Cable TV
Cable fraternity lays it on thick in Thackerays’ honour
MUMBAI: “We cable operators are like mice and Balasaheb is our Ganesha.”
This was just one of the more sycophantic lines thrown up in a fawning demonstration of gratitude to Shiv Sena chief Balasaheb Thackeray and his son Uddhav Thackeray at the CODA (Cable Operator and Distributor Association) meeting held at the Rang Sharda auditorium located in Bandra (Mumbai suburb) today.
Sena working president Uddhav Thackeray received mementoes from CODA functionaries and members such as Seven Star network’s Nadir Ali and Raja, Sai Cable representatives, Sonali Cable’s Suvarn Amonkar, others such as distributor Ganesh Naidu. The attractively designed mementoes included Ganesha idols and a dish shaped memento as well as a ship.
In fact, all the Sena officials in their speeches referred to these mementoes that were symbolic. For instance Sena functionary and cable operator Pradeep Chitre said: “We cable operators like mice and Balasaheb is our Ganesha.”
Sena leader Subhash Desai said: “Balasaheb is our vignaharta (like Lord Ganesha who removes obstacles from the path) and sukhhartha (like Lord Ganesha who has given us happiness and peace). He also said that Balasaheb will ferry the cable operator’s boat across rough waters.”
CODA had ensured that all the necessary arrangements were made to give a warm welcome to top Sena leaders. The roads leading to the venue had orange flags. Specially dressed in Peshwa (Maratha kings) style attires, musicians played the tutari (a musical instrument of the Peshwa age) and greeted Uddhav Thackeray when he arrived.
CODA asked Uddhav Thackeray to garland a bust of Peshwa king Shivaji Raje and a photograph of the late Meenatai Thackeray (Balasaheb’s wife).
When asked about this ‘almost sychophantic” approach, a CODA official later said: “And why not, the Sena is the only political party to support the last mile operators when no one else did – not even the ruling NCP-Congress alliance government.”
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.
