Technology

Den eyes 20% revenue growth from cable in FY’12

MUMBAI: Sameer Manchanda-promoted Den Networks Ltd. targets a 20 per cent growth in revenue from its cable TV business for the current fiscal, aided by earnings from subscription and the fee that it charges from broadcasters to place their channels.


The multi-system operator (MSO) with a pan India presence has posted a revenue of Rs 5.72 billion from cable TV for the fiscal ended 31 March 2011, up 25 per cent from Rs 4.57 billion a year ago.


The business from Star Den, a joint venture between Star India and Den that is engaged in the business of TV channel distribution, is expected to grow 15 per cent.


“We expect a 20 per cent growth from cable TV operations and a 15 per cent growth from Star Den in the fiscal,” Den Networks president - strategy and business development MG Azhar tells Indiantelevision.com.


The consolidated Ebitda is expected to grow 35 per cent. For the fiscal ended 31 March 2011, Den reported a consolidated Ebitda of Rs 1.36 billion, up 28 per cent (from Rs 1.06 billion).


For FY’11, Den posted a 43 per cent jump in Ebitda to Rs 1.17 billion from the cable TV business compared to Rs 820 million in the earlier year.


Net profit from cable rose 86 per cent to Rs 267 million. “We gained from economies of scale and saw revenue growth due to subscription and placement fees,” says Azhar. 
 
On a consolidated basis, Den Networks reported a revenue of Rs 10.61 billion, up 15 per cent from Rs 9.256 billion a year ago. Expenses rose 13 per cent to Rs 9.25 billion. The consolidated figures include cable TV operations and the financials of Star Den.


Consolidated net profit jumped 26 per cent to Rs 378 million.


“We are bullish about our future growth. This will be driven by increasing digitalisation and a burgeoning broadcasting market where more and more channels will continue to expand,” says Azhar.
 

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