Cable TV
DEN Networks exits TV home shopping channel business
MUMBAI: It’s focusing on its core competence: cable TV distribution and broadband. Three years after it announced its intention to get into TV home shopping, the Samir Manchanda-promoted multi systems operator Den Networks Ltd is now exiting from it.
The company had launched a channel called DEN Snapdeal Home Shop in 2016 (in partnership with the ecommerce site) only to have its partner exit from it in March 2017.
DEN Networks has now signed a deal with Noida-based Vijender Singh promoted Pimex Broadcast under which the latter will be acquiring 100 per cent of Macro Commerce – the company which runs the home shopping channel. Singh is also one of the directors of Pantel Technologies which manufacture telephones, mobile handsets, and tablets and computers.
Pimex will take over all the existing liabilities and dues of Macro and both together aspire to be one of the significant players in the TV shopping business, says the DEN Networks press statement to the Bombay stock exchange (BSE). The name of DEN and Snap deal will be dropped off from the branding.
DEN has already made provisions for its investment in Macro in its books of accounts in the previous financial year and hence, there will not be any further impact in the profit and loss account, points out the company’s statement to the BSE.
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.
