Cable TV
106 MSOs registered says Javadekar; Arasu application under review
MUMBAI: The government is doing well in the area of registering multi system operators (MSOs), especially in those areas where digitization has been implemented. This was stated by information & broadcasting minister Prakash Javadekar in a written reply in th Rajya Sabha. He revealed that 106 MSOs have have been granted permanent registrations by his ministry to enable them to operate in digital addressable system (DAS) zones.
He added that the I&B ministry had received a letter from the Tamil Nadu chief minister J Jayalalithaa to also register the government run MSO the Tamil Nadu Arasu Cable TV Corp Ltd to allow it to operate in the DAS notified areas of the southern state.
He disclosed that his ministry was examining Arasu’s application in the light of the TRAI’s recommendations regarding the entry of government entities in the broadcasting and distribution activities.
The TRAI has been consistent in its stand that state government entities should not be allowed to enter the business of broadcasting and distribution of TV channels. It had made these recommendations in its paper on Issues related to entry of certain entities into Broadcasting and Distribution Activities in December 2012, and reiterated them in its consultation paper on monopoly/market dominance in cable TV in June 2013.
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.
