Den Network Q4 net profit rises two-fold to Rs 126.20-crore

Den Networks Ltd. on Friday reported an over two-fold jump in its consolidated net profit to Rs 126.20 crore for the fourth quarter ended March 31, 2023.

The company had posted a net profit of Rs 48.61 crore during the January-March quarter of FY22, Den Networks said in a regulatory filing.

Its revenue from operations fell 6.77% to Rs 282.90 crore during the quarter under review against Rs 303.46 crore in the corresponding period of the previous fiscal.

The company’s revenue from the cable distribution network business was Rs 273.62 crore and Rs 9.28 crore from the Broadband business during Q4 FY23.

Den Networks’ total expenses dropped 1.68% to Rs 276.59 crore in Q4 FY23.

Its consolidated net profit for the financial year ended March 31, 2023, rose 38.15% to Rs 236.35 crore. It was Rs 171.07 crore in FY22.

The revenue from operations declined 7.76% to Rs 1,130.47 crore in FY23 from Rs 1,225.59 crore a year ago. Bloomberg