EBITDA comes in above estimates: Dish TV (DITV) delivered healthy EBITDA growth of 7% QoQ (-18% YoY) to INR2.2b in 2QFY18, 4% above our estimate. Revenue grew 1% QoQ to INR7.5b, supported by a 2% improvement in subscription revenue. EBITDA margin improved 160bp QoQ, led by lower SG&A; costs, partly offset by higher transponder cost. Improving operating environment: EBITDA margin was also aided by the gradually reducing churn. Net subscriber addition stood at 188,000 to reach 15.9m (+1% QoQ), while ARPUs strengthened to INR149 v/s INR148 in the...