Cable TV services provider DEN Networks Ltd reported a 6.8% year-on-year increase in net profit for the first quarter that ended on June 30, 2024. The company’s net profit rose to ₹45.5 crore from ₹42.6 crore in the corresponding quarter of the previous year, as stated in a regulatory filing on Monday, July 15.

Despite the increase in net profit, DEN Networks faced a decline in its revenue from operations. The company’s revenue dropped by 9.4% to ₹247.5 crore, compared to ₹273.2 crore in the same period of the previous fiscal year.

At the operating level, the company saw a decrease in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). EBITDA fell by 9.1% to ₹28.1 crore in the first quarter of this fiscal year, down from ₹30.9 crore in Q1 of FY24.

The financial results highlight a mixed performance for DEN Networks, with net profit growth despite declining revenue and operating income.