Cable TV
LMOs unite to form pan-India platform
MUMBAI: The last mile owners (LMOs) will no longer be a fragmented body. This arm of the cable TV chain has decided to finally form a pan-India platform. The move comes after the national multi-system operators (MSO) formed the MSO Alliance, the direct to home (DTH) players got together to form DTH Operators Association of India and the broadcasters formed the Indian Broadcasting Foundation (IBF).
No formal name has still been shortlisted; however, it will be during the upcoming cable TV exhibition in Hyderabad that the LMO association from across the country will meet to decide the name and the board members of the pan-India platform.
The name would be kept under wraps until the body gets a confirmation from society registrar.
Currently, six state cable TV associations from West Bengal, Maharashtra, Andhra Pradesh, Karnataka, Gujarat and Madhya Pradesh have come together to be a part of this pan-India platform. More state associations are expected to join the platform in the upcoming exhibition, which will be attended by LMO associations from Kerala, Tamil Nadu, Karnataka and Maharashtra amongst others.
“LMOs at the grass root level have never been taken into consideration. A pan-India platform will give us proper representation and power. It will also help us take our views to the government,” says Maharashtra Cable Operators Federation (MCOF) president Arvind Prabhoo.
“It is in Hyderabad that we will decide on the functional constitution body of this platform,” he adds.
So why come up with this association now? Answers Prabhoo, “We learn from our mistakes. In the past 20 years we have never had one voice. While even the domestic servants have an association, LMOs have never had a strong pan-India association, but individual voices. With digitisation, operators have understood what is in store for them, and so also understood that an united voice was much 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.
