Den Networks Ltd Share Price – NSE  /  BSE

Entertainment, Small Cap

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 company’s 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 company’s 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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Net profit of Den Networks declined 40.78% to Rs 79.06 crore in the quarter ended March 2024 as against Rs 133.50 crore during the previous quarter ended March 2023. Sales declined 8.80% to Rs 258.02 crore in the quarter ended March 2024 as against Rs 282.91 crore during the previous quarter ended March 2023.

For the full year,net profit declined 11.61% to Rs 214.65 crore in the year ended March 2024 as against Rs 242.85 crore during the previous year ended March 2023. Sales declined 4.40% to Rs 1080.75 crore in the year ended March 2024 as against Rs 1130.47 crore during the previous year ended March 2023.

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Den Networks will hold a meeting of the Board of Directors of the Company on 16 April 2024.

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Profit before tax jumped 24% to Rs 62 crore in Q3 FY24 from Rs 50 crore in Q3 FY23. Total expenses fell 3.42% YoY to Rs 260.96 crore in the quarter ended 31 December 2023.

EBITDA jumped 9% to Rs 41 crore in the quarter ended December 2023 as compared to Rs 37 crore posted in the same quarter previous year. EBITDA margin improved to 15% in Q3 FY24 as against 14% in Q3 FY23.

The company's revenue from cable distribution network business stood at Rs 264.80 crore (down 0.81% YoY) while its revenue from broadband business was at Rs 8.13 crore (down 18.06% YoY) during the period under review.

During the quarter, revenue from subscription fell 10.19% YoY to Rs 141 crore while content cost jumped 5% YoY to Rs 154 crore.

As on 31 December 2023, cash and cash equivalents stood at Rs 2,892 crore as against Rs 2,839 as of 30 September 2023.

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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