Dish TV turns profitable in Q2 on exceptional gain

Dish TV  , India's only listed direct-to-home company, has reported profit of Rs 55 crore in the quarter ended September 2012 as against loss of Rs 32.3 crore in the previous quarter. The profit was driven by exceptional gain of Rs 76 crore during the quarter.

After removing that exceptional gain, the net loss stood at Rs 21 crore, which has been declining on quarter-on-quarter basis. The company also reversed finance costs of Rs 94.4 crore during the quarter.

Total income from operations rose by 2.6 percent to Rs 533.6 crore in the three months ended September 2012 from Rs 520 crore in the June quarter.

Operating profit margin fell by 80 basis points to 29.1 percent from 29.9 percent QoQ.

Other income was down to Rs 8 crore from Rs 20.5 crore during the same period.

Dish TV said would seek shareholder approval for raising up to USD 200 million.

At 14:01 hours IST, the share, which gained 2.9 percent before the results, was down 0.81 percent to Rs 79.80 after results declared.

Source: www.moneycontrol.com

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