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Cable television services firm Den Networks Ltd today reported 28.24% decline in consolidated net profit at Rs 11.18 crore for the second quarter ended September 30, 2013.
The company had posted net profit of Rs 15.58 crore in the July-September period of 2012-13 fiscal.
Den Networks' income from operations during the quarter stood at Rs 266.32 crore, up 31.36% compared with Rs 202.74 crore in the year-ago period, Den Networks said in a filing to the BSE.
Commenting on the company's performance during the quarter, Den Networks CEO S N Sharma said: "The successful implementation of Digitisation in Phases 1 and 2 is now translating into a significant increase in subscription revenues...Den is now expanding its focus on building its broadband business alongside aggressively digitising its Phase 3 and 4 markets."
Shares of Den Networks closed at Rs 144.90 apiece at the end of the day's trade, up 4.89% from their previous close on the BSE.
