DEN Networks Q2 FY 21 net profit slips to Rs 36.71 crore

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DEN Networks yesterday reported the financial results for the quarter ending September 30, 2020, posting a net profit of Rs 36.71 crore, down from Rs 58.32 crore net profit in the previous quarter.

The company’s revenues increased from Rs 364.4 crore in the previous quarter to Rs 378.8 crore in Q2 FY 21. The company’s net expenses in Q2 FY 21 stood at Rs 338 crore up from Rs 302.95 crore in the preceding quarter.

The net profit stood at Rs 36.71 crore, down from Rs 58.32 crore in the preceding quarter. DEN Network’s cable distribution network segment revenue stood at Rs 318.8 crore in Q2 FY 21, up from Rs 284.4 crore in the previous quarter.

The segment result for the cable distribution network stood at Rs 3.599 crore in Q2 FY 21, down from Rs 6.933 crore in the previous quarter.

DEN Network’s board of directors had on 17th February 2020 approved the composite scheme of amalgamation and arrangement between DEN Networks Limited, Network18 Media & Investments Limited, Hathway Cable and Datacom Limited, TV18 Broadcast Limited, Media18 Distribution Services Limited, Web18 Digital Services Limited, and Digital18 Media Limited for which the parent company has applied to stock exchanges for obtaining ‘No Objection’ on the scheme.

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