DEN Network’s revenue goes up marginally to Rs 313 crore in Q4 FY24
For the year ended March 31 2024, the revenue stood at Rs 1,287 crore, up from Rs 1,242 crore in FY23
Cable distribution firm DEN Networks Ltd has reported a decline in the subscription revenue by 8% in the fourth quarter of financial year 2023-24 compared to the same period previous fiscal.
Collectively for the whole year, the company’s subscription revenue declined by 9% in FY24 from FY23.
According to the Q4 results of the company, its subscription revenue for Q4 FY24 stood at Rs 132 crores, down from Rs 144 crore in Q4 FY23.
The company’s net profit declined by 39% from Rs 126 crore in Q4 FY23 to Rs 77 crore in Q4 FY24. Annually, for the year ending 2024, the profit stood at Rs 213 crore, down from Rs 236 crore in FY23.
The operating revenue of DEN Networks, which is owned by Reliance Industries Group, saw a Y-o-Y drop of 9% from Rs 283 crore to Rs 258 crore in Q4 FY24. The total revenue for Q4 FY24 stood at Rs 312.6 crore, up from Rs 310 crore in Q4 FY23.
For the year ended March 31 2024, the revenue stood at Rs 1,287.6 crore, up from Rs 1,242.5 crore in FY23.
The content cost of the company also saw a decline from Rs 151 crore in Q4 FY23 to Rs 145 crore in Q4 FY24. Annually, the content cost increased by 1 % from Rs 599 crore in FY23 to Rs 607 crore in FY24.
The total expenses of the company including content cost, personnel cost, debts and advances, reduced by 12 % at Rs 218 crore in Q4 FY24, down from Rs 247 crore in Q4 FY23.
The EBITDA of the network was up by 11% from Rs 36 crore in Q4 FY23 to Rs 40 crore in Q4 FY24.
