44.89 crore for the third quarter ended December 31, 2012 (Q3) against profit of Rs 55 crore in previous quarter due to higher programming, content and other costs. Analysts on an average expected loss of Rs 22 crore from broadcasting and cable TV operator.
“Total income from operation grew 4.3% quarter-on-quarter at Rs 558 crore, while expenditure increased by 11% at Rs 420 crore on sequential basis,” Dish TV said in a statement.
EBITDA (earnings before interest, taxes, depreciation, and amortization) or operating profit declined by 11.5% at Rs 1,377 crore and margin contracted 450 points at 24.69% during the recently concluded quarter.
“In the third quarter, apart from the usual additional spends typically experienced due to the festive season, additionally this year the company’s investments to capitalize on the digitization opportunity are also reflected in higher costs during the quarter,” said Jawahar Goel, managing director, Dish TV.
The stock opened at Rs 77.80 and hit a low of Rs 71.60 on NSE. A combined 10.52 million shares have changed hands on the counter so far on both the exchanges.
