Den Networks LimitedQ1 FY27 Results & Financial Update
Den Networks Limited: Q1 FY27 consolidated results and company financials – revenue ₹242.77 Cr, PAT ₹34.59 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Den Networks Q1 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
Den Networks Limited reported consolidated total revenue of INR 242.77 crore for the quarter ended June 30, 2026, alongside total income of INR 298.17 crore inclusive of other income amounting to INR 55.40 crore.
Profit before tax (PBT) for Q1 FY27 stood at INR 47.67 crore, while net profit after tax (PAT) reached INR 34.59 crore, resulting in basic and diluted earnings per share of INR 0.77 for the quarter.
According to the company's investor presentation, consolidated revenue ticked up 1% year-on-year to INR 243 crore, while quarterly EBITDA stood at INR 13 crore with an EBITDA margin of 5%, reflecting cost pressures from content acquisition.
Subscription income for the quarter was reported at INR 91 crore, down 14% compared to INR 105 crore in Q1 FY25-26, whereas placement and marketing income rose 3% year-on-year to INR 134 crore.
Total consolidated expenses for Q1 FY27 reached INR 230 crore, driven by content costs of INR 165 crore—which increased 10% year-on-year from INR 150 crore—alongside personnel expenses of INR 15 crore and other operating expenses of INR 48 crore.
The balance sheet remained robust with zero gross debt, supported by healthy cash and cash equivalents of INR 3,383 crore as of June 30, 2026, up from INR 3,283 crore at the end of March 2026.
Operational collections remained strong, with online collections reaching 97 percent across the company and its subsidiaries during the quarter.
01 · Business model
What does Den Networks do?
Incorporated in 2007 with its registered office in Maharashtra, Den Networks Limited operates as a leading cable television distribution company in India, offering a wide gamut of media distribution services across 13 key states spanning over 440 cities and towns.
The company's core cable network footprint covers major states including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand.
In addition to its core cable television operations, Den Networks operates in the broadband segment through its wholly owned subsidiary, DEN Broadband Limited, which was incorporated in 2011, holds a Unified License, and has its registered office in New Delhi.
02 · Historical context
What shaped the business before this quarter
Incorporated in 2007, Den Networks expanded its cable television distribution footprint over the years to reach over 440 cities and towns across 13 Indian states.
In 2011, the company expanded into the high-speed data segment by incorporating DEN Broadband Limited as a wholly owned subsidiary holding a Unified License.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹242.77 Cr |
| Total income | ₹298.17 Cr |
| Profit before tax | ₹47.67 Cr |
| Profit after tax | ₹34.59 Cr |
| EPS | ₹0.77 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Placement and marketing income contributed INR 134 crore during Q1 FY27, representing a 3% increase compared to INR 129 crore in the corresponding quarter of the previous fiscal year.
Subscription collections stood at INR 91 crore for Q1 FY27, registering a 14% decline compared to INR 105 crore in Q1 FY25-26 and a 2% sequential dip from Q4 FY25-26.
Other operating income surged to INR 16 crore in Q1 FY27 from INR 4 crore in Q1 FY25-26, while activation income remained stable at INR 2 crore.
What drove margins
Content costs increased by 10% year-on-year to INR 165 crore in Q1 FY27 compared to INR 150 crore in Q1 FY25-26, exerting downward pressure on operating margins.
Consolidated EBITDA stood at INR 13 crore for the quarter, translating to an EBITDA margin of 5%, down from 9% in Q1 FY25-26 due to higher content acquisition expenses.
Provisions for doubtful debts stood at INR 2 crore in Q1 FY27, moderating significantly from INR 7 crore in Q4 FY25-26.
05 · Demand, customers & order book
Where demand is coming from
The company achieved 97% online collection rates across its network including subsidiaries, demonstrating robust digital adoption among its subscriber base.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates primarily across cable television distribution and broadband services through its subsidiary DEN Broadband Limited, maintaining a zero-debt capital structure.
Geography and market mix
Den Networks' cable operations span 13 key states in India, including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Capital work-in-progress stood at INR 9 crore as of June 30, 2026, compared to INR 8 crore as of March 31, 2026.
08 · Reported developments
What changed operationally
The company closed Q1 FY27 with zero gross debt and robust cash and cash equivalents of INR 3,383 crore, reinforcing financial stability.
Online collections across the company and its subsidiaries reached 97%, reflecting efficient digital collection mechanisms.
09 · Pressure points & risks
What is not going smoothly
Subscription revenue contracted 14% year-on-year to INR 91 crore in Q1 FY27 from INR 105 crore in Q1 FY25-26.
Consolidated EBITDA declined 39% year-on-year to INR 13 crore, driven by higher content acquisition costs.
10 · Items worth noticing
The line items that can distort a quick read
Other income contributed INR 55.40 crore to total income in Q1 FY27, bolstering pre-tax profitability alongside core operational revenues.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Cash and cash equivalents rose to INR 3,383 crore as of June 30, 2026, compared to INR 3,283 crore at the end of March 2026.
Trade receivables stood at INR 256 crore as of June 30, 2026, up from INR 171 crore at March 31, 2026, while trade payables increased to INR 417 crore from INR 286 crore over the same period.
Capital allocation & funding
Den Networks maintained a zero gross debt status during Q1 FY27, supported by substantial internal cash reserves.
Finance costs for the quarter were minimal at INR 0.41 crore (reported as 0 in investor presentation rounding), reflecting the debt-free balance sheet.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Net Worth Expansion
Consolidated net worth increased to INR 3,822 crore as of June 30, 2026, compared to INR 3,785 crore as of March 31, 2026, driven by growth in reserves and surplus.
13 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue edged up 1% sequentially from INR 241 crore in Q4 FY25-26 to INR 243 crore in Q1 FY27, while content costs rose 7% from INR 155 crore to INR 165 crore.
14 · Key Q&A
The quarter, answered directly
What does Den Networks do?
Incorporated in 2007 with its registered office in Maharashtra, Den Networks Limited operates as a leading cable television distribution company in India, offering a wide gamut of media distribution services across 13 key states spanning over 440 cities and towns.
What is the clearest takeaway from Q1 FY27?
Den Networks Limited reported consolidated total revenue of INR 242.77 crore for the quarter ended June 30, 2026, alongside total income of INR 298.17 crore inclusive of other income amounting to INR 55.40 crore.
What drove revenue or demand?
Placement and marketing income contributed INR 134 crore during Q1 FY27, representing a 3% increase compared to INR 129 crore in the corresponding quarter of the previous fiscal year.
What mattered most for margins or profitability?
Content costs increased by 10% year-on-year to INR 165 crore in Q1 FY27 compared to INR 150 crore in Q1 FY25-26, exerting downward pressure on operating margins.
What changed operationally beyond the headline numbers?
Capital work-in-progress stood at INR 9 crore as of June 30, 2026, compared to INR 8 crore as of March 31, 2026.
What are the main pressure points disclosed for the quarter?
Subscription revenue contracted 14% year-on-year to INR 91 crore in Q1 FY27 from INR 105 crore in Q1 FY25-26.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subscription Revenue Trajectory: Monitor future quarterly reports for stabilization or recovery in core subscription revenues across the 13 operating states.
- 02
Content Cost Trends: Track content acquisition expenses and their impact on consolidated EBITDA margins in subsequent quarters.
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