Den Network spurts after robust Q3 show

Den Network jumped 4.16% to Rs 70.10 after the cable distribution company posted 238.8% jump in consolidated net profit to Rs 65.57 crore on a 7.6% rise in net sales to Rs 342.18 crore in Q3 December 2020 over Q3 December 2019.

Profit before tax stood at Rs 57.47 crore in Q3 December 2020, a 47% increase over Rs 39.1 crore in Q3 December 2019. The company received a tax rebate of Rs 2.46 crore in Q3 December 2020 as against tax expense of Rs 26.8 crore in the same quarter last year.

Consolidated EBITDA grew by 12% year on year to Rs 65 crore in Q3 December 2020 from Rs 58 crore in Q3 December 2019. EBITDA margin slightly improved to 19% in Q3 December 2020 from 18% in Q3 December 2019.

On the operational front, subscription revenue fell 3% year on year to Rs 201 crore in Q3 December 2020. Placement/Marketing income grew by 22% YoY to Rs 106 crore in Q3 December 2020. Activation revenue jumped 58% to Rs 28 crore in Q3 December 2020 from Rs 18 crore in Q3 December 2019.

Den Networks is a leading Cable TV Distribution company in the country with a wide gamut of services including Cable TV and Broadband.

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