MUMBAI: Sameer Manchanda-promoted Den Networks has posted a 82 per cent drop in its consolidated net profit for the first quarter of the fiscal.
The multi-system operator (MSO) with a pan-India footprint has posted a net profit of Rs 18.3 million compared to Rs 100.2 million in the year-ago period.
Total income during the quarter jumped 15 per cent to Rs 2.83 billion as against Rs 2.46 billion in the corresponding quarter of the previous fiscal.
Expenditure, however, rose to Rs 2.77 billion from Rs 2.26 billion.
Den’s profit from operations before other income, interests and exceptional items also fell to Rs 56.3 million from Rs 196.2 million.
Meanwhile, on the standalone basis, Den Network has posted a net profit of Rs 10.8 million compared to a loss of Rs 19.7 million in the year ago period.
Revenue rose to Rs 1.02 billion from Rs 752.3 million, while expenses were up at Rs 1 billion (from Rs 767.5 million).
As of 30 June, Den has spent Rs 2.27 billion out of Rs 3.64 billion that it had raised from the IPO.
Den has total investment of Rs 3.58 billion in subsidiaries and joint ventures.
