Cable TV
Siti Cable could go prepaid within three months
MUMBAI: National multi system operator (MSO) Siti Cable is looking at options of going prepaid.
While the MSO will test the viability of the model in Delhi first, it will also replicate it in other states, at a later stage. “What we have seen is that whatever we do in the Delhi market, when replicated outside, works well,” says Siti Cable CEO VD Wadhwa.
The prepaid model that Siti Cable is looking at will be based on the local cable operator (LCO) depositing an advance to the MSO and then collecting the same from the consumer. “We have given the power of managing the subscriber management system (SMS) to the LCO, so they can change packages or switch on or switch off boxes of customers who do not pay them the cable TV bill,” informs Wadhwa.
The LCO according to the prepaid model will get the signals from the MSO so long as his credit balance remains. “The LCO will have to keep renewing his credit balance to get uninterrupted services, the moment his balance becomes zero, we will disconnect the signal,” he says.
The LCOs through this model will have to find the defaulters and take corrective action accordingly. The key to moving prepaid is to give access of SMS to the LCOs.
Not only this, going forward the LCOs can also make the system prepaid at their end by billing the customers in advance. This will also help the LCOs find out defaulters.
While Siti Cable also has the option of recharging through their website, they have realised it upsets the LCOs. “We have to build the trust between the LCOs and MSO and let the LCO handle the customers,” he opines.
Wadhwa is hopeful that the system will be in place within three months.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
