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DEN Networks had 205K broadband subs in Q2FY18; Data usage up 53%

Multi-System Operator DEN Networks had 205,000 broadband subscribers for the quarter ended September 2017 (Q2 FY18), which is up 46.24% from 140,000 subscribers in the same quarter last year. During the quarter, the operator added close to 12,000 new broadband subscribers, lower than the 16,000 subscribers it added in the last quarter.

DEN’s subscriber data usage has been growing while ARPU has been falling. For the quarter ended September 2017, average consumption per household stood at 78GB, up 53% from an average consumption of 51GB a year ago. On a QoQ basis, average consumption grew marginally by 4% from 75GB. On the other hand, broadband ARPU fell by 14.3% YoY to Rs 664 in Q2 FY18.

The company made revenues of Rs 20 crore for the quarter from its broadband segment, which is down 4.76% YoY from Rs 21 crore in Q2 FY17. In the previous quarter, it made Rs 21 crore from broadband. The broadband segment suffered a loss of Rs 9 crore during the quarter, which increased from 8 crore loss a year ago. The ISP shows negative EBITDA with Rs 1 crore for Q2FY18 after positive EBITDA for three previous quarters. EBITDA for Q2FY17 stood in negative with Rs 2 crore. The company said in its statement that the EBITDA is impacted due to its broadband service roll out in small towns in the country.

Broadband strategy

DEN currently provides its cable services in over 400 towns across 13 states. As its broadband strategy to expand in small towns, the company has added 10 new towns across 4 states and plans to expand to 10 more towns this year.

The company said in its investor presentation for Q2 FY18 that it will focus on longer duration subscription plans resulting in better collections.

Cable Segment

Total revenues from the cable segment stood at Rs 308 crore for the quarter, which is up 27% from Rs 243 crore in Q2 FY18. Cable generated an EBITDA of Rs 83 crore. The cable segment reported a profit of Rs 10 crores, against loss of Rs 33 crore in the same quarter last year. DEN deployed 2.5 lakhs boxed in the quarter and its total digital base stood at 11 million.

Other Highlights

-DEN’s overall consolidated revenues stood at Rs 328 crore, up 24% YoY from Rs 264 crore.
-Consolidated PAT (Profit After Tax) stood at Rs 1 crore in Q2 FY18 compared to a loss of 42 crore in the same quarter previous year.
-Consolidated EBITDA stood at Rs 82 crore in Q2 FY18, up 200% YoY.
-DEN also partnered with BARC India for measuring TV viewership using Return Path Data (RPD). The company said in its statement that this will act as a data analytics tool to understand the subscriber viewing patterns, which will open up new revenue streams for the company.

Download: Investor Release | Financials

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