Cable TV
MSO number touches 900 including 671 provisional
NEW DELHI: Even as the total number of multi-system operators has risen to 900 including 671 getting provisional licences, the government has cancelled the permanent licence of one more MSO and the number of permanent licencees (up to ten years) has fallen by one to 229 as on 2 June. Thus, the number of MSOs has risen by 60 since 29 April when it was 840.
The permanent licence issued to Kable First Davangere Pvt. Ltd. in December last has been canceled as it has surrendered its licence to the Information and Broadcasting ministry.
In mid-May, Star Broadband Services (India) Pvt. Ltd, which earlier had a permanent licence for distributing signals in Delhi, had been shifted to the provisional category when it applied for pan India distribution. Tanuku Communication Networks of Andhra Pradesh was also moved from permanent to provisional category.
In the case of God father Communication Pvt. Ltd. of Amritsar, the cancellation of its licence was stayed in July 2014 by the Punjab and Haryana High Court. Similarly, the cancellation of Intermedia Cable Communication Pvt. Ltd. had been stayed by Delhi High Court in December 2013.
The Information and Broadcasting ministry had cancelled the licences of 27 MSOs and closed their cases by 2 June. In most of the other cases in the list of cancelled registrations, it is because of failure to get security clearance from the Home ministry. However, there are cases of many MSOs holding provisional licences not completing certain formalities relating to shareholders and so on.
According to the latest list, the area of operation of one MSO has been revised after 24 May. In the week following that, only one MSO, Altimeric Digital Pvt Ltd of Odsisha, has been given pan-India licences. The new registrations include the states of, or specific districts in, Uttar Pradesh, Haryana, Tamil Nadu, Uttarakhand, Rajasthan, Madhya Pradesh, Telangana, Gujarat, Karnataka, Chhatisgarh, and Andhra Pradesh.
With the Home ministry directive about doing away with security clearances for MSOs not being communicated in writing to the MIB, the pace remains slow.
The permanent licence issued to Kal Cable of Chennai had been cancelled on 20 August 2014, but this cancellation was set aside by Madras High Court on 5 September the same year. However, Kal Cable’s name continues to be in the cancelled list – presumably because the cases are still pending.
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.
