Den Networks suffers net loss of Rs 51.89 crore in Q1 FY16

The company's total income from operations dipped 11.11 per cent to Rs 265.60 crore from Rs 298.81 crore reported in Q1 FY15. Meanwhile, Sameer Manchanda has been reappointed as CMD

BestMediaInfo Bureau | Mumbai | August 3, 2015

Den Networks has announced their unaudited consolidated financial results for the first quarter ended June 30, 2015. The company, whose core line of business is into cable television services, posted a net loss of Rs 51.89 crore, compared to net profit of Rs 1.12 crore in the corresponding quarter of the previous fiscal.

Den Networks' total income from operations and other operating income for Q1 FY16 stood at Rs 265.60 crore, a fall of 11.11 per cent from Rs 298.81 crore reported for Q1 FY15.

The company's consolidated revenue from cable distribution network for the quarter ended June 30, 2015 stood at Rs 259.46 crore, as opposed to Rs 297.97 crore in the corresponding quarter of the previous fiscal.

During the quarter, Den Networks' profit before tax and finance segment from their cable distribution network turned negative at Rs 34.92 crore as opposed to a profit of Rs 26.43crore in Q1 FY15.

Following, the Q1 FY16 results, Den Networks in a separate filing informed the BSE that its Board of Directors had approved the reappointment of Sameer Manchanda as Chairman and Managing Director, on recommendation of the Nomination and Remuneration Committee, subject to approval of the shareholders.

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