DEN Networks Limited — Interim / Quarterly Report 2022

Jul 16, 2021

BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza
Dalal Street	Plot No. C/1, G Block
Mumbai-400 001	Bandra-Kurla Complex
	Bandra (East), Mumbai-400 051
Scrip Code-533137	Trading Symbol-DEN

Dear Sir(s),

Sub: Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2021

In continuation of our letter dated July 09, 2021 and pursuant to Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2021, duly reviewed and recommended by the Audit Committee and approved by the Board ofDirectors ofthe Company, at its meeting held today i.e. July 16, 2021 and Limited Review Reports of the Statutory Auditors on the above Results.

The Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2021, as approved by the Board, will also be available on the Company's website www.dennetworks.com.

The meeting of the Board of Directors commenced at 4:00 P.M. and concluded at 5: 45 P.M.

You are requested to take the same on record.

Thanking You,

Yours faithfully,

For DEN NETWORKS LIMITED

Jatin Mahajan Company Secretary

Encl: as above

DEN NElWORKS LIMITED

CIN: L92490MH2007PLC344 765 Registered Office: Unit No.116,First Floor,CWing Bldg. No.2 Kailas, lndustrialComplex L.B.S Marg Park Site Vikhroli(W), Mumbai, Mumbai City, Maharashtra, India, 400079 Landline: +91 22 61289999IIE-mail: den@denonline.in 11 Website: www.dennetworks.com

Independent Auditor's Review Report on Standalone Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

CHATURVEDI . SHAH LLP

Chartered Accountants

To,

The Board of Directors of DEN NETWORKS LIMITED

• 1. We have reviewed the accompanying statement of standalone unaudited financial results of Den Networks Limited ("the Company") for the period ended 301h June, 2021 (''the statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (" the Regulation"), as amended.
• 1. This statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and an analytical procedure applied to finand al data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai-400 021, India. Tel.: +91223021 8500 • Fax :+91223021 8595 Other Offices: 44 - 46, •c• Wing, Mittal Court, Nariman Point, Mumbai - 400 021, lndla. Tel.: +91 22 4510 9700 • Fax : +i:11 :>:> 4~rnqn:,

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of standalone unaudited financial results, prepared in accordance with the applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Chaturvedi & Shah LLP Chartered Accountants Registration No. 101720W/ W100355

\Y.(-·

Partner Membership No. 109859 UDIN: 21109859AAAADJ4030

Place: Mumbai

Date: 16th July 2021

DEN NETWORKS LIMITED

CIN:L92490MH2007PLC344765

Registered Office: Unit No.116, First Floor,C Wing Bldg. No.2 Kallas, Industrial Complex L.B.S Marg

Park Site Vikhroli(W), Mumbai- 400079

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2021

ParticularsQuarter Ended30 June'2131 March'2130 June'20(Unaudited)(Audited)(Unaudited)1. Income(a) Revenue from operations2,888.703,207.862,692.86(b) Other Income333.59280.31625.852. Total income3,222.293,488.173,318.713.Expenses(a) Cost of traded items39.8059.5840.20(b) Content cost1,338.591,543.331,553.26(c) Placement fees342.15382.09335.89(d) Employee benefits expense167.00147.42152.28(e) Finance costs6.700.4522.13(f) Depreciation and amortisation expenses374.04398.14239.93(g) Other expenses449.91595.22369.842,657.074.Total expenses2,788.823,112.06Profit before tax (2-4)433,47661.64376.115.Tax expense6.--(a) Current tax2.79---(b) Deferred tax	Year Ended31 March'21(Audited)12,402.531,902.7714,305.30223.895,965.341,577.67598.30
	32.67
	1,587.25
	1,855.01
	11,840.13
	2,465.17
	6.16
	-
--Total tax expense2.797.	6.16
s.Profit after tax (5-7)373.32661.64433.47	2,459.01
Other comprehensive Income:9.
(1) Items that will not be reclassified to profit and loss0.052.97(A)(3.14)	0.92
---(ii) Income tax effect on above	-
-(B) (I) Item that will be reclassified to profit and loss36.49(190.65)	(190.65)
---(II) Income tax effect on above	-
(3.14)(187.68)36.5410. Total other comprehensive Income	(189.73)
11, Total comprehensive income (8+10)470,01185.64658.50	2,269.28
12. Paid-up equity share capital (net) (Face value Rs. 10/-)4,767.664,767.664,767.66	4,767.66
13. Other Equity excluding reveluatlon reserve	24,693.88
14. Earnings per share (EPS) (Face value Rs. 10/-)
0.78*1.39*(a) Basic EPS0.91*	5.16
0.78*1.39*(b) Diluted EPS0.91*	5.16
*not annualised
See accompanying notes to the standalone financialresults

Notes to the standalone unaudited financial results:

• 1 The figures for the corresponding previous period / year have been regrouped / rearranged wherever considered necessary to make them comparable.
• The figures for the quarter ended 31st March 2021 are balancing figures between the audited figures in respect of full financial year and reviewed year to date figures upto the third quarter of that financial year.
• 2 The audit committee has reviewed the above results and the Board of Directors has approved the above results and its release at their respective meetings held on 16th July 2021.The Statutory auditor of the Company has carried out a limited review of the above results for the quarter ended 30th June 2021.
• 3 The Company Is engaged only in the cable business hence there is no separate reportable segment as per requirements of Ind AS 108 - Operating Segments.
• 4 The Company has Investments of Rs. 4,853.86 million (net of provision for impairment of Rs. 192.21 million) in subsidiary companies and associate companies as <:>n 30th June, 2021. Of these, net worth of investments with carrying value of Rs. 2,679.98 million (net of provision for Impairment of Rs. 192.21 million) and balances of loans/ advances of Rs. 173.99 million as at 30th June, 2021 have fully/substantially eroded. Of these, Investments aggregating to Rs. 194.87 million (net of provision for Impairment of Rs. 4.16 million) in companies whose net worth is fully/substantially eroded have earned profits for the quarter ended 30th June, 2021. Based on the projections, the management of the Company expects that these companies will have positive cash flows to adequately sustain Its operations In the foreseeable future and therefore no further provision for Impairment is considered necessary.
• 5 During the year ended 31st March 2019, the Company had allotted on preferential basis 28,14,48,000 equity shares of Rs. 72.66 each at a premium of Rs. 62.66 per share aggregating to Rs. 20,450.00 million. The proceeds of preferential allotment amounting to Rs. 20,450.00 million have been temporarily invested In liquid mutual funds and fixed deposits, pending utilisation for the same.

For and behalf of Board of Directors of DEN NETWORKS LIMITED

S.N. Sharma Chief Executive Officer

New Delhi 16 July, 2021

CHATURVEDI : SHAH LLP Chartered Accountants

~

Independent Auditor's Review Report on consolidated unaudited finane:ial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To,

The Board of Directors of DEN NETWORKS LIMITED

• 1. We have reviewed the accompanying statement of consolidated unaudited financial results of Den Networks Limited ("the Parent") and its subsidiaries (the parent and its subsidiaries together refer to as "the Group"), and its share of the net profit after tax and total comprehensive income of its associates for the quarter ended 30th June, 2021 ("the statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 ('the Regulation'), as amended.
• 1. This statement, which is the responsibility of the parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the statement based on our review.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure ~BAJ Requireme~: s) Regulations, 2015, a.s : men~~ t~-~~e extent applicable.

Office: 714·715, Tulsiani Chambers, 212, Nariman Point, Mumbai. 400 021, India, Tel.: +91223021 8500 • Fax :+91223021 8595 Offices: 44 -46, ·c• Wing, Mittal Court, Narlman Point, Mumbai• 400 021, India. Tel.: +91 22 4510 9700 • Fax: +91 22 41i1nA7'?

• Chartered Accountants
• 1. The statement includes the results of the entities listed in Annexure A i~
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying statement of consolidated unaudited financial results, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information/financial results of 12 subsidiaries included in the consolidated unaudited financial results, whose interim financial information/financial results reflect total revenue of Rs. 1051 .03 million, total net profit after tax of Rs. 14.78 million and total comprehensive income of Rs 14.86 million for the quarter ended 30th June, 2021, as considered in the consolidated unaudited financial results . These interim financial information/financial results have been reviewe.d by other auditors, whose reports have been furnished to us by the Management and our conclusion on the statement, in so far as it relates to the amount and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the statement is not modified in respect of the above matters with respect to our reliance on the work done and the report of other auditors.

1. The consolidated unaudited financial result includes the interim financial information/financial results of 91 subsidiaries, which have not been reviewed by their auditors, whose interim financial information/financial results reflect total revenue of Rs. 221 .18 million, total net profit/ (loss) after tax of Rs .(1.54) million and total comprehensive income of Rs. 0.36 million for the quarter ended 30th June, 2021, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also includes the Group's share of net profit after tax of Rs. 4.28 million and total comprehensive income of Rs. 4.29 million for the quarter ended 30th June, 2021 , as considered in the consolidated unaudited financial results in respect of 6 associates, based on their interim financial information/financial results which have not been reviewed by their auditors. According to the information and explanations

. b h M h . . f' CHATfURVEDI RI SHAH LLP given to us y t e anagement, t ese interim 1nanc1ar in orma~~ncountants results are not material to the Group.

Our conclusion on the statement is not modified in respect of the above matter.

For Chaturvedi & Shah LLP Chartered Accountants Registration No. 101720W/W100355

Vijay Napawaliya Partner Membership No. 109859 UDIN: 21109859AAAADK6390

Place: Mumbai Date: 16th July 2021

CHATURVEDI . SHAH LLP

Chartered Accountants

Annexure A

List of entities consolidated a) Subsidiaries

S. No. Name of Company

• 1 Den Broadband Limited
• 2 Futuristic Media and Entertainment Limited
• 3 Den Aman Entertainment Private Limited
• 4 Den Budaun Cable Network Private Limited
• 5 Den F K Cable Tv Network Private Limited
• 6 Den Jai Ambey Vision Cable Private Limited
• 7 Den Pradeep Cable Network Limited
• 8 Den Prince Network Limited
• 9 Den Satellite Cable Tv Network Limited
• 10 Den Va run Cable Network Limited
• 11 Meerut Cable Network Private Limited
• 12 Den Kashi Cable Network Limited
• 13 Den Maa Sharda Vision Cable Networks Limited
• 14 Big DEN Entertainment Limited
• 15 Sanmati Entertainment Limited
• 16 Eminent Cable Network Private Limited
• 17 Rose Entertainment Private Limited
• 18 Mansion Cable Network Private Limited
• 19 Den Steel City Cable Network Limited
• 20 Den A.F. Communication Private Limited
• 21 Multi Channel Cable Network Limited
• 22 Sanmati DEN Cable TV Network Private Limited
• 23 Antique Communications Private Limited
• 24 Trident Entertainment Private Limited
• 25 Blossom Entertainment Private Limited
• 26 Silverline Television Network Limited
• 27 Devine Cable Network Private Limited
• 28 Nectar Entertainment Limited
• 29 Glimpse Communications Private Limited
• 30 lndradhanush Cable Network Limited
• 31 Adhunik Cable Network Limited
• 32 Den Elgee Cable Vision Private Limited
• 33 Den Malabar Cable Vision Limited
• 34 Den Malayalam Telenet Private Limited
• 35 Den Citi Channel Limited
• 36 Cab-l~Net Communications Private Limited
• 37 Den Sariga Communications Limited
• 38 Den Kattakada Telecasting and Cable Services Limited
• 39 Sree Gokulam Starnet Communication Limited
• 40 Den Men Cable Network Limited
• 41 Drashti Cable Network Limited

Chartered Accountants

• 42 Fortune (Baroda) Network Private Limited
• 43 Den Patel Entertainment Network Private Limited
• 44 Mahadev Den Cable Network Limited
• 45 Den Rajkot City Communication Private Limited
• 46 Shree Sidhivinayak Cable Network Limited
• 47 Galaxy Den Media & Entertainment Private Limited
• 48 United Cable Network (Digital) Limited
• 49 Den Sahyog Cable Network Limited

50 Amogh Broad Band Services Private Limited

• 51 Den-Manoranjan Satellite Private Limited
• 52 Den Nashik City Cable Network Private Limited
• 53 Den Supreme Satellite Vision Private Limited
• 54 Den Discovery Digital Network Private Limited
• 55 Den Premium Multilink Cable Network Private Limited
• 56 Gemini Cable Network Limited
• 57 Den Ashu Cable Limited
• 58 Den Bindra Network Private Limited
• 59 Den Classic Cable Tv Services Limited
• 60 Den Harsh Mann Cable Network Limited
• 61 Den Krishna Cable Tv Network Limited
• 62 Den Mahendra Satellite Private Limited
• 63 Den Pawan Cable Network Limited
• 64 Fab Den Network Limited
• 65 Crystal Vision Media Private Limited
• 66 Multi Star Cable Network Limited
• 67 Den Radiant Satelite Cable Network Private Limited
• 68 Radiant Satellite (India) Private Limited
• 69 Ekta Entertainment Network Limited
• 70 Den Enjoy Cable Networks Private Limited
• 71 Den Fateh Marketing Private Limited
• 72 Mahavir Den Entertainment Private Limited
• 73 Ambika Den Cable Network Private Limited
• 74 Den VM Magic Entertainment Limited
• 75 Den Ambey Cable Networks Private Limited
• 76 Disk Cable Network Private Limited
• 77 Multitrack Cable Network Private Limited
• 78 Desire Cable Network Limited
• 79 VBS Digital Distribution Network Limited
• 80 Oen Ben Suncity Network Limited
• 81 Den Crystal Vision Network Limited
• 82 Oen Mod Max Cable Network Private Limited
• 83 Bali Den Cable Network Limited
• 84 Victor Cable TV Network Limited
• 85 Den Digital Cable Network Limited
• 86 Libra Cable Network Limited
• 87 Jhankar Cable Network Limited
• 88 Augment Cable Network Private Limited

• 89 Marble Cable Network Private Limited
• 90 Divya Drishti Den Cable Network Private Limited

CHATURVEDI . SHAH LLP

Chartered Accountants

• 91 Kishna DEN Cable Networks Private Limited
• 92 Bhadohi DEN Entertainment Private Limited
• 93 Maitri Cable Network Private Limited
• 94 ABC Cable Network Private Limited
• 95 Srishti DEN Networks Limited
• 96 Angel Cable Network Private Limited
• 97 Den Enjoy Navaratan Network Private Limited
• 98 DEN Enjoy SBNM Cable Network Private Limited
• 99 DEN STN Television Network Private Limited
• 100 Mountain Cable Network Limited
• 101 Den Faction Communication System Limited
• 102 Fun Cable Network Private Limited
• 103 Den Saya Channel Network Limited
• 104 DEN Prayag Cable Networks Limited

b) Associate entities

S. No. Name of Company

• 1 Den Satellite Network Private Limited
• 2 DEN New Broad Communication Private Limited
• 3 Konark IP Dossiers Private Limited
• 4 DEN ABC Cable Network Ambarnath Private Limited
• 5 DEN ADN Network Private Limited
• 6 CCN DEN Network Private Limited

١î.12.3.4.s.6.7.8.9.10.	ParticularsIncome(a) Revenue from operations(b) Other IncomeTotal IncomeExpenses(a) Content cost(b) Placement Fees(c) Employee benefits expense(d) Finance costs	30 Jun'21(Unaudited)3,029.73332,813,362.54	Ouarter Ended31 Mar'21(Audited)3,262.33292.913,555.24	30 Jun'20(Unaudited)3,013.13631.55	(Rs. In million except per share data)Year Ended31 Mar'21(Audited)
					13,074.04
				3,644.68	1,908.3714,982.41
		1,557.09	1,567,71	1,351.96	6,020.33
		35.59	29.30	35.90	140.49
		225.25	215.04	239.16	906.04
		0.05	0.70	22.59	33.48
	(e) Depreciation and amortisation expense	399.98	614.21	633,08	2,506.21
	(f) Other expenses	735.64	801.44	746.85	3,444.64
	Total expenses	2,953.60	3,228.40	3,029.54	13,051.19
	Profit before share in profit/ (loss) of associates and taxexpense (2-4)	408.94	326.84	615.14	1,931.22
	Share of profit/ (loss) of associates	4.28	(0.45)	(28.92)	(76,00)
	Profit before tax (5+6)	413.22	326.39	586.22	1,855.22
	Tax expense
	(a) Current tax	5.02	(12.03)	15.12	19.63
	(b) Deferred taxTotal tax expense	(0.98)4.04	(0.50)(12.53)	(12.10)3.02	(53.62)
					(33.99)
	Profit after tax (7-9)	409.18	338.92	583,20	1,889.21
11.	Other comprehensive income:(A) (i) Items that will not be reclassified to profit and loss
	(ii) Income tax effect on above	2.47(0.01)	24.27(5.28)	(3.38)(0.14)	23.46
	(iii) Share of other comprehensive income in associates to the	0.01	0.02	(0.29)	(5.29)(0.64)
	extent that will not be reclassified to profits and loss
	(B) (I) Items that will be reclassified to profit and loss	36,49	(190.65)	$\blacksquare$	(190.65)
	(II) Income tax effect on above			ä,
12.	Total other comprehensive income	38.96	(171.64)	(3.81)	(173.12)
13.	Total comprehensive income (10+12)	448.14	167.28	579.39	1,716.09
14.	Profit / (Loss) attributable to:- Owners of the Company
	- Non-controlling interest	411.45	369.81	586.52	1,979.62
		(2.27)409,18	(30.89)338,92	(3.32)583,20	(90.41)1,889.21
15.	Other comprehensive income attributable to:
	Owners of the Company	38.92	(174.79)	(3.94)	(176.02)
	Non-controlling interest	0.0438.96	3.15(171.64)	0.13(3.81)	2.90
					(173.12)
16.	Total comprehensive income attributable to:
	- Owners of the Company	450.37	195.02	582.58	1,803.60
- Non-controlling interest	(2.23)	(27.74)	(3.19)	(87.51)
		448.14	167,28	579.39	1,716.09
17.	Pald-up equity share capital (net) (Face value Rs. 10/-)	4,767.66	4,767.66	4,767.66	4,767.66
18.	Other equity (excluding revaluation reserve)				22,978.23
19,
	Earnings per share (EPS) (Face value Rs. 10/-)
	(a) Basic	$0.86*$	$0.78*$	$1,23*$	4.15
See accompanying notes to the consolidated financial results	(b) Diluted*not annualised	$0.86*$	$0.78*$	$1.23*$	4.15

DEN NETWORKS LIMITEDCIN: L92490MH2007PLC344765Registered Office: Unit No.- 116, First Floor, C Wing Bidg. No. 2, Kailas Industrial complex, L.B.S. Marg, Park Site, Vikhroll (W), Mumbai-400079CONSOLIDATED UNAUDITED SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH JUNE 2021
				(Rs. in million)
Particulars	Ouarter Ended	Year Ended
	30 Jun'21	31 Mar'21	30 Jun'20	31 Mar'21
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
Seament Revenue(a) Cable distribution network	2,866.74	3,064.43	2,844.65	12,326,21
(b) Broadband	162.99	197.90	168,48	747.83
Total	3,029.73	3,262.33	3,013.13	13,074.04
Segment Results
(a) Cable distribution network	118,42	86.62	69.33	218.20
(b) Broadband	(42.24)	(51.99)	(63.15)	(161.87)
Total	76.18	34.63	6.18	56.33
Add/Less:
I. Finance costs	(0.05)	(0.70)	(22.59)	(33.48)
II. Other income	332.81	292.91	631.55	1,908.37
Profit /(Loss) before share in profit/ (loss) of associates and	408.94	326.84	615.14	1,931.22
tax expense
Add: Share of profit/(loss) of associates	4.28	(0, 45)	(28, 92)	(76.00)
Profit/ (Loss) before tax	413.22	326.39	586.22	1,855.22
Less: Tax expense	4.04	(12.53)	3.02	(33.99)
Profit / (Loss) after tax	409.18	338.92	583.20	1,889.21
Segment Assets
(a) Cable distribution network	9,454.51	9,322.06	10,949.75	9,322.06
(b) Broadband	544.51	609.50	727.93	609.50
Total segment assets	9,999,02	9,931.56	11,677.68	9,931.56
Add: Unallocated assets	25,082.91	24,606.00	23,410.16	24,606.00
Total assets	35,081.93	34,537.56	35,087.84	34,537.56
Segment Liabliities
(a) Cable distribution network	6,034.64	5,903.15	7,477.13	5,903.15
(b) Broadband	226.82	236.33	281.66	236.33
Total segment liabilities	6,261.46	6,139.48	7,758.79	6,139.48
Add: Unallocated liabilities	5.45	5.45	14.78	5.45
Total liabilities	6,266.91	6,144,93	7,773.57	6,144.93

Notes to the consolidated unaudited financial results:

1 The figures for the corresponding previous period / year have been regrouped / rearranged wherever considered necessary to make them comparable.

The figures for the quarter ended 31st March 2021 are balancing figures between the audited figures in respect of full financial year and reviewed year to date figures upto the third quarter of that financial year.

• 2 The consolidated financial results relate to DEN NETWORKS LIMITED ('the Company' or 'the Parent Company'), its subsidiaries companies and its associates, collectively referred to as 'the Group'.
• 3 The audit committee has reviewed the above results and the Board of Directors has approved the above results and its release at their respective meetings held on 16th July 2021. The Statutory Auditor of the Company has carried out a limited review of the above results for the quarter ended 30th June 2021.
• 4 During the year ended 31 March 2019, the Company had allotted on preferential basis 28,14,48,000 equity shares of Rs. 72.66 each at a premium of Rs. 62.66 per share aggregating to Rs. 20,450.00 million. The proceeds of preferential allotment amounting to Rs. 20,450.00 million have been temporarily invested in liquid mutual funds and fixed deposits, pending utilisation for the same.
• 5 During the quarter, Futuristic Media & Entertainment Limited ("FMEL") (a wholly owned subsidiary of the Company) filed a Composite Scheme of Amalgamation amongst FMEL and Its fifty three (53) wholly owned subsidiaries and their respective shareholders and creditors in terms of Sections 233 and all other applicable provisions of the Companies Act, 2013. The appointed date for the Scheme is 01st April, 2021, while the effectiveness of the Scheme is Inter alla conditional upon and subject to requisite approvals and the consolidated financial results of the Company have been prepared without giving effects thereof.

Directors ED

NOA naglng Director

DI

-->

S.N. Sharma Chief Executive Officer

New Delhi 16th July, 2021