Dish TV up 1%; reports Q1 profit at Rs 27.9cr, CLSA retains buy with target of Rs 100

According to CLSA, a positive ARPU surprise led by price hike. The merger synergy from Videocon d2h to boost EBITDA and it forecast a 10% EBITDA CAGR over FY19-21.

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.

Brokerage: Kotak Institutional Equities | Rating: Add | Target: Rs 90

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.

Brokerage: Nomura | Rating: Neutral | Target: Rs 80

Nomura has maintained neutral call on Dish TV with a target of Rs 80 per share.

The company's revenue and EBITDA are above estimate and will watch out for sustainability of ARPU, said Nomura.

Brokerage: CLSA | Rating: Buy | Target: Rs 100

CLSA has retained buy rating on Dish TV with a target of Rs 100 per share.According to CLSA, a positive ARPU surprise led by price hike. The merger synergy from Videocon d2h to boost EBITDA and it forecast a 10% EBITDA

CAGR over FY19-21.

Brokerage: BoFA-ML | Rating: Buy | Target: Rs 90

BoFA-ML has maintained buy rating on Dish TV with a target price of Rs 90 per share.

Strong results with Revenue/EBITDA beating estimates after 3-4 quarters and company well placed to deliver strong margins led by synergy benefits, said BoFA-ML.

The research house finds valuations cheap in-context of growth.

Brokerage: Goldman Sachs | Rating: Neutral | Target: Rs 76

Goldman Sachs has maintained neutral call on Dish TV with a target of Rs 76 per share.

Goldman Sachs surprised by the magnitude of ARPU uptick, while remain uncertain on sustainability of such ARPU.

Availability of cheap data and launch of JioGigaFiber to put pressure on industry, it added.

At 09:17 hrs Dish TV India was quoting at Rs 73.95, up Rs 0.70, or 0.96 percent on the BSE.

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