Den Networks Gains 7pc Post Reporting Q1 Numbers

The cable television distribution company DEN Networks Ltd reported a 2pc jump in the subscription revenue to Rs.189-crore in first quarter June 2019, on Year-on-Year basis.  The consolidated EBITDA of the company was declined by 11pc to Rs.41-crore during the aforesaid period.

Reacting to these results, the stock was on upper circuit in the morning session. DEN Networks Ltd opened at Rs.65.05 per share and registered a high of Rs 69.95 and also touched to a low of Rs 62.00 per share.

At 12:10 hours, the stock was trading at Rs.67.30 per share, up by 7% on Friday. Meanwhile, the benchmark indices remained flat with BSE Sensex at 38805 down by 17.97 points and the Nifty at 11,578.40 down by 4.50 points.

Meantime, the Nifty media index, in which DEN Networks is a component, is trading 0.88% higher at 2,075.25.  The Den Net Work is the top rising stock in the Nifty media index, followed by Hathway, Sun TV, Eros Media and Dish TV.

Among 50scrip Nifty stocks, 28 stocks were trading in the green and the 22 were in the red.