India's DEN Networks faces worst day in a month as quarterly profit sinks

Den Networks

18/07/2022 06:04

** Shares of TV channel distributor DEN Networks  DENN.NS 
fall as much as 6.2% to 32 rupees, lowest since June 22
    ** DENN, majority owned by Reliance Industries  RELI.NS ,
said on Friday June-quarter profit slid ~69% and revenue dropped
6%  urn:newsml:reuters.com:*:nFWN2YW1AJ
    ** Income from subscriptions fell 13% Y/Y 
    ** Stock marks sharpest intraday pct drop since June 20
    ** More than 671,000 shares change hands by 0443 GMT vs the
30-day avg of about 401,300 shares
    ** Stock down 18.9% YTD, as of last close

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))