Cable TV

Den Networks reports higher revenue, operating profit

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BENGALURU: Indian multi system operator (MSO) Den Networks (Den) reported growth in revenue and operating profit (EBITDA) for the quarter ended 31 March 2018 (FY 2018, fiscal 2018, year under review) as compared to the previous year FY 2017. Den’s operating revenue for fiscal 2018 increased 11 per cent to Rs 1,285.10 crore from Rs 1,157.34 crore in FY 2017. Total consolidated revenue including other income grew 9.7 per cent in FY 2018 to Rs 1,314.98 crore from Rs 1,198.67 crore in FY 2017. Consolidated simple EBITDA including activation revenue during the year under revenue increased 41.7 per cent to Rs 324.52 crore (25.3 per cent of revenue from operations) from Rs 229.01 crore (19.8 per cent of revenue from operations).

The company’s net consolidated loss for FY 2018 reduced to Rs17.11 crore, which was less than a tenth of the loss of Rs 187.76 crore in the previous year. Consolidated total comprehensive loss for the year declined to Rs 16.77 crore from Rs 187.24 crore in FY 2017.

Segment revenue

The company has two segments – cable distribution networks (cable); and broadband. Cable segment revenue increased 12.5 per cent in FY 2018 to Rs 1,209.75 crore from Rs 1,075.54 crore in FY 2017. Den reported that segment had an operating profit of Rs 61.63 crore as compared to an operating loss of Rs 60.98 crore in FY 2017.

Den reported 7.9 per cent decline in operating revenue for its broadband segment in FY 2018 at Rs 73.75 crore as compared to Rs 81.80 crore in the previous year. The segment’s operating loss reduced to Rs 31.91 crore in FY 2018 from Rs 36.31 crore in FY 2017.

Let us look at the other numbers reported by Den

Consolidated total expenditure for the year was almost flat – it increased by 0.1 per cent in FY 2018 to Rs 1,321.43 crore (102.8 per cent of operating value) from Rs 1319.79 crore (114 per cent of operating value) in the previous year. The company has seen a rise in content cost in actual value as well as in terms of percentage of operating revenue over the past quarters and fiscal 2018. Consolidated content cost increased 14.1 per cent in FY 2018 to Rs 539.80 crore (42 per cent of operating revenue) as compared to Rs 473.28 crore (40.9 per cent of operating revenue) in the previous fiscal. Consolidated placement fees reduced 7.9 per cent in FY 2018 to Rs 46.21 crore (3.6 per cent of operating revenue) from Rs 50.20 crore (4.3 per cent of operating revenue).

Consolidated employee benefits expense during the year under review declined 12.5 per cent to Rs 107.99 crore (8.4 per cent of operating value) from Rs 123.37 crore (10.7 per cent of operating value) in FY 2017. Consolidated other expenses in 2018 reduced 5.7 per cent to Rs 312.79 crore (24.3 per cent of operating value) in FY 2018 from Rs 331.68 crore (28.7 per cent of operating value) in the previous year.

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