Den Networks Q2 down 28.24 per cent at Rs 11.18 crore

NEW DELHI: Cable television services firm Den Networks Ltd today reported 28.24 per cent 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 per cent 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 per cent from their previous close on the BSE.