Den Networks firms up after good Q2 results

Den Networks rose 3.42% to Rs 51.40 after the company announced its Q2 September 2019 results after trading hours on Friday, 11 October 2019.

On a consolidated basis, Den Networks reported a net profit of Rs 14.72 crore in Q2 September 2019 over a net loss of Rs 28 crore in Q2 September 2018. Net sales rose 7.1% to Rs 332.42 crore in Q2 September 2019 over Q2 September 2018.

The company offers cable TV and broadband distribution services. The company's cable & broadband operations covers over 500 cities/towns across 13 key states in India.

Subscription revenue of the cable TV business rose 4% to Rs 178 crore while that of the broadband business rose 6% to Rs 18 crore.

On a consolidated basis, the company's EBITDA fell 4% to Rs 48 crore in Q2 September 2019 over Q2 September 2018. EBITDA margin declined to 15% in Q2 September 2019 compared with 16% in Q2 September 2018.

As on 30 September 2019, the company's debt/equity ratio stood at 0.11 compared with 0.15 as on 30 June 2019.

Meanwhile, the S&P BSE Sensex was up 324 points or 0.85% to 38451.41.

On the BSE, 12,885 shares were traded in the counter so far compared with average daily volumes of 3,123 shares in the past two weeks. The stock hit a high of Rs 52.15 and a low of Rs 49.2 so far during the day.

The stock hit a 52-week high of Rs 98 on 23 Aug 2019. The stock hit a 52-week low of Rs 45.55 on 11 Jun 2019.

The stock has underperformed the market over the past one month, sliding 37.64% compared with 2.30% fall in the Sensex.

The scrip underperformed the market in past one quarter, falling 20.80% as against Sensex's 1.79% fall.

The scrip had also underperformed the market in past one year, declining 28.49% as against Sensex's 12.13% fall.

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