Den Networks eyes revenue nest of Rs 11.5 bn in FY’11

MUMBAI: Sameer Manchanda-promoted Den Networks will continue to grow in size this year, building up a revenue nest of Rs 11.50 billion as it consolidates its subsidiaries.

The multi-system operator (MSO) with a pan-India footprint will, thus, see a 25 per cent revenue upswing over the earlier year. 
Carriage revenue from broadcasters, standing at almost Rs 2 billion in FY’10, will see a 10-15 per cent growth in the fiscal.

The company expects its operating profits to jump over 50 per cent to Rs 1.60 billion.

“We will see the full impact of the subsidiaries this year. The carriage market is also picking up. Our targets are well within achievable reach,” says Den Networks president – strategy and business development M G Azhar.

The fourth-quarter financials of FY’10 are an indicator of Den’s growth this fiscal. The company posted a revenue of Rs 2.46 billion and operating profit of Rs 320 million. “We had almost consolidated all our subsidiaries which reflected in our fourth-quarter results,” says Azhar. 
Den plans to invest Rs 1.50 billion during the current fiscal even as it intends to speed up its digitisation drive.

The MSO will pump in over Rs 1 billion as it expects to add 700,000-800,000 digital subscribers during the fiscal. Den already has 425,000 digital subscribers.

Den will also put in one-fourth of its year’s investments towards acquisition of cable networks.

“We have an investment plan of Rs 1.50 billion in FY’11. We hope to cross one million digital subscribers by then,” says Azhar.

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