Den Network net profit down in Q2 FY 19-20

Den Network on Friday declared its financial results for the period ending September 30, 2019. The company posted consolidated subscription revenues of Rs 195.7 crores in 2Q’20 as compared to Rs 188.5 crores in the previous quarter ended June 30, 2019.

The consolidated revenue stood at Rs 332.4 crores in 2Q’20 as compared to Rs 313.2 crores in the previous quarter ended June 30, 2019. EBIDTA stood at Rs 48.2 crores as opposed to Rs 41.3 crores in the previous quarter.

Cable segment registered Rs 178.3 crores subscription revenue up by Rs 7.3 crores from Q1 FY 19-20. The broadband segment saw a marginal decrease in revenue to Rs 17.3 crores from Rs 17.5 crores in the quarter ended June 30, 2019.

The company registered Rs 9.6 crores as profit after tax down from Rs 14.5 crores profit in the previous quarter. Cable segment growth in revenue along with an increase in expenditure for provision for doubtful debts.

At the time of going to press Den Network Ltd’s stock was trading at Rs 49.70, up by Rs 0.45 or 0.91% as against a previous close of Rs 49.25 on the BSE. Den Networks is a leading Cable TV Distribution company in the country with a wide gamut of services including Cable TV and Broadband