Cable TV
MSO strike against service tax suspended
NEW DELHI: The All India Cable Operators Forum, today said it is “suspending” (not calling off) its indefinite agitation against imposition of service tax “in the interest of cable TV viewers and the ongoing Olympics at Athens.”
A convenor of the Forum, Siti Cable head Jawahar Goel said, “We are suspending our agitation in the interest of cable TV viewers as we don’t want to seen as standing between them and the telecast of the Olympics. We would continue our agitation after the Olympics.”
Another Forum member said that the “just agitation” should not come in between India’s performance in the Olympics.
The effect of the agitation, seen especially in smaller cities of North India, had resulted in people cribbing that they were unable to watch the India-South Africa hockey match, which India won 4-2, as also Maj. Rathore’s silver medal-winning performance in shooting in the Olympics.
According to Goel, the agitation’s suspension should not be viewed as a failure as it would be revived after the Olympics.
On Monday, the Forum had given a call for an indefinite nation-wide strike beginning Tuesday in protest against the imposition of 10 per cent service tax on MSOs and the cable industry, in general. The call, later, was boycotted by many independent cable ops and notably a big MSO, the Hindujas-controlled INCablenet.
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.
