Multi System Operator DEN Networks had 140,000 broadband subscribers for the quarter ended September 30th 2016 (Q2 FY17), which is up from 57,000 subscribers in the same quarter last year. During Q2 FY17, the operator added close to 25,000 new broadband subscribers. The company reported a digital cable subscriber base of 10.1 million for the quarter, up 32% year-on-year (YoY) from 7.6 million connections. DEN Networks added some 300,000 digital cable subscribers during Q2 FY 17.

The company posted overall revenues of Rs 541.35 crore for the quarter, up 20% YoY from Rs 450.69 crore. Revenue from its cable network operations accounted for a majority of its overall revenue at Rs 502.86 crore in Q2 FY17, up from Rs 436.66 crore in the same quarter last year. Broadband revenue stood at Rs 38.49 crore for the quarter, which is up 193% YoY from Rs 13.10 crore in Q2 FY16.

DEN Networks however posted a net loss of Rs 87.66 crore for Q2 FY17, narrowing from Rs 135.78 crore in the same quarter last year. Currently company provides digitized cable TV and Direct-to-Home (DTH) services in over 200 cities across 13 states in the country with packages starting from just Rs 100. It also offers broadband Internet services under its DEN BOOMBAND brand in Delhi and NCR regions.

Other highlights during the quarter

-Broadband ARPU stood at Rs 775 during Q2 FY17, down from 780 in the previous quarter.
-Average data consumption per household increased to 51 GB during Q2 FY17, up from 45 GB in the previous quarter.
-Consolidated quarterly EBITDA margin stood at Rs 34 crore for the quarter, which was up from a negative EBITDA margin of Rs 39 crore in Q2 FY16.

Goldman Sachs, Wall Street stake purchase

The Goldman Sachs Group had picked up an additional 6.7% stake worth Rs 1.58 crore (1,58,26,039) equity shares in Den Networks in September taking its overall ownership in the company to 24.49%. Goldman Sachs had originally picked up a 17.8% stake in the company for Rs 689 crore in 2013.

In April this year, the company sold its 55% stake in DEN Sports (which owns Delhi Dynamos, the Indian Super League football sports team) to Wall Street Investments for Rs 43.32 crore ($6.5 million). In March, DEN Networks exited (pdf) its 50:50 joint venture Star Den with Star India by selling its stake for Rs 40.53 crore

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