Cable TV
Hinduja Ventures Ltd announces reorganisation of its media & communications business
MUMBAI: The Board of Directors of Hinduja Ventures Limited ("HVL") at its meeting held today have accorded In-Principle approval for reorganization of Media and Communications undertaking of Induslnd Media & Communications Limited ("IMCL"), into HVL subject to all statutory/ regulatory approvals and approval of the shareholders.
The media business of IMCL consists of digital content distribution business carried out through multiple platforms including satellite and fibre and also the Broadband business carried out through its subsidiary.
IMCL – A handsome turnaround
IMCL, the only integrated digital platform operator ("DPO") in the country, with delivery via digital cable, satellite ("HITS" or Headend-ln-The-Sky) and fibre; has seen a handsome turnaround in the quarter due to the successful implementation of the New Tariff Order by the Company from February
2019 till date and holds very good promise for improved operating results going forward. The
Company also benefitted from successfully converting its customer base to a fully prepaid model.
"IMCL has posted a positive Operating profit and positive Profit after tax for the first quarter of the current year. We expect this positive trend to continue, buoyed by cutting-edge technology that will spawn a series of innovative products and solutions, a robust inclusive model with all our cable operator partners and a customer-centric approach"says Vynsley Fernandes, Chief Executive Officer, IMCL.
The successful implementation of the New Tariff Order by IMCL; while simultaneously ensuring that there is least disruption to customer service has been very well recognized by the industry and all stakeholders. In appreciation of this, IMCL has won two prestigious awards at the Annual BCS Ratna Awards- "Best NTO implementation by a DPO" and "Best LCO and Consumer management services."
Highlights of IMCL:
IMCL has many firsts to its credit. Some of these are listed below:
• Only MSOJDigital Platform Operator (DPO) to operate in all the states and union territories of the country.
• HITS satellite services connected to 1,500+ physical points-of-presence in India – covering
2,000+ pin codes across the country.
• Only DPO to have a dual digital delivery platform – Digital caple through fibre and HITS
through satellite.
• First DPO to introduce the prepaid collecQon model- 99.5% of the customer base on prepaid
• The Company has:
o Introduced multiple types of Set Top Boxes (STBs) ranging from low-cost Standard Definition (SD) STBs to Hybrid High Definition (HD) STBs, that allow conversion of any TV set into a "Smart" TV.
o Introduced VAS services channels – branded "NXT Services" across multiple genres and for all age groups – a bouquet which is very popular among consumers
o Became the provider of most number of channels across DPOs – offering 730+ TV
channels in key cities and 700+ TV channels via satellite on the HITS platform.
o Introduced the "Managed Services" Model whereby small MSOs and LCOs are able to operate profitably by using the infrastructure of IMCL on an opex model. IMCL has already signed up half a million subscribers on this model -only DPO providing this service as of now
o Successfully transitioned to the New Tariff order
o Is the DPO with the highest number of packages for customers to choose from in the NTO regime – 800+ packages; including specially curated packages in 11languages.
This reorganization is in line with the growth plans of IMCL – as a leading player in the digital space;
and is expected to be value accretive to all stakeholders.
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.
