Cable TV
INCableNet disputes Zee charge of large outstandings
MUMBAI: Responding to yesterday’s disconnection by the Zee Turner alliance, Hinduja Group MSO INCableNet has disputed the reasons given for the switch-off. Zee had cited large outstandings of over three months as the reason for disconnection but INCableNet claims “the amounts are well within the normal credit limits given to us.”
According to an INCableNet release, Zee Turner CEO Sunil Khanna postponed a meeting late last night to finalise CAS agreements, subsequent to which Zee started disconnecting channels one-by-one, beginning with Alpha Marathi and Alpha Gujarati. Thereafter all the bouquet channels were disconnected “without any dialogue”.
As was the case when it was switched off by the SET-Discovery One Alliance, INCableNet has cited the imminent rollout of CAS as its reason for not signing on to any new agreements. INCableNet asserts that the disconnections are part of a larger plan by broadcasters to derail CAS and force another round of arbitrary price hikes. The release claims that broadcasters have formed a cartel “to implement a forced price hike under the guise of non-payment and non-execution of new agreement.”
Also read:
Zee Turner bouquet switched off InCableNet in Mumbai
One Alliance switches off InCablenet over pending dues
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.
