Cable TV
Chrome DM report on ‘Cable Dark’ areas
MUMBAI: The transition from analogue to digital in Phase 3 (all urban areas excluding those that were part of Phase 1 and 2 – municipal corporations/municipalities) has caused certain areas of the country to become ‘cable dark’.
There are several factors that need to be taken into consideration when understanding why certain states are witnessing a higher amount of cable dark penetration than others. In Uttar Pradesh for example, the majority of cities use DTH, and due to the lack of a dominant MSO, cable penetration is low in this state.
Gujarat and Punjab are experiencing a more structured approach because they have a dominant player (GTPL and Fastway, respectively). On the other hand, a state such as Maharashtra does not have one defined player; but at the same time has been facing a shortage of set-top boxes – from where the stay has stemmed.
Similarly, governments in the south support cable operators, so in Andhra Pradesh, cable still exists and despite the digitization mandate, cities still receive analog feeds; Tamil Nadu witnesses penetration of Arasu in most cities, but digitization boxes have not reached these areas either. ‘
Alongside this, the size of the state also needs to be taken into account: Mizoram’s cable dark city is one which has a large population, thus resulting in more than half the population beingcable dark.
Another hurdle that cable dark cities face is the fact that cable operators in some dark areas make cable available to consumers during prime timehours, to cater to a TV starved audience, Chrome Data Analytics& Media’s on-ground coverage reports.
It is essential to understand that there is no fixed or systematic pattern according to which cable is out and different states are facing different factors.The state-wise percentage of cable dark population can be seen in the table below:
“Each time a transition takes place, some kind of ‘switch off’ is inevitable – be it an electric transformer replacement in your colony or a human operation. We need to remember that digitization was mooted, in the first place, to address four major broadcasting issues – taxation, transparency, choice for consumers and the quality of content. So dark outs, irrespective of the reason, should be taken as the minor issue they are when compared to the greater good digitization promises for Indian broadcasting”, says Chrome Data Analytics & Media founder and CEO Pankaj Krishna.
Overall, digitization has brought with it several hurdles that all states must collectively overcome. One must collaboratively focus on the larger picture and be patient to reap the benefits of digitization in the long run.
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.
