Shares of DishTV today tanked over 11 per cent after the company reported a consolidated net loss of Rs 28.33 crore for the March quarter of last fiscal. The stock plummeted 11.21 per cent to end at Rs 81.55 on BSE. During the day, it nosedived 15.89 per cent to Rs 77.25. On NSE, the stock crashed 10.53 per cent to Rs 81.55. The company’s market valuation declined by Rs 1,097.30 crore to Rs 8,692.70 crore.
On the volume front, 26.54 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day. Direct-to-home operator DishTV yesterday reported net loss, on consolidated basis, of Rs 28.33 crore for the fourth quarter ended March 31, hit by revenue fall. It had posted a net profit of Rs 482.77 crore in the January-March of the previous fiscal, 2015-16.
Total income from operations was down 12.44 per cent at Rs 718.98 crore during the quarter under review as against Rs 821.15 crore in the year-ago period. Dish TV’s total expenses were at Rs 748.07 crore, up 0.91 per cent, as against Rs 741.28 crore of Q4 of FY 2015-16.