DTH
Den-tastic rebound as profits climb despite dip in revenues
MUMBAI: Den Networks has dialled in a steady signal of profitability, even as top-line numbers took a slight dip. The cable and broadband player closed FY25 with a standalone net profit of Rs 1,173.96 million, despite a drop in annual revenue from operations to Rs 9,891.45 million, down from Rs 10,347.56 million in FY24. Total income for the year stood at Rs 12,279.77 million, marginally lower than the Rs 12,391.39 million earned in the previous fiscal.
Even with this modest revenue decline, Den managed to hold its ground thanks to tighter cost controls and robust income from other sources, which rose to Rs 2,388.32 million in FY25, up from Rs 2,043.83 million a year ago. Placement fees and employee benefit expenses remained largely consistent, while content costs dipped to Rs 5,794.60 million from Rs 6,012.47 million.
On the earnings front, profit before tax came in at Rs 1,588.47 million, and the company reported a basic and diluted earnings per share of Rs 2.46 for FY25, compared to Rs 3.68 in FY24. The total comprehensive income stood at Rs 1,178.83 million.
Den’s standalone balance sheet also reflected financial prudence, with total assets at Rs 42,496.64 million and equity capital of Rs 4,767.66 million. Cash and cash equivalents stood at Rs 106.11 million, a drop from Rs 171.73 million in FY24, reflecting increased capital expenditure and strategic investments.
On the consolidated front, Den clocked a net profit of Rs 1,967.30 million for FY25, supported by a total income of Rs 12,495.34 million and contributions from 24 subsidiaries and 5 associates. Profit attributable to the parent company’s shareholders was Rs 2,000.62 million. Its cable distribution segment remained the primary revenue driver, raking in Rs 9,780.35 million, while broadband contributed Rs 453.73 million.
Den also made headway in cost management across its subsidiaries. Depreciation and amortisation dropped year-on-year from Rs 1,128.10 million to Rs 1,057.65 million. Total liabilities declined to Rs 4,825.45 million from Rs 4,630.70 million, with the company maintaining a strong equity base of Rs 36,596.46 million, including Rs 400.81 million in non-controlling interest.
Cash from operating activities stood at Rs 183.00 million, down from Rs 836.28 million in FY24, largely due to higher outflows in tax and receivables. The company closed the year with cash reserves of Rs 159.23 million.
Auditors Chaturvedi & Shah issued an unmodified opinion on both standalone and consolidated financial statements, confirming the company’s clean financial health.
With a focus on digital transformation and regional expansion, Den seems poised to keep its broadband and cable businesses in sync with the shifting currents of India’s media landscape.
DTH
DD Free Dish e-auction revenue dips to Rs 642 crore as slot sales fall
Revenue dips as revised norms reshape bidding in 94th round
NEW DELHI: Prasar Bharati’s DD Free Dish has closed its 8th annual, and 94th overall, e-auction for MPEG-2 slots with total collections of Rs 642 crore for the period April 1, 2026 to March 31, 2027.
That is lower than last year’s Rs 780 crore haul, with 55 slots sold compared with 61 in FY25–26. The softer topline reflects both a slimmer inventory and a recalibrated auction framework.
This was the first auction conducted after amendments to the e-auction methodology, including tighter eligibility norms and a revised reserve price structure for MPEG-2 slots. The stated aim was greater transparency and more serious participation. The immediate outcome appears to be more measured bidding in certain categories.
Day one set the tone. Eight slots were sold, six in the premium Bucket A+ and two in Bucket A. The strong early action in A+, which typically houses Hindi GECs and movie channels, reaffirmed the enduring appeal of mass Hindi programming on the platform.
Among the broadcasters securing slots in the initial rounds were Zee Entertainment Enterprises, Sony Pictures Networks India, Viacom18’s Colors network, Sun Network and Shemaroo Entertainment. Their continued presence signals that, despite the pull of digital platforms, Free Dish remains a strategic must have for legacy networks chasing scale in price sensitive markets.
The final bouquet of 55 channels leans heavily towards Hindi news, movies, devotional fare, Bhojpuri and regional programming.
In Hindi news, familiar heavyweights such as Aaj Tak, ABP News, India TV, News18 India, Republic Bharat and Zee News made the cut. Entertainment and movie offerings include Colors Rishtey, Star Utsav, Dangal TV, Sony Pal, Shemaroo TV, Goldmines, B4U Movies and Zee Biskope. Devotional viewers will find Aastha, Sanskar and Sadhna Gold among the selected channels.
Regional representation includes Sun Marathi, Fakt Marathi, PTC Punjabi and GTC Punjabi.
Equally telling were the absences. Broadcasters such as Big Magic, Filamchi Bhojpuri, India News, Bharat Express, Movieplex Maithili, TV9 Marathi, Shemaroo Marathibana, Zee Chitra Mandir and Satsang did not participate. The pullback is particularly visible across Marathi, Bhojpuri, Maithili and spiritual programming. Industry observers point to the revised reserve prices, tighter eligibility norms and a reassessment of commercial viability as possible factors.
DD Free Dish continues to beam into over 40 million homes, largely in rural and semi urban India. For advertisers and broadcasters alike, it offers efficient access to Bharat markets where pay TV penetration remains uneven and OTT subscriptions are limited.
The moderation in revenue this year may be read as a pause rather than a retreat. Fewer slots, a reworked auction playbook and evolving broadcaster strategies have clearly shaped outcomes. Yet premium Hindi entertainment retains its pull, and the platform’s mass reach remains hard to ignore.
As the FY26–27 line-up settles in, the mix of winners and walkaways will define the private satellite channel landscape on DD Free Dish for the year ahead.
