DEN Networks FY26 PAT up 4.6% to ₹1,227 crore; revenue flat at ₹12,282 crore

DEN Networks Limited has reported a steady financial performance for the financial year ended March 31, 2026, with marginal growth in standalone revenue and improved profitability, even as consolidated earnings saw a decline on a year-on-year basis. 

The company’s board of directors, at its meeting held on April 14, 2026, approved the audited standalone and consolidated financial results for both the quarter and full financial year, along with auditors’ reports carrying unmodified opinions. 

On a standalone basis, DEN Networks reported revenue from operations of ₹10,009.17 million for FY26, reflecting a modest increase from ₹9,891.45 million in the previous fiscal. Total income stood nearly flat at ₹12,282.10 million compared with ₹12,279.77 million a year ago. 

Profit after tax (PAT) rose to ₹1,227.53 million for FY26, up from ₹1,173.96 million in FY25, indicating improved operational efficiency despite stable top-line growth. 

For the March quarter, the company posted revenue of ₹2,496.85 million and PAT of ₹289.06 million. 

Expenses during the year were largely driven by content costs, which increased to ₹6,158.52 million from ₹5,794.60 million, while employee benefit expenses declined, aiding margin expansion. 

On a consolidated basis, however, the company reported a decline in revenue and profitability. Revenue from operations fell to ₹9,742.80 million in FY26 from ₹10,054.08 million in FY25. 

Profit after tax declined to ₹1,656.25 million, compared with ₹1,967.30 million in the previous fiscal, reflecting pressure on overall group performance. 

For the March quarter, consolidated PAT stood at ₹364.29 million, down from ₹598.61 million a year earlier. 

The company said its consolidated results include the performance of 21 subsidiaries and five associate entities. 

DEN Networks continues to operate primarily in the cable distribution business, with broadband as a secondary segment.

The cable distribution segment contributed ₹9,501.87 million to FY26 revenue, while broadband added ₹420.93 million. Both segments witnessed a decline in profitability, with segment losses widening during the year. 

The company maintained a strong balance sheet, with total standalone assets rising to ₹43,416.76 million as of March 31, 2026. Equity stood at ₹38,532.74 million, indicating a robust capital structure. 

Cash and bank balances saw a significant increase, driven by higher deposits and investment activity. However, standalone operating cash flow remained negative at ₹553.50 million, largely due to higher tax outflows. 

While DEN Networks’ standalone business showed resilience with stable revenue and improved profitability, the consolidated performance highlights challenges across subsidiaries and the broader cable distribution ecosystem.

The company’s continued investments in financial instruments and stable equity base suggest a focus on maintaining liquidity and financial flexibility amid evolving industry dynamics.