DEN Networks hits near 2-month high on Q1 profit

Reuters July 12 | Updated on July 12, 2019 Published on July 12, 2019

Shares of DEN Networks Ltd rose as much as 7.3 per cent to ₹67.5, their highest since May 20. At 10.50 am, the stocks of DEN Networks were trading 9.24 per cent higher at ₹68.55.

Cable TV and broadband service provider posted June-quarter profit of ₹112.3 million ($1.64 mln), compared to loss of ₹307 million year ago. The total revenue jumped 15 per cent. Last year, DEN reported exceptional item of ₹21,100 crore, leading to a loss.

More than 763,446 shares traded, compared with their 30-day moving average of about 76,800 shares. Up to last close, shares of DEN have fallen 10.5 per cent this year, while peer Hathway Cable and Datacom down ~26 per cent in the same period ($1 = 68.5100 Indian rupees).

Published on July 12, 2019

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