DEN Networks Ltd announced its financial results for Quarter 1 of FY18. The cable MSO narrowed its net loss to Rs 10 crore during the quarter ending June 30, 2017 from Rs 45 crore in the corresponding quarter last year. The company had posted a net loss of Rs 60 crore in the preceding quarter ended on March 31, 2017.
Den recorded a turnaround at the PBT level on a consolidated basis. The company reported a consolidated Profit before Tax (PBT) of Rs 6 crore vs a loss of Rs. 35 crore in the previous quarter and a loss of Rs. 38 crore in Q1 of 2016-17.
Den has been making continuous efforts to improve its subscription collections from the LCOs, through a combination of consumer ARPUs going up and Den increasing its share of the consumer ARPUs. As a result of this cable subscription revenues registered a growth of 34% in Q1’17-18 as compared to the same quarter in the previous financial year.
Consolidated EBITDA for the quarter is reported at Rs 85 crore from Rs 50 crore in Q1’17, an impressive growth of 70%. The Broad band business continues to achieve breakeven EBITDA performance despite stiff competition from the leading telecom operators in the country.
NET Debt of the company has come down to Rs 134 crs as of June’17 from Rs. 181 crores as at March 31, 2017,
S N Sharma, CEO, DEN Networks, said, “Den turned another quarter of impressive results by registering a stupendous performance on Cable business. We remain focused on consumer needs and continue to take technology initiatives that will help our consumers to make their lives convenient and connected. On the basis of IGAAP numbers Den has broken even at the PBT level and the cable business has turned positive at the PAT level. We continue to add subscribers in our Broadband business. The average data consumption for Broadband business has already crossed 75 GBs per month. We are very hopeful to continue with this performance and are eagerly awaiting the final verdict on the new TRAI tariff order from the industry stand point.”