Shares of Dish TV India added over 1 percent in the opening trade on Tuesday as company reported profit for the Quarter ended June 2018 (Q1FY19).
The company’s Q1 consolidated net profit was at Rs 27.87 Crore against loss of Rs 11.67 crore in the same quarter last fiscal.
Revenue was at Rs 1,655.6 crore against Rs 738.88 crore.
Kotak Institutional Equities has maintained add rating on Dish TV and target price raised to Rs 90 from Rs 84 per share.
The company has reported a well-rounded quarter, driven by ARPU growth, while merger synergy will further boost earnings in coming quarters.
The research house raised FY19-21 EBITDA estimates by 3-4 percent.
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