Dish TV is India’s largest DTH service provider in India and is a division of Zee Entertainment Enterprises. Dish TV share price has been steadily surging after it announced its merger with Videocon d2h. There are no near-term benefits for Dish TV shareholders and there would not be any instant gains because the deal has not come cheap. Given the share-swap ratio, which will involve offering 85.8 million new shares to d2h shareholders, the deal assigns an equity value for d2h at Rs 7,500 crore and an enterprise value (EV) of Rs 9,042 crore.
On the back of the merger, Dish TV share price surged 9 per cent intraday to trade at the intraday high of Rs. 89. The stock had opened at Rs. 82.85.
Also, the leading Indian direct-to-home (DTH) player Dish TV has posted a net profit of Rs 70.1 crore for the quarter ended September 30, 2016, down 19.4 per cent from Rs 86.9 crore in the same quarter last financial year. The DTH operator has added 259,000 fresh subscribers during the quarter, taking its net subscriber base at 15.1 million.
Today, Dish TV share price closed at Rs. 87.80, up by 7.59 per cent. The stock had previously closed at Rs. 81.70.
Dish TV also reported consolidated subscription revenues of Rs 728.8 crore, up 11.9% Y-o-Y and operating revenues of Rs 779.3 crore, up 9.6 per cent. EBITDA for the quarter stood at Rs 264.2 crore, compared to Rs 255 crore in the corresponding quarter last fiscal. EBITDA margin stood at 33.9 per cent. The company has created a free cash flow of Rs 79.1 crore during the quarter, while its gross debt stood at Rs 1,350 crore as of September 30.
Dish TV is identified among the top 500 performing stock for the quarter by Dynamic Levels. For the details on the stock, visit Dish TV share price history page of Dynamic Levels website.
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