- Joined
- 16 May 2011
- Messages
- 21,066
- Reaction score
- 30,271
MUMBAI: Den Networks Limited (Den Networks) has been raking in the moolah, and how! The Indian cable TV distribution company has reported excellent results for FY 2013 and Q4-2013 as compared to the previous year and the results declared by some of the other players in the space.
While its full year consolidated PAT has jumped by 336 per cent in FY 2013 to Rs 62.31 crore vs Rs 14.28 crore in FY-2012, the PAT for its cable business more than quadrupled at 471 per cent to Rs 56.24 crore in FY-2013 vs Rs 9.86 crore in FY2012. Its PAT for Q4-2013 saw a 385 per cent jump at Rs 15.48 crore vs Rs 3.19 crore in Q4-2012.
Let's now take a look at its Q4-2013 financials as compared to Q3-2013
Consolidated Revenues for Q4-2013 were Rs 281.06 crore vs Rs 242 crore in Q3-2013, showing a 16 per cent growth Q-o-Q.
Consolidated PAT for Q4-2013 was almost flat Rs at 17.33 crore, just a per cent above Rs 17.17 crore in Q3-2013. The company says that Q4-2013 saw provisions for tax rise by Rs 6.79 crore and exceptional onetime expenses on account of impairment of investments to the extent Rs 3.12 crore.
Let's compare its financials for Q4-2013 to Q4-2012.
Note: Media Pro Enterprise India Private Limited (MediaPro) is a JV company of Star DEN Media Services Private Limited (Star DEN). DEN is a 50 percent shareholder in Star DEN. With effect from April 1 2012, MediaPro has started reporting Net Revenues (i.e. Gross Revenues less Cost of Distribution Rights paid to Broadcasters) in its standalone financial results. The same used to be reported on a gross basis in the previous quarters and financial years.
DEN's proportionate share/ interest in Media Pro is consolidated line by line in its unaudited consolidated financial results. As a result of the reporting policy change, the revenue and related expense items of MediaPro getting consolidated into DEN's unaudited consolidated financial results was less by Rs 160.04 crore in the current quarter (Q4 FY'13) and by Rs 545.57crore in the current financial year (FY'13). Thus, Income from Operations in this quarter is not comparable with past periods. However, this does not have any impact on the net consolidated results of the Company.
Consolidated revenue of Rs 281.06 crore in Q4-2013 is not comparable to figures for the corresponding quarter in Q4-2012 on account of reporting policy change at Media Pro (see note above).
PAT was Rs 17.33 crore for Q4-2013 vs. Rs 4.47 crore in Q4-2012, a 288 per cent rise Y-o-Y.
Let's compare its financials between FY-2013 and FY-2012
Consolidated full year revenues of Rs 934.64 crore in FY-2013 are not comparable to figures for the previous financial year (FY-2012) on account of reporting policy change at MediaPro (see note above)
As mentioned above, Consolidated Full Year PAT leaped 336 per cent in FY2013 to Rs 62.31 crore vs Rs 14.28 crore in FY-2012.
Let's compare the performance of its cable business between FY 2013 and FY 2012
Den Networks cable business full year revenues were up 30 percent Y-o-Y. The company clocked revenues of Rs 884.86 crore in FY-2013as against Rs 679.73 crore in FY-2012.
Also, as mentioned earlier, full year PAT for FY-2013 stood at Rs 56.24 crore vs Rs 9.86 crore in FY-2012.
Future is bright
Den Networks CEO S N Sharma said, "The ongoing digitisation drive is leading to a massive transformation across the Indian television value chain. While we are at the early stages of this transition, the benefits of digitisation for all stakeholders are already becoming evident and our performance during the past quarter reflected this. As digitisation is shifting the focus of the industry to the consumer, we are well positioned to offer even more variety and choice to our subscribers to cement the relationship with them."
A further note for cheer is that the company has managed to attract fresh investor. DEN Networks raised $160 million in fresh equity by securing an investment of $110 million from Goldman Sachs in May 2013 and an additional $50 million from a Qualified Institutional Placement (QIP) earlier.
With the government of India bent on implementation of DAS across the country, there is more than ample opportunity for organic growth as well growth through consolidation of smaller players in phase 3 and 4 of DAS. Den Networks plans to launch high speed broadband internet services in the country. Since the internet penetration in India is low vis-à-vis its population numbers, this is another addition to its portfolio that portends an even brighter future for the company.
Indiantelevision.com > News Headlines > Den rakes in the moolah; Cable business PAT more than quadruples in FY-2013
..
While its full year consolidated PAT has jumped by 336 per cent in FY 2013 to Rs 62.31 crore vs Rs 14.28 crore in FY-2012, the PAT for its cable business more than quadrupled at 471 per cent to Rs 56.24 crore in FY-2013 vs Rs 9.86 crore in FY2012. Its PAT for Q4-2013 saw a 385 per cent jump at Rs 15.48 crore vs Rs 3.19 crore in Q4-2012.
Let's now take a look at its Q4-2013 financials as compared to Q3-2013
Consolidated Revenues for Q4-2013 were Rs 281.06 crore vs Rs 242 crore in Q3-2013, showing a 16 per cent growth Q-o-Q.
Consolidated PAT for Q4-2013 was almost flat Rs at 17.33 crore, just a per cent above Rs 17.17 crore in Q3-2013. The company says that Q4-2013 saw provisions for tax rise by Rs 6.79 crore and exceptional onetime expenses on account of impairment of investments to the extent Rs 3.12 crore.
Let's compare its financials for Q4-2013 to Q4-2012.
Note: Media Pro Enterprise India Private Limited (MediaPro) is a JV company of Star DEN Media Services Private Limited (Star DEN). DEN is a 50 percent shareholder in Star DEN. With effect from April 1 2012, MediaPro has started reporting Net Revenues (i.e. Gross Revenues less Cost of Distribution Rights paid to Broadcasters) in its standalone financial results. The same used to be reported on a gross basis in the previous quarters and financial years.
DEN's proportionate share/ interest in Media Pro is consolidated line by line in its unaudited consolidated financial results. As a result of the reporting policy change, the revenue and related expense items of MediaPro getting consolidated into DEN's unaudited consolidated financial results was less by Rs 160.04 crore in the current quarter (Q4 FY'13) and by Rs 545.57crore in the current financial year (FY'13). Thus, Income from Operations in this quarter is not comparable with past periods. However, this does not have any impact on the net consolidated results of the Company.
Consolidated revenue of Rs 281.06 crore in Q4-2013 is not comparable to figures for the corresponding quarter in Q4-2012 on account of reporting policy change at Media Pro (see note above).
PAT was Rs 17.33 crore for Q4-2013 vs. Rs 4.47 crore in Q4-2012, a 288 per cent rise Y-o-Y.
Let's compare its financials between FY-2013 and FY-2012
Consolidated full year revenues of Rs 934.64 crore in FY-2013 are not comparable to figures for the previous financial year (FY-2012) on account of reporting policy change at MediaPro (see note above)
As mentioned above, Consolidated Full Year PAT leaped 336 per cent in FY2013 to Rs 62.31 crore vs Rs 14.28 crore in FY-2012.
Let's compare the performance of its cable business between FY 2013 and FY 2012
Den Networks cable business full year revenues were up 30 percent Y-o-Y. The company clocked revenues of Rs 884.86 crore in FY-2013as against Rs 679.73 crore in FY-2012.
Also, as mentioned earlier, full year PAT for FY-2013 stood at Rs 56.24 crore vs Rs 9.86 crore in FY-2012.
Future is bright
Den Networks CEO S N Sharma said, "The ongoing digitisation drive is leading to a massive transformation across the Indian television value chain. While we are at the early stages of this transition, the benefits of digitisation for all stakeholders are already becoming evident and our performance during the past quarter reflected this. As digitisation is shifting the focus of the industry to the consumer, we are well positioned to offer even more variety and choice to our subscribers to cement the relationship with them."
A further note for cheer is that the company has managed to attract fresh investor. DEN Networks raised $160 million in fresh equity by securing an investment of $110 million from Goldman Sachs in May 2013 and an additional $50 million from a Qualified Institutional Placement (QIP) earlier.
With the government of India bent on implementation of DAS across the country, there is more than ample opportunity for organic growth as well growth through consolidation of smaller players in phase 3 and 4 of DAS. Den Networks plans to launch high speed broadband internet services in the country. Since the internet penetration in India is low vis-à-vis its population numbers, this is another addition to its portfolio that portends an even brighter future for the company.
Indiantelevision.com > News Headlines > Den rakes in the moolah; Cable business PAT more than quadruples in FY-2013
..
