Den Networks Q4 PAT drops 41% YoY to Rs 79 cr

The cable TV distributor's consolidated net profit tumbled 40.78% to Rs 79.06 crore on 8.8% decline in revenue from operations to Rs 258.02 crore in Q4 FY24 over Q4 FY23.

Profit before tax zoomed 120.03% to Rs 68.78 crore in Q4 FY24 from Rs 31.26 crore recorded in the same period a year ago.

EBITDA stood at Rs 40 crore in the fourth quarter of FY24, down 2% as against Rs 36 crore reported in Q4 FY23. EBITDA margin improved to 16% in Q4 FY24 as against 13% registered in Q4 FY23.

The company's revenue from cable distribution network business was at Rs 245.76 crore (down 10.18% YoY) while revenue from broadband business came in at Rs 12.26 crore (up 31.97% YoY) during the period under review.

Subscription revenues fell 8% YoY to Rs 132 crore during the quarter. Placement/ marketing income declined marginally to Rs 112 crore in Q4 FY24 from Rs 113 crore reported in Q4 FY23. Activation revenues slipped 35% YoY to Rs 7 crore in Q4 FY24.

On full year basis, the companys consolidated net profit declined 11.61% to Rs 214.65 crore on 4.4% fall in revenue to Rs 1,080.75 crore in FY24 over FY23.

As on 31 March 2024, cash and cash equivalents stood at Rs 2,931 crore as against Rs 2,892 crore as on 31 March 2023.

Meanwhile, the companys board approved the appointment of Omesh Uppal as the chief operating officer of the company with effect from 16 April 2024.He is a media professional with experience of over 27 years across broadcast media & digital entertainment and fast-moving consumer goods sectors.

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.

The scrip rose 1.31% to end at Rs 50.41 on the BSE yesterday. The domestic equity markets is shut today on account of Ram Navami.

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