Cable TV
After Manthan, SitiCable tries to poach DTH customers
KOLKATA: Sometime back, city-headquartered Manthan Broadband Services announced a scheme to poach Dish TV customers after the DTH provider created sub-brand ‘Zing’ to offer STBs free of cost and target regional markets.
Now, SitiCable Network is all set to follow in Manthan’s footsteps with an exchange scheme for DTH customers so they can opt for SitiCable services without having to pay anything for STBs as well as their installation in DAS I and II areas.
According to Kolkata director Suresh Sethiya, the scheme called ‘Value for Money’ will be launched next month. Sethiya further informed that SitiCable is aiming to install another 3 lakh STBs in West Bengal by the end of April. “Customers choosing SitiCable services instead of their DTH service providers will also have the option of going for channel packages that regular customers get and this is a value for money proposition for them,” he added.
How will SitiCable gain through the scheme? “Well, the scheme is to increase our market presence and not to increase our topline or bottomline. We want to be market leaders. And once we are able to convert DTH customers to our customers, we will think of monetizing it,” answered Sethiya.
On the installation of an additional 3 lakh STBs, he said that the company was eager to increase its penetration in the state as cable TV digitisation was in full swing across the eastern region. “We would always try to retain its number one position here,” he said. “We are upbeat about our penetration and growth in West Bengal. In North Bengal too, we are looking at some acquisition and forming a joint venture with local partners.”
While West Bengal is one of the most important markets for SitiCable in the eastern region, the company also has a good presence in Patna, Odisha and Jharkhand. A cable analyst said on the condition of anonymity, “The eastern region accounts for around 40 per cent of the revenue to SitiCable and is one of the most important markets for the company.”
The company is also present in six out of the seven north-eastern states. Commenting on Manthan’s scheme and now SitiCable, the cable analyst said, “In the coming months, we expect more such announcements by players of different categories to poach each others’ business and clients.”
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.
