Dish TV posts Q3 net loss at Rs 44.8 cr; shares dive 6%

India's first direct to home (DTH) service provider Dish TV recorded higher than expected net loss at Rs 44.8 crore in the third quarter of financial year 2012-13 as against net profit of Rs 55 crore in previous quarter, sending shares down more than 6 percent intraday on Tuesday.

In July-September quarter, the company had reported profit due to exceptional gain. After excluding that exceptional gain, the loss stood at Rs 21.3 crore in second quarter.

Total income grew by 4.6 percent quarter-on-quarter, in-line with expectations - to Rs 557.8 crore from Rs 533.3 crore during the same period.

Analysts on an average were expecting a net loss at Rs 20.6 crore and total income from operations at Rs 559 crore for the quarter.

Analysts on an average were expecting a net loss at Rs 20.6 crore and total income from operations at Rs 559 crore for the quarter.

Dish TV disappointed the street on every parameter. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 11.4 percent QoQ to Rs 137.4 crore and EBITDA margin dropped 450 basis points QoQ to 24.6 percent in October-December quarter. Analysts were expecting EBITDA at Rs 161 crore and margin at 28.8 percent.

Average revenue per user increased to Rs 160 from Rs 159 QoQ.

Subscription revenue stood at Rs 494.3 crore, rising marginally compared to Rs 492 crore during the same period. Subscriber acquisition cost was Rs 2,201 in the third quarter as against Rs 2,273 in previous quarter.

Shares lost 5.67 percent to Rs 73.15 amid large volumes at 14:49 horus IST on Bombay Stock Exchange.

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