MUMBAI: Sameer Manchanda-promoted Den Networks has posted a second-quarter consolidated net profit of Rs 105 million, up from Rs 21 million in the year-ago period, as revenue jumped 14 per cent.
The multi-system operator (MSO) with a pan-India footprint has also improved its net profit from the prior quarter’s figure of Rs 100 million (after minority interest), up by five per cent.
Total income during the quarter rose to Rs 2.56 billion, as against Rs 2.24 billion a year ago. The income is up 3 per cent on QoQ basis (Rs 2.49 billion).
Expenditure rose 8 per cent to Rs 2.20 billion compared to Rs 1.91 billion in the earlier year and 3 per cent compared to Rs 2.14 billion in the first quarter.
Ebitda was at Rs 365 million, up 72 per cent from Rs 212 million in the year. The first quarter Ebitda was at Rs 357 million.
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Meanwhile, in the consolidated cable business, Den posted a net profit of Rs 78 million compared to a net loss of Rs 40 million for the same period last year. When compared to trailing quarter (Rs 75 million), net is up 3 per cent.
Total income during the quarter is up 28 per cent year-on-year and five per cent on sequential quarter basis.
Expenditure went up by 10 per cent to Rs 1.06 billion compared to Rs 966 million in the earlier year, and 6 per cent compared to Rs 1 billion in the first quarter.
Ebitda was at Rs 323 million, up from Rs 119 million in the previous year. The first quarter Ebitda was at Rs 316 million.
During the quarter, Den announced that its subsidiary IME Networks formed a 75-25 Joint Venture with BFTV, owners of BabyFirst, the leading babies channel. The JV will launch the BabyFirst channel in India and a few other countries and will exclusively house all rights for BabyFirst’s businesses in these territories.
