Den Networks gains as Q2 PAT rises 20% YoY to Rs 47 Cr

Den Networks rose 2.26% to Rs 34 after the cable TV distributor reported a 20.6% rise in consolidated net profit to Rs 47.51 crore despite of 11.6% fall in net sales to Rs 287.30 crore in Q2 FY23 over Q2 FY22.

Consolidated profit before tax jumped 25.9% to Rs 48.57 crore in Q2 FY23 from Rs 38.57 crore in Q2 FY22. Total expenses declined 11.43% to Rs 277.92 crore in Q2 FY23 over Q2 FY22.

EBITDA dropped 25% to Rs 38 crore in Q2 FY23 from Rs 50 crore posted in the same quarter previous year. EBITDA margin decreased to 13% in Q2 FY23 compared with 16% in Q2 FY22. As on Q2 FY23, cash and cash equivalents stood at Rs 2,580 crore.

The company's revenue from cable distribution network business stood at Rs 276.6 crore (down 10.1% YoY) while its revenue from broadband business was at Rs 10.6 crore (down 38.35% YoY) during the period under review.

Subscription revenues fell 1% QoQ and 13% YoY to Rs 159 crore in the quarter ended September 2022. Placement/Management income increased by 15% QoQ and 2% YoY to Rs 100 crore while Activation revenues declined by 31% QoQ and 37% YoY to Rs 13 crore in the quarter ended September 2022.

Den Networks is a leading Cable TV distribution company in the country with a wide gamut of services. DEN's 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.

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