Profit before tax jumped 24% to Rs 62 crore in Q3 FY24 from Rs 50 crore in Q3 FY23. Total expenses fell 3.42% YoY to Rs 260.96 crore in the quarter ended 31 December 2023.
EBITDA jumped 9% to Rs 41 crore in the quarter ended December 2023 as compared to Rs 37 crore posted in the same quarter previous year. EBITDA margin improved to 15% in Q3 FY24 as against 14% in Q3 FY23.
The company's revenue from cable distribution network business stood at Rs 264.80 crore (down 0.81% YoY) while its revenue from broadband business was at Rs 8.13 crore (down 18.06% YoY) during the period under review.
During the quarter, revenue from subscription fell 10.19% YoY to Rs 141 crore while content cost jumped 5% YoY to Rs 154 crore.
As on 31 December 2023, cash and cash equivalents stood at Rs 2,892 crore as against Rs 2,839 as of 30 September 2023.
Den Networks is a leading Cable TV distribution company in the country with a wide gamut of services. DEN's Cable operations covers over 500+ cities/towns across 13 key states (Delhi,Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand) in India.