Cable TV
Kolkata’s cable TV customers feel CAF heat as blackouts spread
KOLKATA: Kolkata is seeing some frenetic activity on the cable TV front. The city’s multisystem operators (MSO) have started switching off signals in several pockets in Kolkata where cable operators have failed to comply with the Telecom Regulatory Authority of India (TRAI) norms and not provided them with the KYC or CAF forms of their subscribers. But MSOs have also been prompt in bringing the disconnected customers back online once the CAFs are submitted and fed into their systems.
Apparently, the consensus amongst the cable TV fratenity is that cable TV subscribers are understanding the gravity of the situation with their cable TV connections being cut. And they have been a hurry to submit their CAFs now. “About 30,000 boxes had been deactivated and then reactivated after we received filled out forms from them,” said Manthan director Sudeep Ghosh.
“We are in touch with the MSOs and we have been told that nearly two lakh set top boxes have been deactivated across the city and about 1.3 lakh boxes have been downgraded to DD channels only,” says a TRAI official.”And this is working as all the MSOs are saying that they are being flooded with CAFs as compared to earlier when there was lethargy.”
The phase-wise deactivation of set top boxes had proved to be effective in sending out the intended message to consumers, he said.
Consumers are confused and are complaining that there had been no intimation to them about the forms.
A DTH service provider said that its call centres are receiving extra call loads with cable TV subscribers enquiring about the options available to them. “Our callers have expressed that it is better to settle with the seamless connection instead of haggling with the cable operator, who is ill-informed and not up to date with what is expected to be done,” says the DTH executive.
We will have to simply keep our eyes glued to see if those callers will migrate to DTH. Going by past track records in other cities in phase I and phase II, it probably does not seem likely. Though many have expressed that a paradigm shift is needed.
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.
