Den Networks tanks after announcing Q4 numbers

Den Networks tumbled 8.11% to Rs 89.50 at 10:10 IST on BSE after the company reported consolidated net loss of Rs 60.55 crore in Q4 March 2017, compared with net loss of Rs 210.30 crore in Q4 March 2016.

The result was announced after market hours yesterday, 22 May 2017.

Meanwhile, the S&P BSE Sensex was down 134.08 points or 0.44% at 30,436.89. The S&P BSE Small-Cap index was down 384.65 points or 2.56% at 14,669.49.

On the BSE, 62,000 shares were traded on the counter so far as against the average daily volumes of 1.41 lakh shares in the past one quarter. The stock had hit a high of Rs 98.80 and a low of Rs 82.35 so far during the day.

The stock had hit a 52-week high of Rs 105 on 3 May 2017 and a 52-week low of Rs 60.85 on 30 November 2016. It had underperformed the market over the past one month till 22 May 2017, sliding 1.72% compared with the Sensex's 4.11% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 22.21% as against the Sensex's 5.91% rise.

The small-cap company has equity capital of Rs 194.03 crore. Face value per share is Rs 10.

Den Networks' consolidated total income rose 18.74% to Rs 328.69 crore in Q4 March 2017 over Q4 March 2016.

The company said it has focused hugely on cash collections during the year (FY 2017) which has brought down the net debt of the company to Rs 181 crore as at 31 March 2017, thereby deleveraging the balance sheet of the company.

Den Networks is India's leading cable TV distribution company.

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