Quarterly Result: Den Networks Ltd
Bhagyashree Vivarekar / 13 Dec 2016
Den Networks Ltd is currently trading at Rs 72.45, up by 8.25 points or 12.85 per cent from its previous close of Rs 64.20 on the BSE. The net loss declined by Rs 50 crore from Rs 97.80 crore in Q2FY16 to Rs 47.9 crore in Q2FY17.
Technical View:
Den Networks Ltd is currently trading at Rs 72.45, up by 8.25 points or 12.85 per cent from its previous close of Rs 64.20 on the BSE. The scrip opened at Rs 64.2 and has touched a high and low of Rs 73.55 and Rs 63.40 respectively. A total of 3573806 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
Consolidated Results Q2FY17:
DEN Network Ltd. reported its Q2FY17 numbers below Bloomberg estimates. The company's revenue was reported 3.1 per cent below the estimate of Rs 281 crore, while its net loss was Rs 5 crore higher than the estimate of Rs 43 crore.
The company's revenue for the quarter surged 26.7 per cent YoY to Rs 272 crore. It reported EBITDA of Rs 29 crore as compared to EBIDTA loss of Rs 40 crore in Q2FY16. This was largely due to 8 per cent YoY decline in content cost and other expenses.
The net loss declined by Rs 50 crore from Rs 97.80 crore in Q2FY16 to Rs 47.9 crore in Q2FY17. This was primarily due to 36.2 per cent YoY decrease in finance cost.
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