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Den Networks, the digital cable TV distribution service provider, has reported a massive jump in its profits for the first quarter ended June 30, 2010. The Company has posted 208% jump in its consolidated net profit at Rs 10.02 crore. The profits surged from Rs 3.24 crore in the first quarter ended June 30, 2009.

The consolidated revenues for Q1FY11 for the company stood at Rs 245.98 crore increasing from Rs 213.76 crore in Q1FY10. This highlighted a rise of 16% in the revenues of Den.

For the expenditure, Den Networks has incurred Rs 226.36 crore in the current quarter against Rs 199.94 crore in the corresponding period in previous quarter.

On a standalone basis the revenues were reported at Rs 75.23 crore and the expenses incurred were Rs 76.75 crore for the Q1 FY11. The revenues decreased marginally from Rs 76.75 crore and expenses increased from Rs 72.89 crore in the Q1 last fiscal.

The Company has utilised proceeds from the IPO, carried in October, 2009, in development of cable TV infrastructure, development of cable broadband infrastructure service, acquisition of content and broadcasting rights, repayment of loans and in general corporate expenses.

The company is promoted by Sameer Manchanda, an industry veteran with over 20-years of experience in media & channel distribution.