DTH
HGS shines bright as Nxtdigital and One bag top honours at BCS Ratna 2025
MUMBAI: When it rains, it pours and for Hinduja Global Solutions (HGS), the shower has been of accolades. Its media and broadband arms, Nxtdigital and Oneott International LTD. (OIL), have walked away with top honours at the 11th BCS Ratna Awards 2025, one of India’s most coveted forums celebrating media and entertainment excellence.
Nxtdigital, HGS’ digital content distribution platform, snagged the ‘Most Innovative Technology Provider’ trophy. At the heart of its win is the Nxthub model, a first-of-its-kind framework that has reimagined last-mile delivery. From India’s only Headend-in-the-Sky (HITS) platform to broadband and OTT, Nxtdigital has stitched it all into one integrated ecosystem. The result? Satellite-powered digital connectivity that now stretches across 4,500 pin codes, powering Tier 2, Tier 3 and rural India with digital TV and high-speed broadband.
Meanwhile, One Broadband among India’s top internet service providers was named ‘Best ISP Delivering in Rural India’. Its formula is deceptively simple yet deeply effective: aggregating local cable operators and last-mile owners through its Strategic Alliance Partner (SAP) model. This has enabled the brand “One” to deliver not just broadband, but OTT-ready services and AI-enabled customer support into homes and businesses beyond the metros.
“This recognition is more than a feather in our cap, it’s a responsibility,” said Nxtdigital media businesses CEO and HGS whole-time director Vynsley Fernandes. “It reaffirms our mission to build platforms that simplify access, scale with ease, and solve real-world challenges through innovation.”
For HGS, the wins come as it doubles down on customer-first strategies and scalable tech investments, bolstering its footprint across both bustling cities and underserved villages. At BCS Ratna 2025, the message was clear: whether beaming via satellite or streaming via fibre, HGS is scripting a connectivity story that’s as inclusive as it is innovative.
DTH
SITI Networks reports Rs 435.69 million loss amid insolvency process
Mounting losses and legal challenges continue to weigh on operations
MUMBAI: SITI Networks Limited, currently undergoing a Corporate Insolvency Resolution Process (CIRP), has reported its un-audited financial results for the quarter and half-year ended 30 September 2025. The company’s financial position remains under significant pressure, with ongoing losses and uncertainty around its ability to continue as a going concern.
The company reported a consolidated net loss of Rs 435.69 million for the September 2025 quarter, taking its accumulated losses to Rs 29,388.36 million. Its net worth stands at a negative Rs 12,445.09 million, while current liabilities exceed assets by Rs 16,861.18 million, raising serious concerns about financial sustainability.
For the half-year period, consolidated revenue from operations declined to Rs 5,667.78 million from Rs 6,108.28 million in the corresponding period last year. Total current liabilities rose to Rs 24,796.07 million, driven largely by trade payables of Rs 11,030.22 million and borrowings of Rs 7,573.85 million.
The Resolution Professional has admitted financial creditor claims of Rs 11,292.66 million, along with operational and employee claims amounting to Rs 7,066.86 million. Meanwhile, statutory auditors have issued a “Disclaimer of Opinion,” citing lack of access to key information, including minutes of Committee of Creditors (CoC) meetings due to confidentiality constraints.
A dispute also continues over Rs 1,230 million appropriated by lenders from the company’s bank accounts during a “stay period.” The National Company Law Appellate Tribunal (NCLAT) has directed that this amount be held in a separate interest-bearing account until the matter is resolved.
Operationally, pay channel costs for the half-year stood at Rs 3,754.03 million. The company noted that if these costs were reported on a net basis, both revenue and expenses would appear lower, though there would be no impact on the net loss.
Additionally, Siti Jind Digital Media Communications ceased to be a subsidiary in October 2025 following approval of a resolution plan. SITI Networks’ future now depends on the successful implementation of its own resolution plan as it continues through the insolvency process.
