Den Networks Q3 PAT rises 8% YoY to Rs 49 cr

The cable TV distributor reported a 7.9% rise in consolidated net profit to Rs 49.02 crore despite of 5.9% fall in net sales to Rs 276.90 crore in Q3 FY23 over Q3 FY22.

Consolidated profit before tax increased by 14.1% to Rs 49.72 crore in Q3 FY23 from Rs 43.57 crore in Q3 FY22. Total expenses skid 3.58% to Rs 270.25 crore in Q3 FY23 over Q3 FY22.

EBITDA dropped 26% to Rs 37 crore in the quarter ended 31 December 2022 as compared to Rs 50 crore posted in the same quarter previous year. EBITDA margin slipped to 14% in Q3 FY23 as against 17% in Q3 FY22. As on Q3 FY23, cash and cash equivalents stood at Rs 2,662 crore.

The company's revenue from cable distribution network business stood at Rs 266.97 crore (down 4.39% YoY) while its revenue from broadband business was at Rs 9.93 crore (down 33.3% YoY) during the period under review.

Subscription revenues fell 2% QoQ and 11% YoY to Rs 157 crore in the quarter ended December 2022. Placement/Management income declined 10% QoQ while rose 5% YoY to Rs 90 crore while Activation revenues shed by 3% QoQ and 36% 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.

The scrip declined 0.43% to Rs 34.80 on the BSE.

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