Den Network Q1 profit declines 17% at Rs 10 cr

Company posted profit of Rs 12 cr in the April-June period of 2012-13 fiscal

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Cable television services firm Den Networks Ltd today reported 17% decline in consolidated net profit at Rs 10.15 crore for the first quarter ended June 30, 2013.

The company had posted profit of Rs 12.23 crore in the April-June period of 2012-13 fiscal.

The company's Q1, 2013-14, income from operations increased to Rs 265.62 crore, from Rs 194.35 crore in the year-ago period, Den Networks said in a filing to the BSE.

The company's CEO S N Sharma said it has successfully implemented digitisation in the cities under phase 2.

"The overall response from consumers is extremely positive as they can now clearly perceive the benefits of digital and the superior experience associated with it," he said.

On the outlook, he said the major focus areas now are the completion of package selection by subscribers, collection of KYC data and the start of retail consumer billing, which are being spurred on by MSOs with a strong regulatory backing.

"We are also drawing up plans for digitising our analog base in phase 3 and 4 cities while gearing up for our broadband foray," said Sharma.

Den Networks scrip closed at Rs 169.30, up 7.05%, on the BSE.