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Den Networks Limited, a leading pan-India cable distribution company, has posted its financial results for the quarter ended December 31, 2009.

The company has registered net profit of Rs 77.2 million on the consolidated basis for third quarter of financial year 2010. The revenues of Den Networks stood at Rs 2.35 billion in the quarter, marking an increase of 6% from the previous three-month period.

Den Networks is a company promoted by industry-veteran Sameer Manchanda with Raghav Bahl Promoter, Network18 Group, on board as a director of the Company. The multi-system operator (MSO) has an estimated subscriber base of around 10 million in 77 cities across India.

The earning before tax was rose 35% from pervious quarter to Rs 286.9 million. The total expenses for the quarter accounted to be Rs 2.2 billion.

During the quarter, Den Networks issued its IPO and got listed on the exchanges. It raised Rs 3.64 billion through the IPO. The proceeds from the IPO would be used to partly fund the infrastructure development plans of the company to enhance its services for cable television, cable broadband as well as acquisition of content and broadcasting rights amongst others.

The company has also launched a 24-hour music service across 10 genres on its digital platform. Furthermore, Den Networks introduced its micro-blogging service 'blog.telly' on its digital platform that provides its subscribers with the facility to blog on TV through SMS or via the Den's digital website.