DEN reports strong operational performance with Q3 FY18 growth of over 54%

DEN Networks Ltd, one of the largest cable MSOs’ in India, has announced its financial results for Quarter 3, FY18 at the meeting of its Board of Directors.

Consolidated Revenues for Q3 FY’18 is Rs. 330 crores vs. Rs 293 crores in Q3 FY’17, up by 12%. DEN reports strong operational performance with consolidated Q3 EBITDA at Rs 81 crs Vs Rs 53 crs in FY17 Q3 at a growth of over 54%. Consolidated EBITDA as % to Revenue at 25%. Consolidated PAT continues to grow with growth in subscription revenue, Q3 PAT at Rs 2 crs Vs a loss of Rs (-) 37 crs in Q3 FY’17.

Consolidated EBITDA of Rs. 81 crores does not include Rs. 14 crores of EBIDA pertaining to the entities which are not getting consolidated as per INDAS. On an overall business basis, the consolidated EBITDA is Rs. 95 crores.

Den has been able to accelerate its subscription collections particularly in Phase 3 and 4 markets. Cable subscription revenues registered a growth of 21% in Q3’17-18 as compared to the same quarter in the previous financial year and 6% Vs last quarter led mainly by growth in phase 3 ARPU by 10% on q-o-q basis. Total Cable Revenues during the quarter are at Rs.  312 cr. vs Rs. 272 cr. in the same quarter in the previous year, up by 15%. Cable EBITDA for the quarter is reported at Rs 82 cr. from Rs 53 cr. in Q3 FY17 owing to better subscription collections and rationalization of costs.

With respect Broadband business, we continue to perform well despite intense competition from large telecom players and we added 10K new subscribers during the quarter. Roll out of our networks in select 10 towns is in progress as part of our strategy to expand wired internet services in smaller towns. EBITDA has broken even against a loss of Rs. 1 crore reported in the previous quarter as a result of host of cost optimization initiatives. We are constantly focusing on customer retention by offering longer term subscription plans.”

 Mr. S N Sharma CEO of DEN Networks, commenting on the results added, “Den has been able to improve operational performance consistently every quarter with constant focus on increasing the subscription collections on the ground with a much controlled cost base. It is a time of pride and joy as we announce that as per the Trust Research Advisory (TRA) Research, DEN has outshined all its competing brands and has emerged as the “Most Attractive Brand of 2017” in the cable TV segment.”

 FY18 Q3 Operational Highlights:

  • Consolidated Results - YOY Comparison – Q3 FY 18 Vs. Q3 FY 17 (INDAS)
  • Revenues for Q3 FY’18 are Rs 330 crores vs. Rs 293 crores in Q3 FY’17, up by 12%.
  • Total cost for Q3 FY’18 are Rs 248 crores vs. Rs 240 crores in Q3 FY’17, up by 3% Y-o-Y.
  • EBITDA for Q3 FY’18 is Rs 81 crores vs. Rs 53 crores in Q3 FY’17, a 54% leap Y-o-Y.
  • PAT in Q3 FY’18 is Rs 2 crores vs Q3 FY’17 vs. Rs (-) 37 crores in Q3 FY’17
  • Consolidated Results - QOQ Comparison – Q3 FY 18 Vs. Q2 FY 18 (INDAS)
  • Revenues for Q3 FY’18 are Rs 330 crores vs. Rs 328 crores in Q2 FY’18,
  • Total cost for Q3 FY’18 are Rs 248 crores vs. Rs 246 crores in Q2 FY’18 up by 1% Q-o-Q.
  • EBITDA for Q3 FY’18 is Rs 81 crores vs. Rs 82 crores in Q2 FY’18,
  • PAT for Q3 FY’18 is Rs 2 crores from Rs 1 crores in Q2 FY’18

Consolidated EBITDA of Rs. 81 crores does not include Rs. 14 crores of EBIDA pertaining to the entities which are not getting consolidated as per INDAS. On an overall business basis, the consolidated EBITDA is Rs. 95 crores.

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