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Thursday, 11 July 2019 07:07

Q1 Results: MSO DEN Networks registers consolidated net profit of Rs 14 crore

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Against a net loss of Rs 213 crore in the trailing quarter, the Cable TV and broadband service provider DEN Networks has registered a consolidated net profit of Rs 14 crore for the quarter ended 30th June. In the corresponding quarter of the previous fiscal, MSO’s net loss stood at Rs 28 crore.

Its EBITDA was up 10% QoQ to Rs 41 crore from Rs 38 crore in Q4 FY19. In the previous fiscal, the EBITDA stood at Rs 47 crore. EBITDA margin stood at 13% compared to 14% in Q4 FY19 and 15% in Q1 FY19.

The MSO’s subscription revenue increased 7% QoQ to Rs 189 crore compared to Rs 176 crore in the trailing quarter. In the same period of the previous fiscal, the subscription revenue stood at Rs 186 crore. Total revenue jumped 14% to 313 crore from Rs 275 crore. In the year ago period, the revenue was Rs 314 crore.

DEN’s total cost was up 15% to Rs 272 crore from Rs 237 crore in Q4 FY19 and Rs 268 crore in Q1 FY19. Content cost was up 27% QoQ to Rs 159 crore from Rs 126 crore. On YoY basis, content cost increased 6% from Rs 150 crore. It posted a net profit of Rs 20 crore from the cable business as against a net loss of Rs 193 crore in the trailing quarter. In Q1 FY19, the net loss was Rs 19 crore. EBITDA jumped 10% to Rs 41 crore from Rs 37 crore. In the previous, the EBITDA was Rs 48 crore. Revenue was up 15% at Rs 295 crore from Rs 257 crore. On YoY basis, the revenue was flat.

The MSO’s subscription revenue was up 8% at Rs 171 crore from Rs 159 crore. In Q1, the subscription revenue was Rs 170 crore. Placement revenue jumped 48% QoQ to Rs 97 crore compared to Rs 66 crore in Q4 FY19 and Rs 85 crore in Q1 FY19.

If we look at the cost, its total cost increased 16% to Rs 255 crore from Rs 220 crore. In the previous fiscal, the same was Rs 251 crore. Content cost increased 27% to Rs 159 crore from Rs 126 crore. It stood at Rs 150 crore in the previous fiscal.

In broadband segment, the net loss from its broadband business narrowed to Rs 5 crore from Rs 20 crore in Q4 FY19 and Rs 9 crore in Q1 FY19. EBITDA remained flat at Rs 1 crore. Revenue and total cost from the segment remained flat at Rs 18 crore and Rs 17 crore respectively.

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