Dish TV to proceed with Videocon D2H merger

After evaluating the consequences of parent company Videocon's insolvency proceedings, Dish TV India has decided to proceed with the merger with Videocon D2H. The stock was trading among the top gainer in the morning session. 

The company has appointed two directors to the board of Videocon D2H Limited to aid the integration of the two businesses. Earlier in January, Dish TV had said that it was evaluating the impact of insolvency proceedings against the Videocon Group companies.

On the financial front, the company posted weak results with revenues down 1 per cent at Rs. 741 crore as against Rs. 748 crore for the corresponding quarter in the year-ago period. The company registered a net loss of Rs 0.75 crore as against net profit of Rs. 10 crore. EBITDA was down 15 per cent at Rs. 201 crore as against Rs. 237.5 crore with a margin of 27.1 per cent as against 31.8 per cent.

At 11:06 hours, the stock of Dish TV India was trading at Rs. 74.90 per share, up 1.42 per cent on Wednesday.