Den cable biz Q2 net down 65% to Rs 26.9 mn

MUMBAI: Sameer Manchanda-promoted Den Networks‘ cable business has posted a 65 per cent drop in its net profit for the second quarter of the fiscal ended 30 September.

The multi-system operator (MSO) with a pan-India footprint has posted a net profit of Rs 26.9 million compared to Rs 77 million in the year-ago period from the cable business. In the trailing quarter, the net profit was at Rs 8.8 million.

Total revenue during the quarter jumped 18 per cent to Rs 1.63 billion as against Rs 1.39 billion in the corresponding quarter of the previous fiscal. In the three-month period ended 30 June, the revenue was at Rs 1.57 billion.

Expenditure stood at Rs 1.34 billion compared to Rs 1.32 billion in the fiscal first-quarter.

Den‘s profit from operations before other income, interests and exceptional items (Ebitda) at Rs 284.7 million was up 5 per cent compared to the year ago period, while in the trailing quarter Ebitda was at Rs 261.1 million.

Den said that it is focusing on growing its market shares in towns it has entered recently, namely in West Bengal, Jharkhand and Bihar. It is investing in upgrading existing networks and is getting the digital infrastructure in place.

As of 30 September, Den has spent Rs 2.68 billion out of Rs 3.64 billion that it had raised from the IPO.

Den has total investment of Rs 3.84 billion in subsidiaries and joint ventures.