DEN Networks reported a consolidated operating revenue of Rs 308.4 crore for the quarter ended December 31, 2018 (Q3FY19). This was 6% higher YoY from Rs 328.2 crore in the same quarter last year, and has remained stagnant over the preceding quarter when it was Rs 310 crore. The company suffered a total loss of Rs 31 crore this quarter, which is a 250% fall YoY from the same quarter last year when its profit was Rs 20.5 crore. Losses have also increased 9.6% from the preceding quarter, when total losses amounted to Rs 28.3 crore. DEN Networks has approved the allotment of 28.14 crore equity shares to Jio Futuristic Digital Holdings (13 crore shares), Jio Digital Distribution Holdings (7 crore shares), and to Jio Television Distribution Holdings (7 crore shares). Reliance Industries' deal to acquire majority stakes in DEN Networks and Hathway Cable was approved by the CCI earlier this week. Segment results - Broadband and Cable Cable forms the larger chunk of DEN Networks' business as it brought in Rs 291.5 crore in revenue (or 94.5%) as opposed to broadband revenue of Rs 16.8 crore (or 5.4%). Broadband revenue has largely remained stagnant YoY as it was Rs 17.7 crore in the same quarter last year, and Rs 16.5 crore in the preceding quarter. However, both broadband and cable are operating in losses: Cable brought in losses of Rs 8.9 crore, which is a 135% YoY fall in profit from Rs 25.2 crore in the same quarter last…
