India's Den Networks falls after subdued Q3 results
15/01/2024 04:34
** Shares of Den Networks Ltd DENN.NS down 3.3% at 62
rupees
** The cable network distributor's Q3 consol net profit fell
3.5%, with deferred taxes up ~53x
** DENN's revenue fell y/y for 10th straight qtr; co has
suffered from the pandemic-driven shift to online streaming
platforms such as Netflix
** Stock fell 17.1% in 2023 vs peer Hathway's HAWY.NS ~23%
rise and Nifty Media index's .NIFTYMED ~20% gain
(Reporting by Nandan Mandayam in Bengaluru)
((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))
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