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DEN Networks Broadband biz reports Rs 1Cr EBITDA profit in Q4FY17

Cable and broadband operator DEN Networks’ broadband business has reported an EBITDA of Rs 1 crore for the quarter ended 31st March 2017 (Q4 FY17), after the segment broken even on an EBITDA level in the previous quarter. The company’s broadband business posted ‘pre-activation’ revenues of Rs 22 crore, up 45% YoY. On a sequential basis, the growth was marginal from Rs 21 crore.

The broadband segment however suffered a loss (before tax) of Rs 9 crore during the quarter, which decreased from Rs 17 crore loss in the same quarter last year. Total expenditure for the broadband segment decreased to Rs 20 crore from Rs 27 crore in the same quarter last year.

Cable segment, however, remains a majority of DEN’s business, at Rs 302 for the quarter, which is up 25% from Rs 242 crore in Q4FY16. Cable also generates a significantly higher EBITDA of Rs 45 crore. DEN, however, incurs a higher expenditure running its cable business when compared to its broadband business. Cable’s total expenditure was Rs 258 crore, which increased 14% YoY. The cable segment reported a profit (before tax) of Rs 5 crores, down from Rs 38 crore in the same quarter last year.

The company also hinted more spending on Cable: it said in a statement that it will “review focus on HD services with aggressive pricing to further improve the cable subscriptions revenues.” DEN will also launch an Android-based set-top-box in Q3FY18, similar to Airtel’s DTH set-top box with Android TV which was launched last month.

Other financial metrics
DEN’s overall business reported an income (post Activation) of Rs 322 crore up, 8% QoQ, and 21% YoY.
– Overall Loss (before tax) of Rs 16 crore, down from Rs 106 crore in the same quarter last year.
-Overall EBITDA (post activation) stood at Rs 61 crore in Q4FY17, up 20% QoQ.
– 33% growth in Subscription revenue in FY17 when compared to FY16

Operational metrics (broadband)

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– Added 18,000 broadband subscribers during the quarter, slower growth than last quarter, when it added 20,000 subscribers.
– total subscription of 177,000, up from around 159,000 last quarter
– ARPU for the quarter was Rs 733, down significantly from Rs 752 in the last quarter, and Rs 780 in Q1
– Average GB consumption per household: 67 gb, up from 59 gb in the previous quarter and 45 gb in Q1.

Download: Financials | Investor Release | Press Release

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