Cable TV
Cable TV lobby slams TRAI’s DTH licence fee waiver call
NEW DELHI – India’s top cable lobby has sounded the alarm over TRAI’s proposal to slash and eventually scrap licence fees for Direct-to-Home (DTH) operators, warning it could wreck the delicate balance in the country’s broadcast distribution ecosystem.
In a strongly-worded representation to the information and broadcasting ministry, the All India Digital Cable Federation (AIDCF) – which represents over 880 multi-system operators (MSOs) and 1.6 lakh local cable operators (LCOs) – said the move would “deepen regulatory inequality” and “threaten over 10 lakh livelihoods” linked to the cable TV industry.
The AIDCF accused TRAI of tilting the scales in favour of DTH players who already enjoy “cost-free, administratively allocated spectrum” while cable operators continue to bleed under high Right of Way (RoW) charges and hefty underground infrastructure investments.
“A DTH licence fee waiver will distort competition and violate regulatory neutrality,” an AIDCF spokesperson said, adding that any cut would hasten subscriber churn from cable to satellite platforms. The body flagged other disruptors like Free Dish, OTTs, Fast TV and digital DPOs as further stress points for the struggling cable sector.
Rather than easing licence costs for satellite platforms, AIDCF wants the government to implement a fair cost recovery mechanism across distribution platforms, reflecting the true commercial value of spectrum. It has urged the ministry to junk TRAI’s recommendation in favour of a level playing field that safeguards the sector’s long-term viability.
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.
