Cable TV
Delphis to take HDTV doc ‘Black Coffee’ to Mip TV
MUMBAI: Delphis Films (formerly FRV Media International) has announced that it is offering Black Coffee, a new $2 million HDTV three-hour documentary on the social and cultural history of coffee.
It will make this documentary available for buyers at the international television event MipTV in April.
Delphis Films has the worldwide distribution rights to this bitter-sweet look at the coffee bean and its dominant force in shaping the economic and social structures of entire nations.
Delphis Films VP distribution Xiaojuan Zhou says, “Coffee represents the second-most-traded legal commodity in the world, after oil. The project took five years from its concept to completion. Shot in HD in 10 countries by an award-winning crew, Black Coffee has a strong universal appeal. Black Coffee premiered on TVO in Canada to record numbers and rave reviews. We are delighted to be offering it .”
Black Coffee provides a portrait of the brew that was instrumental in promoting romance or revolution. The series also sheds light on a human rights and ecological record that remains tenuous at best, and links the morning ritual to the rise in café culture as well as the Fair Trade movement¹s efforts to guarantee small growers a decent price.
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.
