Cable TV
Manthan Broadband eyes customers in DAS phases I and II with lucrative deals
KOLKATA: The ongoing Cable TV Show 2014 in Kolkata became a platform for the Kolkata-headquartered cable TV multi-system operator (MSO) Manthan Broadband to make few lucrative deals to consumers. The show at the Netaji Indoor Stadium has witnessed an amazing response in the first two days and thus Manthan took an opportunity to woo the direct-to-home customers as it announced that any customer from the Digital Addressable System (DAS) phases I and II if switches to Manthan, he won’t have to pay anything for the set top boxes (STBs) and the installation charges.
However, few terms and conditions apply as the customers will have to opt for the ‘Super Sunday Pack’ at Rs 320 per month. “As a fair offer, we have informed to all our affiliated local cable operators (LCOs) that customers will just have to pay five months subscription fees and can enjoy the Manthan cable services for six months,” said Manthan Broadband Services director Sudip Ghosh also adding that the offer is mainly aimed at high-end customers. “With this offer, a customer can save around Rs 1500 as of now,” he said.
According to Ghosh, by the end of May, the MSO is aiming to poach around 50,000 connections. It is present in Kolkata, Howrah and Ranchi with around 7.5 lakh STBs in DAS I and II.
Interestingly, cable TV analysts think that the region is going to witness such offers from more players in the region despite of DTH penetration being low in the region. The DTH connections in the region has just crossed the 5 lakh mark.
“Last week Dish TV created a sub brand Zing to target regional markets and the STB offer was at a lower price. And now cable TV industry players like Manthan waging a war on DTH players. More such announcement by different players can be expected to poach others’ customers,” said an analyst.
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.
