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Profit before tax slipped 38% to Rs 31.26 crore in Q4 FY23 from Rs 50.41 crore in Q4 FY22. Total expenses decreased by 1.68% to Rs 276.59 crore in Q4 FY23 over Q4 FY22.
EBITDA dropped 34% to Rs 36 crore in the quarter ended 31 March 2023 as compared to Rs 55 crore posted in the same quarter previous year. EBITDA margin stood at 13% in Q4 FY23 as against 18% in Q4 FY22. As on Q4 FY23, cash and cash equivalents stood at Rs 2,693 crore.
The company's revenue from cable distribution network business in Q4 FY23 stood at Rs 273.62 crore (down 5.33% YoY) while its revenue from broadband business was at Rs 9.28 crore (down 35.78% YoY).
Subscription revenues fell 8% QoQ and 14% YoY to Rs 144 crore in the Q4 FY23. Placement/marketing income in Q4 FY23 increased by 26% QoQ and 21% YoY to Rs 113 crore while Activation revenues declined by 19% QoQ and 41% YoY to Rs 10 crore in the quarter ended march 2023.
On full year basis, the company's consolidated net profit jumped 38% to Rs 242.85 crore in FY23 as compared with Rs 175.95 crore posted in FY22. Net sales declined 7.8% YoY to Rs 1,130.47 crore in FY23.
Den Networks is a leading Cable TV distribution company in the country with a wide gamut of services. DEN's Cable operations covers over 500+ cities/towns across 13 key states (Delhi ,Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand) in India.
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