Cable TV
A bumpy ride for gross billing in Kolkata
KOLKATA: It’s been five months, since multi system operators (MSOs) started gross (consumer) billing. However, according to cable industry sources, consumers in certain pockets of the Kolkata Municipal Area (KMA) are unwilling to accept bills or pay the billed amounts.
On the other hand, there are three to four MSOs that have not yet handed over bills to the local cable operators (LCOs), and are instead uploading them to their servers and asking LCOs to take print outs thereof and give it to customers, sources inform.
MSOs are meeting regularly to discuss smooth rollout of gross billing in KMA, given that both West Bengal and central government authorities have asked them to expedite the billing process. “Since the billing process hasn’t kicked off in the way it should have, we are meeting on a regular basis to discuss issues like billing, collection and disputes among operators among others,” said a MSO on condition of anonymity.
Another source argued that MSOs that have not yet started the package could not have started the billing process either, so how can their gross billing be acceptable?
A GTPL-KCBPL official said that the company was facing collection issues in localities such as Sobha Bazaar among others in the KMA. “The problems include billing, area disputes etc,” informed another MSO.
“MSOs are billing the full amount of the package but actually, they are getting a much lesser amount in hand. This problem needs to be solved first,” said yet another MSO on condition of anonymity.
A city-based cable analyst meanwhile said, “Billing is a mess as LCOs are not willing to collect the billed amount and consumers are not willing to pay.”
Kolkata has nearly 30 lakh cable homes where till mid-January, MSOs were issuing ad hoc bills.
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.
