Broadcasting and cable TV service provider Den Networks today reported narrowing of consolidated loss to around Rs 10 crore in the last quarter ended March of 2017-18.
The company had posted a consolidated loss of Rs 59.87 crore in the same quarter a year ago.
We have been able to deliver consistent improvement in our financial performance. All efforts are being pursued for further improving the subscription revenues across all phases to improve the margins," Den Networks CEO SN Sharma said in a statement.
Total income of the company declined by around 2 per cent to Rs 322.74 crore during the reported quarter from Rs 328.69 crore in the corresponding quarter of the previous fiscal.
For the year ended March 2018, the company's loss narrowed to Rs 17.11 crore from Rs 187.76 crore at the end of 2016-17.
The consolidated income of Den Networks increased by 9.7 per cent to Rs 1,314.98 crore at the end of financial year 2017-18 from Rs 1,198.67 crore it registered in the preceding fiscal.
"The 100 cities fixed line broadband plan is being rolled out which should help us improve our broadband footprint across our existing cable markets, Sharma said.
The net debt for the company as on March 31, 2018 stood at Rs 157 crore.
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