Cable TV
MSOs Sun & Prabhu Cable resolve dispute on allegations of piracy
NEW DELHI: Sun Distribution Services Pvt Ltd has informed the Telecom Disputes Settlement and Arbitration Tribunal (TDSAT) that it will not take any steps against Prabhu Cable Network on allegations of piracy.
Both multi system operators (MSOs) also informed the Tribunal that they had agreed to treat the provisional interconnect agreement agreed into at the instance of the Tribunal as a final agreement.
TDSAT chairman Justice Aftab Alam and members Kuldip Singh and B B Srivastava accordingly treated the petition by Prabhu Cable Network as withdrawn.
The Tribunal by orders of 6 July and 4 August had directed Sun Distribution to enter into the provisional interconnect agreement with the petitioner and to supply its signals to it until final disposal of the matter.
During the pendency of the matter, the parties have come to terms and Sun said it was willing to treat the provisional interconnect agreement as the final agreement.
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.
