India's Den Networks hits lowest since July 2023 on Q3 profit drop

Den Networks

14/01/2025 04:32

** Den Networks  DENN.NS  falls as much as 3.4% to 37
rupees, lowest since July 24, 2023
    ** Cable network distributor posts ~15% drop in Q3 consol
net profit of 403.1 mln rupees ($4.7 mln); rev from ops dips ~5%
Y/Y
    ** Co hurt by ~20% fall in rev from subscription during Q3;
EBITDA margin contracts to 11% from year-ago 15%
    ** DENN eyes fourth straight session of decline
    ** Stock shed ~24% in 2024

($1 = 86.5210 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))