Cable TV
MSOs in Kolkata request viewers to act as per guidelines
KOLKATA: It was early this year that the multi-system operators (MSOs) in Kolkata introduced the gross billing system. And since, through numerous advertisements and hoardings, they have informed cable television viewers in the Kolkata Municipal (KM) area about this.
However, seems like the viewers have still not come to terms with the fact that they have to pay as per the gross billing and not at their own will.
Cable TV sources point out that there is no difference at the ground level. “Customers don’t want bills and that is the reason why local cable operators (LCOs)are not handing out receipts,” says a city-based MSO who adds that the LCOs get the bills without delay.
However, with LCOs demand of a fee of Rs 5 from customers is hampering the process as well. The LCOs say that it requires money and manpower to distribute the bills and hence, the extra charge. “The LCOs are asking the customers if they need a bill and if so then the customers would have to pay Rs 5 extra,” says a MSO. “So they are not distributing bills using this as a reason,” he adds.
Kolkata has around 30 lakh cable homes and since mid-January the MSOs have started issuing ad-hoc bills.
“The MSOs are billing the full amount of package but in reality are getting much lesser in return. This problem needs to be solved at the earliest,” says another MSO.
Advertisements like ‘Collect your monthly bill from cable operator’, ‘Enjoy Your Selected Package’ have been doing the rounds for some time now.
The industry believes that to implement the gross (consumer) billing and bring transparency in the process, the MSOs will have to meet regularly. “Billing is a mess as LCOs are not willing to collect it and consumers are not willing to pay,” says a city-based cable 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.
