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Den Networks spurts after robust Q1 performance

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Den Networks jumped 8.03% to Rs 107.65 after the company's consolidated net profit surged 307.5% to Rs 58.32 crore on 3.8% decline in net sales to Rs 301.31 crore in Q1 June 2020 over Q1 June 2019.

Consolidated profit before tax (PBT) soared 226% to Rs 58.62 crore in Q1 June 2020 as against Rs 17.98 crore in Q1 June 2019. Current tax expense for the quarter dropped 57.3% at Rs 1.51 crore as against Rs 3.54 crore in Q1 June 2019. The result was announced post trading hours yesterday, 21 July 2020.

EBITDA grew 54% to Rs 64 crore in Q1 FY21 over Q1 FY20. Revenue from cable business fell 4% to Rs 284 crore in Q1 FY21 as against Rs 295 crore in Q1 FY20. Revenue from broadband business declined 6% to Rs 16.8 crore in Q1 FY21 compared with Rs 18 crore in Q1 FY20.

The outbreak of Coronavirus (COVID -19) has impacted businesses globally. The group being service provider of one of the essential services - television broadcasting & distribution was able to operate under normal course of business during the period of nationwide lockdown with minimal impact on operations.

Den Networks is a cable TV distribution company incorporated in 2007 and headquartered in New Delhi. It provides a wide gamut of services including Cable TV and Broadband. DEN's Cable & Broadband operations cover over 500 cities and towns across 13 key states, i.e. Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, July 21 2020. 09:24 IST