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DEN Networks’ cable biz EBITDA down 1.8% QoQ

MUMBAI: DEN Networks has posted an operating profit (EBITDA) of Rs 90.29 crore (Rs 902.9 million) from cable TV business for the fiscal fourth-quarter, marginally down 1.8 per cent from the preceding quarter. In the third quarter, operating profit from the cable TV business stood at Rs 91.95 crore (Rs 919.5 million).

According to the company, this was achieved despite investments in broadband and set-top boxes (STBs) for DAS III and IV cities.

Revenue from cable TV business in the three-month period ended 31 March 2014 was Rs 308.23 crore (Rs 3.08 billion), up 9.7 per cent from Rs 281 crore (Rs 2.81 billion) it had captured a quarter earlier.

Net profit from cable TV business jumped 148 per cent to Rs 14.64 crore (Rs 146.4 million) from Rs 5.90 crore (Rs 59 million) in the trailing quarter.

For the full fiscal ended 31 March, cable TV revenue was up 26 per cent to Rs 1115.9 crore (Rs 1.12 billion). EBITDA from cable business jumped 54 per cent year on year to Rs 357.51 crore (Rs 3.57 billion). The company said that its profit before tax (PBT) from cable business was up 21 per cent Y-o-Y to Rs 125.64 crore (Rs 1.26 billion).

DEN stated that it started rollout of its high-speed broadband service in the fiscal. It soft-launched its broadband services on DOCSIS 3.0 technology in parts of Delhi and is now in the process of scaling up rapidly in other parts of Delhi and selective cities of UP.

It has also taken on board a leading global strategy consulting firm to provide overall project management including market identification, rollout strategy, technological inputs and providing global expertise.

DEN Networks CEO SN Sharma said, “We are pleased with the company’s overall financial performance especially at a time when the company is investing to upgrade its back-end systems and readying itself for the launch of high-speed broadband services on the DOCSIS 3.0 platform.

Consolidated revenues

On a consolidated level, DEN Networks posted net profit of Rs 10.04 crore (Rs 100.4 million) for the quarter, on a revenue of Rs 325.67 crore (Rs 3.26 billion), while EBITDA stood at Rs 92.38 crore (Rs 923.8 million).

For the full fiscal FY14, consolidated revenue was up 26 per cent to Rs 1174.92 crore (Rs 1.17 billion), while EBITDA and PBT were at Rs 367.71 crore (Rs 3.68 billion) and 135.40 crore (Rs 1.35 billion), respectively.