On a consolidated basis, Den Networks’ net profit tanked 30% to Rs 41 crore on 1% increase in revenue to Rs 303 crore in Q1 June 2021 over Q1 June 2020.
Revenue from subscription stood at Rs 185 crore in Q1 FY22, a decline of 13% year-on-year (YoY)and a decline of 2% quarter-on-quarter (QoQ). Activation revenues were at Rs 21 crore in Q1 FY22, a decline of 12% YoY and a decline of 40% QoQ.
Profit before tax skid 30% to Rs 41 crore in Q1 FY22 as against Rs 59 crore in Q1 FY21. EBITDA dropped 25% to Rs 48 crore in Q1 FY22 as against Rs 64 crore in Q1 FY21. EBITDA margin stood at 16% during the quarter compared with 21% during the corresponding quarter last year.
Sequentially, the company’s net profit rose 21% while revenue decline 7% in Q1 FY22 over Q4 FY21.
Den Networks is a leading cable TV distribution company in the country with a wide gamut of services including Cable TV and Broadband. Its cable operations covers over 500+ cities/towns across 13 key states (Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand) in India.
Shares of Den Networks lost 0.45% to close at Rs 55.20 on Friday. Business Standard