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DEN Q1 net loss at Rs 57.3 cr amid 35% rise in content cost
MUMBAI: DEN Networks’ net loss in the fiscal first quarter has widened amid a 35% rise in content cost while revenue has grown 22.2%.
The cable TV and broadband service provider has reported a standalone net loss of Rs 57.31 crore (Rs 573.1 million) in the fiscal first quarter compared to a loss of Rs 50.75 crore (Rs 507.5 million) a year ago.
Total income from operations rose to Rs 238.67 crore (Rs 2.39 billion) in the quarter ended 30 June 2016 compared to Rs 196.89 crore (Rs 1.97 billion) in the earlier year.
Content cost climbed to Rs 107.28 crore (Rs 1.07 billion) from Rs 79.47 crore (Rs 794.7 million).
Total expenditure in the quarter ended 30 June was Rs 284.12 crore (Rs 2.84 billion), up 12.1% from Rs 253.42 crore (Rs 2.53 billion) in the earlier year.
Cable TV biz
The company’s loss before finance cost and tax from the cable TV segment narrowed to Rs 31.19 crore (Rs 311.9 million) in the fiscal first quarter compared to Rs 37.29 crore (Rs 372.9 million) a year ago.
Revenue from cable distribution was up 15.12% to Rs 220.88 crore (Rs 2.21 billion) from Rs 191.87 crore (Rs 1.92 billion).
DEN’s loss before finance cost and tax from the broadband segment reduced to Rs 14.26 crore (Rs 142.6 million) in the fiscal first quarter compared to Rs 19.24 crore (Rs 192.4 million) a year ago.
Revenue grew to Rs 17.79 crore (Rs 177.9 million) from Rs 5.02 crore (Rs 50.2 million) in the earlier year.