Buy Zee Entertain, says SP Tulsian

Tulsian told CNBC-TV18, “ Dish TV results have seen the profit before tax if I take that there is a drop of about losses or losses have curtailed by about Rs 17 crore but we have seen the equivalent amount getting reduced on the depreciation account also and due to the digitization move there was quite a good demand for the Dish TV also because I think that many of the subscriber wanted to cash the 30th June deadline and all of them had not gone from analog to digitization.”

He further added, “Many of them gone for the Dish also, so you have the- I am not too happy because if you see the interest burden rightly that has increased by about Rs 12-13 crore for Dish TV and the corresponding savings have been seen in the depreciation part as I said but the overall PBT is lower by Rs 17 crore in the same proportion. In fact I was expecting the better results maybe if you see on the EBITDA front also Rs 155 crore EBITDA against Rs 145 crore having reported for the Q4, I am taking a sequential call on the stock. I am not too enthuse but market is giving thumbs up to the results and in fact I probably will be taking this as a flat to neutral and coming straight way on Zee Entertain I think that company looks to be better maybe going ahead and I will probably be looking to go for the profit booking in case of Dish TV and take a buy call on Zee.”