Indian multi system operator (MSO) Den Networks is targeting a 20% growth in revenue from its cable TV operation during its current financial year, through fees levied of subscribers and broadcasters, according to Indian Television.

The MSO reportedly posted earnings of INR5.72 billion from its cable TV business for the year ending 31 March 2011; up 25% from INR4.57 billion in FY2009-201.

Star Den – the channel distribution joint venture between Star India and Den – is predicted to grow by 15% in the current financial year.

“We are bullish about our future growth. This will be driven by increasing digitisation and a burgeoning broadcasting market where more and more channels will continue to expand,” M G Azhar, president – strategy and business development, Den Networks, told Indian Television.

For financial year 2011, the online publication reports Den Networks posted a 43% jump in earnings before income, tax, depreciation and amortisation (EBITA) to INR 1.17 billion from the cable TV business compared to INR 820 million in the earlier year.

Net profit from cable TV rose 86% to INR 267 million, according to the report.

“We gained from economies of scale and saw revenue growth due to subscription and placement fees,” Mr Azhar told Indian Television.