MUMBAI: Sameer Manchanda-promoted Den Networks Ltd has posted a fiscal third-quarter consolidated net profit of Rs 77.2 million.
The multi-system operator (MSO), which boasts of a subscriber base of approximately 10 million in 77 cities across India, reported a revenue of Rs 2.35 billion in the quarter, up 6 per cent from the previous three-month period.
EBIDTA stood at Rs 286.9 million, up 35 per cent from the quarter ended September 2009.
Den Network chairman Manchanda said, "The results are a reflection of rapid consolidation of our position in the fast growing television industry. We expect the trend to continue over the next few years, which should also see the emergence of unique value added service offerings."
Total expenses for the quarter stood at Rs 2.2 billion. Den launched a 24-hour music service spanning 10 genres on its digital platform. This includes ‘new Hindi movie hits‘, ‘old classics‘, ‘latest English‘ and ‘old English classics‘ and regional music.
Den also launched micro-blogging service ‘blog.telly‘ on its digital platform, wherein subscribers can blog on TV through SMS or via the Den‘s digital website.
Den recently listed on the bourses after raising Rs 3.64 billion through an initial public offering.
