Cable TV
DAS cases put off to 23 Nov as legal processes incomplete
NEW DELHI: All legal cases related to third phase of Digital Addressable System (DAS), listed before a division bench headed by Justice G Rohini of Delhi High Court, have been adjourned to 23 November 2016.
The bench comprising Justice G Rohini and Sangita Dhingra Sehgal did not hear the various cases as it was informed that some legal processes relating to the cases had not been completed. Earlier on 18 October 2016, the division bench had taken cognisance of all cases that challenged any constitutional norms.
Justice Sanjeev Sachdeva had issued notice in September on two more petitions — filed by Om Systems of Mumbai and Digiana— related to Phase III of DAS. The cases also include an application by the Indian Broadcasting Foundation for being impleaded in the case.
Earlier, on 26 September 2016, the division bench of Chief Justice G Rohini and Justice Sangita Dhingra Sehgal had held that two matters, filed by Indusind Media & Communication Ltd and Bhima Riddhi Digital Services, were challenging the constitutional validity of certain provisions of Maharashtra Entertainment Duty Act, 1923 as amended by Maharashtra Entertainment Duty (Amendment and Continuance) Act, 2014 and not the validity of the Telecommunication (Broadcasting and Cable Services) Interconnection (Digital Addressable Cable Television Systems) Regulations 2012.
The Supreme Court had on 1 April 2016 this year accepted the plea of the Central Government that “it would be just and proper” to transfer to Delhi High Court all cases pending in different High Courts, many of which had given injunction orders.
A total of 62 cases had been filed by some multi-system operators (MSOs) in various courts in the country for extension in the deadline of Phase lll. Out of these 62 cases, 12 cases had been disposed of by respective courts and three cases had been withdrawn by the petitioners.
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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.
