Cable TV
MSOs miss 15 November CAF deadline
MUMBAI: Multi system operators (MSOs) have bought themselves some more time to collect duly filled consumer application forms (CAF) from cable subscribers across 38 cities falling under DAS phase II.
The earlier deadline for CAF collection was today, that is, 15 November, and consumers failing to comply would have had their transmission cut off, even after possessing set top boxes. However, as learnt from several sources in the industry, MSOs failed to meet the timeline and are now seeking further extension.
While a few MSOs including Hathway Cable & Datacom have extended the deadline to 20 November, smaller Kolkata-based MSOs say the procedure will be complete by 23 November.
It was the Telecom Regulatory Authority of India (TRAI) that had previously extended the original deadline from 20 September to 15 November. When contacted, TRAI principal advisor N Parameswaran said considering it was a national holiday today, “any decision on the final date would be taken only on 18 November.”
“The MSOs have voluntarily decided to extend the date to 20 November,” informed Maharashtra Cable Operators Federation (MCOF) president Arvind Prabhoo, adding that the regulator had asked the MSOs to send a review of DAS phase I, covering points like billing and CAF, in the interim.
Kolkata-based Manthan and Siti Cable confirmed that they have achieved 100 per cent CAF collection whereas the Cable Operators Digitalisation Committee of the Association of Cable Operators convener Swapan Chowdhury said a 100 per cent CAF was impossible to achieve in the City of Joy with so many festivities. “We have increased the deadline for duly filled CAF to 23 November,” he said.
Cable Operators Federation of India president Roop Sharma opined that CAF collection is a difficult task at hand for operators.
“Considering that the broadcasters have not yet declared the rates for the channels, it is difficult for the consumer to decide which ones they want to subscribe,” she said.
Clearly, we have not heard of the last of CAFs, phase II – as yet.
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.
