Cable TV
Jayalalitha again seeks DAS licence for state-run Arasu
NEW DELHI: After she failed to convince him through a memorandum presented last month, Tamil Nadu Chief Minister J Jayalalithaa has now written to the Prime Minister Narendra Modi to intervene to secure Digital Addressable System (DAS) licence for the state run TV Cable Corporation.
The application has been pending with the state for three years but has not been cleared in view of the opinion by the Telecom Regulatory Authority of India (TRAI) that political party, state and centre-run TV channels or TV distribution networks should not be permitted in the country.
The Regulator had given this opinion in 2008 and then reiterated it earlier this year after the Information and Broadcasting Ministry referred the matter to it for a second time.
In her letter to Modi, Jayalalithaa said the previous United Progressive Alliance regime sanctioned licenses to nine Multi System Operators in Tamil Nadu but did not respond to the state’s plea. She claimed that her government had revived the ‘defunct’ Tamil Nadu Arasu Cable TV Corporation (TACTV), a state run TV Cable Corporation, after coming to power in 2011 to adhere to its commitment to provide inexpensive and quality Cable TV services.
TACTV, an initiative of the previous DMK government at the height of family feud in the party’s first family involving M Karunanidhi and his grandnephews, Maran brothers, was however later put in cold storage after they patched up.
TACTV was providing 100 channels for Rs 70 as against the Rs 150-250 charged by some other MSOs, she said in the letter. After the Cable Television Networks (Regulation) Act, 1995 was amended, paving way for DAS, TACTV took steps to commence operations in the digital mode in Chennai and applied to the Ministry for DAS license.
Orders were also placed for the supply of Set Top Boxes, Conditional Access System and Subscriber Management System and installing of a headend at a cost of about Rs 50 crore, she told Modi.
Jayalalithaa in her letter has asserted that as per the provisions of the Cable TV Network (Regulations) Act, 1995, and Rules thereof, TACTV is qualified for such a licence. She also alleged that she strongly suspects that the non-issuance of license by the previous UPA government was only to facilitate particular private business interests.
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.
