Cable TV
Hinduja’s NXT Digital enters Fastway-dominated Punjab
MUMBAI: It was announced with much fanfare, which simmered down. Now the Hinduja group promoted HITS platform NXT Digital has once again started making news. The group has stated that it is going to be pushing its headend in the sky (HITS) service in Punjab and Chandigarh.
NXT Digital allows local cable operators to upgrade to digital cable TV serices at a mimimal expense. Speaking to the media Hinduja Media Group CEO Ashok Mansukhani on Friday said: “We have the state-of-the-art technology for digital TV viewing and our network in Punjab would ensure the viewers get uninterrupted world-class viewing experience at economical price in the market.”
The entry of NXT Digital into Punjab will bring it head to head competition with Rs 500 crore turnover Fastway which has 2.45 million subscribers in Punjab, out of a national total of 4.2 million, of which 3.2 million are active. The other states in which Fastway has a presence is in Uttar Pradesh, Himachal Pradesh, Jammu&Kashmir, Rajasthan, Uttarakhand and Haryana.
Speaking to Hindustan Times, Hinduja Media Group senior vice president Narinderpal Singh, claimed that NXT Digital has the active co-operation of the Congress state government which would welcome the existing and new cable operators to join them.
Fastway, on the other hand, allegedly was closely linked to the previous Punjab government under the Shiromani Akali Dal (SAD) president Sukhbir Singh Badal.
But that monopoly has been getting marginally eroded.
Fastway MD Gurdeep Singh had acknowledged in an earlier media interview that the MSO has 5,290 cable operators (as compated to 6,500 cable operators from a total of 8,000 earlier) associated with it in Punjab and 159 in Chandigarh.
“Some of the earlier ones have merged with others or gone to another multi-system operator, Hinduja Cable, which is a new player in Punjab. Then, some cable operators are aligned with other groups such as Bhullar Cable in Amritsar,” he had said.
Will that marginal erosion becoming a landslide? For that, watch this space.
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.
