Den Networks has today outperformed the sector by 3% and it is very much in the deep green today post its encouraging earnings for Q1Fy20. The stock opened 3.6% higher at Rs.65 and went on to an intraday high at Rs.69.85, rising almost 11.5%.
The company, for the first quarter, reported a consolidated net profit of Rs.11.23 crore v/s net loss of Rs.31 crore (YoY) though net sales fell 0.3% to Rs.313 crore.
EBITDA was down 11% at Rs.41 crore.
The finance cost reduced over last 2 quarters mainly due to improved credit rating and pre-payments of loans.
It reported a 2% rise in the subscription revenue to Rs 189 crore in Q1FY20.