Den Network on Thursday declared its financial results for the period ending June 30, 2019. The company has posted a net profit of Rs 179.78 million for the period ending June 30, 2019.
The company’s total income increased by Rs 633 million in Q1 FY 19-20 as compared to the quarter ending March 31, 2019. While content cost saw an upward trajectory, placement fees were reduced.
Profit before exceptional items stood at Rs Rs 170.9 million as compared to a net loss of Rs 6.48 million in the preceding quarter. Broadband segment revenue is almost the same as last quarter, with the only difference of Rs 0.11 million.
Revenue from the cable segment increased from Rs 2,551 million in Q4 FY 18-19 to Rs 2,951 million in Q1 FY 19-20. Consolidated subscriptions grew at 7% as compared to the last quarter. Consolidated revenue grew at double the pace. Consolidated EBIDTA grew at 10%.
The company followed other cable operators reporting an increase in subscription revenue. GTPL Hathway and Hathway Bhawani have also posted an increase in subscription revenue.
Den’s stock rallied after the release of the result. At the time of going to press Den’s stock was trading at Rs 62.75, up by Rs 6.75 or 12.05 % as against a previous close of Rs 56 on the BSE.
