Cable TV
No phoney deal; MTNL gets serious about cable TV services
Mahanagar Telephone Nigam Limited is seeking consultants for its proposed foray into the field of cable TV and associated services in Delhi and Mumbai.
The state run telecom behemoth has stipulated a minimum annual turnover of Rs 250 million for the firm that offers its consultancy services. The Nigam, in a press notice inviting tenders for the consultancy, has asked for details of experience in cable TV consultancy from the firms applying for the deal, as well as details of professional expertise of the key personnel and of specialised manpower, a list of the firms’ major clients, outstanding achievements and awards.
Last week, minister of state for telecom Tapan Sikdar had announced the government’s intention to enter the cable television business along with a government owned broadcaster. Sikdar had told Parliament that MTNL, being a provider of fixed line, cellular and Internet access services in the two metropolises, could meet customers’ needs of entertainment, information and education with such an alliance.
MTNL, Sikdar said, would be granted an alliance to start a cable network using its optic fibre and copper cable network in the two cities. The Nigam would use content provided by Prasar Bharati to offer multimedia services and give customers access to streaming video, he said.
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.
