Broadcasting and cable TV service provider Den Networks swung into black by reporting a consolidated net profit of Rs 1.73 crore for the December quarter.
The company had posted a net loss of Rs 38.75 crore during the same period of the previous fiscal, Den Networks said in a regulatory filing.
Revenue from operations during the quarter under review stood at Rs 328.22 crore as against Rs 298.83 crore in the year-ago period.
"Den has been able to improve operational performance consistently every quarter with constant focus on increasing the subscription collections on the ground with a much controlled cost base," Den Networks CEO S N Sharma said.
Consolidated Q3 EBITDA rose to Rs 81 crore from Rs 53 crore in the year-ago period at a growth of over 54 per cent, the company said.
The stock closed 6.69 per cent down at Rs 129.80 on the BSE. – Outlook India