Cable TV
India cricket: Pehla-Ten Sports bag Mideast territory
MUMBAI: The Pehla broadcast platform and Dubai-based Ten Sports have secured India cricket telecast rights for the Middle East region from Nimbus Sports for approximately $ 8-9 million.
The deal has been done in principle and Ten Sports began airing the matches from Day 3 of the just-concluded Nagpur Test.
According to a statement issued by Pehla, despite the huge cost of acquisition incurred by the Pehla-Ten Sports combine, the effect on the viewers has been kept to a minimum.
As a direct result of this, the subscription rates for all packages showcasing cricket, including Pehla Silver and Gold, e-Pehla Silver and Gold, FirstNet Sports and Gold and e-FirstNet Sports and Gold packages have been increased by Dh 4.
Ten Sports vice president programming Peter Hutton was quoted in a media report as saying, “We have always been very determined in our efforts in bringing top-class live cricket and other international sporting events to the viewers in the region. Perhaps it is this determination that has helped tilt the balance in favour of the Pehla-Ten Sports combine.”
Hutton added that since Nimbus had to pay an astronomical amount to get the rights from BCCI, the television channels were expected to pay an equally high amount to obtain the rights from Nimbus.
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.
