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The
Sameer Manchanda-promoted cable TV services company said its
operating profit before forex losses of Rs 23.7 million in
the first quarter ended June 30 2012 was Rs 461.9 million,
up 77 per cent from Rs 261.2 million. The company’s Ebidta
margin stood at 24.3 per cent in the first quarter against
16.6 per cent a year earlier.
Den
Networks CEO S N Sharma said, “The quarter gone by has
been very satisfactory for Den and we have (also) made rapid
progress in digitisation. We expect the business to continue
to exhibit strong growth momentum in the coming quarters and
we are looking forward to the 31 October deadline for Phase
1 of digitisation.”
The
company’s consolidated first quarter net profit rose
to Rs 122.2 million from Rs 18.3 million a year earlier. The
sharp rise in the net profit is because of the lower base
in the first quarter of 2011-12.
The
company’s consolidated Ebidta (before forex losses of
Rs 23.7 million) was Rs 474.3 million, up 72 per cent from
Rs 276.3 million a year earlier. The company’s Ebidta
margin was 23.7 per cent.
Den’s
consolidated net revenue for first quarter was Rs 2 billion
against Rs 2.83 billion a year earlier. Expenses during the
quarter decreased 44.76 per cent to Rs 1.53 billion from Rs
2.77 billion in the year ago period.
The
company, however, clarified that the consolidated revenue
figures were not comparable as MediaPro, a joint venture company
of Star Den and Zee Turner, has changed its financial reporting
to net revenue from gross revenue (Net revenues = Gross Revenues
less Cost of Distribution Rights paid to Broadcasters). Star
Den is an equal joint venture of Star and Den.
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