Cable TV
30 MSOs got provisional licences in Oct, taking total to 1033
NEW DELHI: With 30 more multi-system operators (MSOs) getting provisional registration in October, the total has risen to 1033 with just around seven weeks to go for switching off analogue signals and completion of digital addressable system for cable television around the country.
While the total of provisional licences as on 31 October went up from 774 to 804, the number of permanent licences (10 years) remained static at 229.
The Information and Broadcasting Ministry today released the list of 42 MSOs – as against 29 MSOs at the end of September — licences of which had been cancelled and cases closed. In addition, there are four cases — Godfather Communication Pvt. Ltd of Amritsar, Kal Cables Pvt Ltd of Chennai, Digi Cable Network (India) Pvt Ltd of Mumbai, and Intermedia Cable Communication Pvt. Ltd of Delhi — in which high courts stayed the cancellation orders in petitions filed by these MSOs.
The number of cancellations or cases closed has gone up by 15 since 2 June this year. Most of the other cases in the list of cancelled registrations had failed to get security clearance from the home ministry. However, there are cases of many MSOs holding provisional licences not completing certain formalities relating to shareholders and so on.
According to the latest list up to 31 October 2016, the areas of operation of four MSOs (two each in the permanent and provisional list) have been revised or corrected after 30 September 2016. Of the new licencees, two — Enyes Network Communication Private Ltd of Tamil Nadu and Satcom Satellite Network of Mumbai – have got pan-India licences.
The other new registrations after September 2016 include the states of, or specific districts in, Uttar Pradesh, Haryana, Maharashtra, Tamil Nadu, Uttarakhand, Gujarat, Karnataka, and Punjab.
With the home ministry directive about doing away with security clearances for MSOs not being communicated in writing to the MIB, the pace remains slow.
The permanent licence issued to Kal Cable of Chennai had been cancelled on 20 August 2014, but this cancellation was set aside by Madras High Court on 5 September the same year. However, Kal Cable’s name continues to be in the cancelled list – presumably because the cases are still pending.
In the last meeting of the DAS Task Force, it was revealed that though there were a reported 6000 MSOs in the country but only a handful of them had come forward to register.
Also read: MSOs finally cross 1000 as pan-India DAS deadline nears
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.
