DTH
Airtel Digital TV, Dish TV merger talks on
MUMBAI: Sunil Bharti Mittal-led Bharti Airtel is not only scaling up its business in the broadband segment but is also trying to cement its presence in the DTH sector. Mittal has started talks with Dish TV to merge Airtel Digital TV with the leading DTH player.
According to a report by Economic Times, the talks are now at an exploratory stage. The report also added quoting a source that the idea is to consolidate operations for facing the Jio onslaught. If the talk reaches a positive conclusion, the combined entity will be the world’s largest TV distribution company with over 38 million subscribers along with 61 per cent DTH market share in India.
The consolidation in DTH space started with mega merger of Dish TV and Videocon d2h. Earlier, Airtel was in talks with another leading DTH player Tata Sky also but the parties could not reach any agreement.
According to TRAI data, Dish TV combined with Videocon d2h leads with a 37 per cent market share as of September 2018 followed by Tata Sky’s 27 per cent and Airtel Digital TV stood with 24 per cent.
In the third quarter, Dish TV had 23.6 million subscribers and it reported operating revenue of Rs 1,517.4 crore while Airtel Digital TV had 15 million subscribers with revenue of Rs 1,033 crore. However, Airtel Digital TV’s ARPU was higher at Rs 231 compared to Dish TV’s ARPU of Rs 200.
DTH
Den Networks reports Rs 1,227 million FY26 profit growth
Revenue crosses Rs 10,009 million as margins improve and costs ease
MUMBAI: Not all signals are on screen some are buried in the balance sheet. Den Networks has reported a steady financial performance for FY26, with profit after tax rising to Rs 1,227.53 million, reflecting improved operational discipline despite a relatively flat top line. For the year ended March 31, 2026, the company posted revenue from operations of Rs 10,009.17 million, marginally higher than Rs 9,891.45 million in FY25. Total income stood almost unchanged at Rs 12,282.10 million compared to Rs 12,279.77 million a year earlier, signalling stability rather than aggressive expansion.
The real story, however, lies beneath the surface. Total expenses declined to Rs 10,648.32 million from Rs 10,691.30 million, driven by tighter cost controls across key heads. Employee benefit expenses dropped to Rs 548.64 million from Rs 651.52 million, while depreciation and amortisation expenses also eased to Rs 652.01 million from Rs 723.06 million, indicating a leaner operational structure.
As a result, profit before tax rose to Rs 1,633.78 million from Rs 1,588.47 million, while profit after tax improved to Rs 1,227.53 million, up from Rs 1,173.96 million in the previous year. Earnings per share stood at Rs 2.57, compared to Rs 2.46 in FY25, underlining incremental shareholder value creation.
On the balance sheet front, the company’s total assets expanded to Rs 43,416.76 million from Rs 42,496.64 million, supported by a sharp rise in bank balances to Rs 30,628.71 million. Equity also strengthened to Rs 38,532.74 million, reflecting accumulated profits and a growing financial cushion.
Cash flow dynamics, however, present a more nuanced picture. While investing activities generated a net inflow of Rs 632.80 million, operating activities saw an outflow of Rs 553.50 million, largely due to tax payments and working capital adjustments. The company ended the year with cash and cash equivalents of Rs 151.70 million, up from Rs 106.11 million.
Taken together, the numbers suggest a business that is prioritising efficiency over expansion holding revenue steady while tightening costs and strengthening its balance sheet. In an industry where growth often grabs headlines, Den Networks appears to be making a quieter statement: sometimes, resilience is the real signal.
