Cable TV
Gujarat HC to hear LCOs petition against TRAI, govt, MSOs next week
MUMBAI: The Gujarat Cable Operators Association (GCOA) has all the reasons to rejoice. The Gujarat High Court on 30 January had given a final notice to the Union Government, the Telecom Regulatory Authority of India (TRAI) and Multi System Operators (MSOs) in the state to respond to the petition filed by the GCOA, but all the three respondents did not file their responses in the court with the deadline ending today.
“Today was the last day for the government, the TRAI and the MSOs to respond to the court’s notice, but none of them responded,” informs Gujarat Cable Operators Association president Pramod Pandya.
Pandya the court will being hearings in the case next week.
GCOA had filed a petition in the high court in September, challenging the legality of the Telecommunication (Broadcasting and Cable) Services Tariff and the Telecommunication (Broadcasting and Cable Services) Interconnection Regulations. The court had asked the three respondents to file reasons for formulating the tariff and interconnection regulations.
“We have been fighting for our fundamental rights. It is a one-sided regulation. Why is everything being taken away from me and being given to the MSO? We are not against DAS. It is a fight for our right and our ownership of the consumers. We now wait for the case to go up for hearing the next week,” concludes Pandya.
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.
