Den Networks LimitedQ2 FY27 Results & Financial Update

Den Networks Limited: Q2 FY27 consolidated results and company financials – revenue ₹232.56 Cr, PAT ₹36.77 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: DENPublished 14 Oct 2026Updated 14 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹232.56 CrReported Q2 FY27
Profit after tax₹36.77 CrReported Q2 FY27
Sequential change+6.3%Quarter-on-quarter

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Quarterly Results AnalysisExplore Den Networks Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

Den Networks Limited reported consolidated revenue from operations of INR 232.56 crore for the quarter ended September 30, 2026, marking a sequential decrease compared to the preceding quarter.

02

Profit after tax (PAT) for Q2 FY27 stood at INR 36.77 crore, showing an increase over the INR 34.59 crore reported in Q1 FY27, assisted by higher other income and controlled operational costs.

03

Total income for the quarter reached INR 293.29 crore, which includes substantial non-operating other income items alongside core operational revenues.

04

Profit before tax (PBT) improved sequentially to INR 51.75 crore compared to INR 47.67 crore in the previous quarter.

05

The company maintained a zero gross debt status during the quarter, supported by a healthy liquid position with cash and cash equivalents standing at INR 3,417 crore.

06

Subscription revenue was reported at INR 86 crore, while placement and marketing income contributed INR 141 crore to the operational top line.

07

Digital collections remained robust, with the company achieving 97 percent online collections including subsidiaries during the period.

01 · Business model

What does Den Networks do?

Den Networks Limited is a leading cable television distribution company in India, offering a wide gamut of cable services across multiple states and urban centres.

The company's cable operations span over 425 cities and towns across 13 key states in India, including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand.

In addition to its primary cable distribution business, the company operates a broadband segment through its wholly-owned subsidiary, DEN Broadband Limited, which holds a Unified License and was incorporated in 2011.

The operational model relies on digital cable distribution infrastructure, subscriber subscription fees, placement and marketing income, and high cash collections via digital channels.

02 · Historical context

What shaped the business before this quarter

Company Incorporation

Den Networks was incorporated in 2007 with its registered office in the State of Maharashtra to build out a nationwide cable television distribution network.

Broadband Subsidiary Setup

The company expanded its service offerings by incorporating DEN Broadband Limited in 2011 as a wholly owned subsidiary holding a Unified License for internet services.

03 · Financial snapshot

Current quarter vs the available comparable

MetricQ2 FY27Previous quarter
Revenue from operations₹232.56 Cr₹242.77 Cr
Total income₹293.29 Cr₹298.17 Cr
Profit before tax₹51.75 Cr₹47.67 Cr
Profit after tax₹36.77 Cr₹34.59 Cr
EPS₹0.76₹0.77

04 · Why it moved

Why the quarter looked the way it did

What drove revenue

Placement and Marketing Income

Placement and marketing income formed the largest operational revenue component at INR 141 crore for Q2 FY27, increasing sequentially from INR 134 crore in Q1 FY27.

Subscription Revenue

Subscription revenue contributed INR 86 crore during the quarter, compared to INR 91 crore in the previous quarter.

Other Operating and Activation Income

Other operating income contributed INR 4 crore, while activation income remained stable at INR 2 crore.

What drove margins

Content Cost Management

Content costs, which represent a major portion of operational expenses, stood at INR 162 crore for the quarter, reflecting disciplined cost containment compared to INR 165 crore in Q1 FY27.

Personnel and Operating Expenses

Personnel expenses were contained at INR 14 crore, while other operating expenses decreased to INR 45 crore from INR 48 crore in the preceding quarter.

Provisions for Doubtful Debts

Provisions for doubtful debts declined to INR 1 crore in Q2 FY27 from INR 2 crore in Q1 FY27, reflecting improved collection efficiency.

05 · Demand, customers & order book

Where demand is coming from

Online Collection Efficiency

The company achieved 97 percent online collection rates across its network, including subsidiaries, reflecting high digital adoption among subscribers and partners.

06 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Cable TV Distribution

The core cable television business continued its operations across 425+ cities and towns spanning 13 key states.

Broadband Business

Operated through subsidiary DEN Broadband Limited under a Unified License, providing high-speed internet services.

Geography and market mix

Geographic Footprint

Operations remain active across 13 states including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand.

07 · Reported developments

What changed operationally

Sequential Profit Growth

Consolidated PAT increased by approximately 6.3 percent sequentially to INR 36.77 crore.

Debt-Free Balance Sheet

The company sustained zero gross debt with substantial cash reserves exceeding INR 3,400 crore.

08 · Pressure points & risks

What is not going smoothly

Top-Line Softening

Revenue from operations declined sequentially from INR 242.77 crore in Q1 FY27 to INR 232.56 crore in Q2 FY27.

09 · Items worth noticing

The line items that can distort a quick read

Other Income Contribution

Other income formed a notable component of total income, standing at INR 60.73 crore for Q2 FY27.

Share of Loss of Associates

The company reported a share of loss from associates amounting to INR 3 crore during the quarter.

10 · Cash flow & balance sheet

Profit is one thing. Cash and funding tell another part of the story.

Cash and Cash Equivalents

Cash and cash equivalents stood at a robust INR 3,417 crore as of September 30, 2026, compared to INR 3,383 crore as of June 30, 2026.

Trade Receivables

Trade receivables were reported at INR 276 crore at the end of Q2 FY27, up from INR 256 crore at the close of Q1 FY27.

Trade Payables

Trade payables stood at INR 406 crore as of September 30, 2026, compared to INR 417 crore at the end of June 2026.

Capital allocation & funding

Zero Gross Debt Status

The company maintained a clean balance sheet with zero gross debt and negligible finance costs during the quarter.

11 · Beyond the numbers

What changed beyond the numbers

Reported update

Corporate Presentation Release

Den Networks released its investor update for Q2 FY27 on October 13, 2026, highlighting financial results, balance sheet structure, and operating metrics.

12 · Previous-quarter changes

What changed since the previous quarter

Sequential Revenue and Profit Shift

Revenue from operations contracted by about 4.2 percent sequentially, while net profit expanded by 6.3 percent due to lower operating expenses and higher non-operating income.

13 · Key Q&A

The quarter, answered directly

What does Den Networks do?

Den Networks Limited is a leading cable television distribution company in India, offering a wide gamut of cable services across multiple states and urban centres.

What is the clearest takeaway from Q2 FY27?

Den Networks Limited reported consolidated revenue from operations of INR 232.56 crore for the quarter ended September 30, 2026, marking a sequential decrease compared to the preceding quarter.

What drove revenue or demand?

Placement and marketing income formed the largest operational revenue component at INR 141 crore for Q2 FY27, increasing sequentially from INR 134 crore in Q1 FY27.

What mattered most for margins or profitability?

Content costs, which represent a major portion of operational expenses, stood at INR 162 crore for the quarter, reflecting disciplined cost containment compared to INR 165 crore in Q1 FY27.

What changed operationally beyond the headline numbers?

Den Networks released its investor update for Q2 FY27 on October 13, 2026, highlighting financial results, balance sheet structure, and operating metrics.

What are the main pressure points disclosed for the quarter?

Revenue from operations declined sequentially from INR 242.77 crore in Q1 FY27 to INR 232.56 crore in Q2 FY27.

14 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
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Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
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Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

15 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Subscription Revenue Trajectory: Monitor subsequent quarterly disclosures for stabilization or growth in core subscription and placement revenues.

  2. 02

    Cash Deployment: Track utilization or yields on the substantial cash and cash equivalents balance of INR 3,417 crore.

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Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

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