Cable TV
IMCL sees 11% revenue growth in FY19
MUMBAI: IndusInd Media & Communications Ltd (IMCL) is hoping to achieve a positive profit after tax for the financial year 2019-20. In FY 2019, the company’s subscription revenue grew by 11 per cent and subscriber base by 10 per cent over FY 2018.
Hinduja Venture Chairman Ashok P Hinduja commented in its annual report 2018-19, “IMCL along with its subsidiary companies has an active subscriber base of 5.1 million. This is expected to grow substantially in the coming years. With all these positive developments, IMCL is expected to return a positive profit after tax in the years ahead.”
During the year gone by in 2018-19, the NXT Digital and IN Digital – distribution platforms of IMCL have taken giant strides not only in terms of the subscriber base but also in terms of its subscription revenue.
Sharing his view on the TRAI new tariff order, Hinduja said, “Mandating a minimum assured distribution fee to the distribution platforms like IMCL from the broadcasters, NTO brings in a new regime that largely benefits digital platform operators (DPO) like IMCL to retain an operating margin as against the previous model wherein IMCL was effectively subsidising the broadcaster costs to the consumers.”
He further said that the successful implementation of the new tariff order by IMCL while simultaneously ensuring that there is least disruption to customer service has been very well recognised by the industry and all its stakeholders.
During the year 2018-19, the company introduced hybrid high definition set top boxes in the market for the first time. It also introduced VAS services channels – branded “NXT Services” across multiple genres and for all age groups – a bouquet which is very popular among consumers.
IMCL has already signed up half a million subscribers on managed services model whereby small DPOs can operate profitably by using the infrastructure of IMCL on an opex model.
During the year under review, IMCL posted a positive operating profit in the last quarter of the year. The company also informed that it has achieved a collection to billing ratio at 99.5 per cent which is highest in the industry.
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.
