Cable TV
GTPL Hathway signs grant of permission agreement with MIB for HITS
MUMBAI: In a bold move, GTPL Hathway is preparing to colonise India’s broadcast wilderness. The Reliance Industries-owned cable TV and broadband maverick secured ministry of information & broadcasting (MIB) approval in July 2024 to launch its Headend-In-The-Sky (HITS) project, with Rs 100 crore earmarked to execute it, subject to it being able to fulfill the laid-down guidelines.
Having met them successfully, the company inked a grant of permission agreement (GOPA) with the ministry on 27 March, securing a decade-long broadcast channel distribution mandate. The nerve centre? Ahmedabad for what could be a nationwide entertainment revolution. The company informed the Bombay stock exchange about the development through a regulatory filing.
Piyush Pankaj, the company’s chief strategy officer, had revealed during an analysts’ call in January 2025 that the project was 80 per cent complete. The idea was to target satellite-dark regions, particularly the infrastructure-starved northern territories through the HITS service..
The strategic thrust: by marrying cable TV and DTH technologies, GTPL aims to beam entertainment into the digital hinterlands where traditional infrastructure fears to lay its cables. It is believed that GTPL has leased twelve Telkomsat C-band transponders to broadcast the company’s digital dreams.
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.
