Shares of Dish TV fails to deliver at the markets despite stellar set of earnings

Shares of Dish TV India came under a bit of selling pressure despite a stellar set for earnings which saw the TV channels provider swinging to a quarterly profit on the back of higher sales.

Dish TV, part of the Essel Group, said its first quarter Net Profit stood at 54.2 crore rupees compared with a loss of 14.9 crores in the same quarter a year ago. Sales during April-June gained 19 percent to 737 crore rupees from 618 crore rupees in the year ago period.

Dish TV fell 2 percent, or 2.25 rupees, to 115.50 rupees on the National Stock Exchange, where 2 crore shares were traded compared with the 5-day average of 62 lakhs.

Dish TV's market capitalisation has nearly doubled to 12,200 crore rupees over the past one year as investors anticipated this swing to profit.

(Image credits: Indiatimes)