 "Den Networks dips on disappointing Q4 results")
Den Networks has dipped 5% at Rs 134 on the NSE after reporting a consolidated net loss of Rs 62 crore for the quarter ended March 2015 (Q4), due to higher content cost and other expenditure.
The company, engaged in the broadcasting & cable TV business, had reported a profit of Rs 10.05 crore in the year-ago quarter.
Sales declined 11.83% to Rs 262 crore in the quarter ended March 2015 as against Rs 297 crore during the previous quarter ended March 2014.
The company said overall cable EBITDA margin, net of activation, stands at 12.6% against 16.9% last year. The impact is on account of an increase in content costs and investment in DAS 3 and 4 markets.
“The profitability has been impacted because of the new business initiatives of the company including Broadband, TV Shop and Football as we build DEN for future,” said Pradeep Parameswaram, CEO – Den Networks.
The stock opened at Rs 134 and hit a low of Rs 133 on the NSE. A combined 423,381 shares changed hands on the counter on the NSE and BSE.
The company, engaged in the broadcasting & cable TV business, had reported a profit of Rs 10.05 crore in the year-ago quarter.
Sales declined 11.83% to Rs 262 crore in the quarter ended March 2015 as against Rs 297 crore during the previous quarter ended March 2014.
The company said overall cable EBITDA margin, net of activation, stands at 12.6% against 16.9% last year. The impact is on account of an increase in content costs and investment in DAS 3 and 4 markets.
“The profitability has been impacted because of the new business initiatives of the company including Broadband, TV Shop and Football as we build DEN for future,” said Pradeep Parameswaram, CEO – Den Networks.
The stock opened at Rs 134 and hit a low of Rs 133 on the NSE. A combined 423,381 shares changed hands on the counter on the NSE and BSE.