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DEN Q1 consolidated net loss at Rs 52 cr amid marginal revenue dip

MUMBAI: Sameer Manchanda-promoted multi-system operator (MSO) DEN Networks has reported a fall in revenue while consolidated net loss stood at Rs 51.89 crore (Rs 518.9 million) in the fiscal first quarter.

In the trailing quarter, the company had posted a net loss of Rs 62.08 crore (Rs 620.8 million). In the year-ago period (Q1 FY15), it had registered a small net profit of Rs 1.12 crore (Rs 11.2 million).

DEN’s operational revenue for the quarter was at Rs 265.6 crore (Rs 2.66 billion), down 1.7 per cent from the trailing quarter. In the corresponding quarter of the previous fiscal, revenue was at Rs 298.81 crore (Rs 2.99 billion.

DEN Networks suffered loss from operations (before other income and finance cost) of Rs 54.73 crore (Rs 547.3 million) compared to a loss of Rs 53.4 crore (Rs 534 million) in the previous quarter. In the year-ago period, it had posted a profit of Rs 13.88 crore (Rs 138.8 million) from operations.

DEN’s expenses were slightly lower at Rs 320.33 crore (Rs 3.20 billon) compared to Rs 323.70 crore (Rs 3.24 billion) in the trailing quarter. In the year-ago period, expenses were at Rs 284.93 crore (Rs 2.85 billion).

Content cost fell 2.2 per cent to Rs 136.06 crore (Rs 1.36 billion), from Rs 139.13 crore (Rs 1.39 billion) in the trailing quarter. In the earlier year, content cost was Rs 106.42 crore (Rs 1.06 billion).

DEN paid placement fee of Rs 9.06 crore (Rs 90.6 million) in the quarter, up from Rs 6.79 crore (Rs 67.9 million) in the preceding quarter. In Q1 of FY15, it was Rs 5.32 crore (Rs 53.2 million).

Employee cost at Rs 34.15 crore (Rs 341.5 million) was up 13 per cent compared to Rs 30.12 crore (Rs 301.2 million) in the preceding quarter. It was at Rs 28.46 crore (Rs 284.6 million) a year ago.

Cable business

In the cable distribution business, DEN’s revenue fell 2.8 per cent to Rs 259.46 crore (Rs 2.59 billion), from Rs 266.88 crore (Rs 2.67 billion) in the trailing quarter. In the corresponding quarter of the previous fiscal, revenue from cable business was at Rs 297.75 crore (Rs 2.98 billion).

Segment loss during the quarter was at Rs 34.92 crore (Rs 349.2 million) compared to 35.67 crore (Rs 356.7 million) in trailing quarter and a profit of Rs 26.43 crore (Rs 264.3 million) a year ago.

DEN has seeded two million set-top boxes (STBs) in Phase III, ahead of the 31 December 2015 digital addressable system (DAS) deadline.

Broadband

Broadband business saw a segment loss of Rs 19.67 crore (Rs 196.7 million) on a revenue of Rs 5.21 crore (Rs 52.1 million) in the quarter.

In Q4FY15 and Q1 FY14 segment loss from the broadband business was at Rs 15.46 crore (Rs 154.6 million) and Rs 8.52 crore (Rs 85.2 million), respectively.

Revenue from broadband stood at Rs 3.43 crore (Rs 34.3 million) in Q4FY15 and Rs 1.06 (Rs 10.6 million) in Q1FY15.

Soccer business

DEN’s loss from the soccer business was at Rs 14 lakh (Rs 1.4 million) on a revenue of Rs 93 lakh (Rs 9.3 million).