Cable TV
MSOs to meet in Kolkata on gross billing
KOLKATA: Kolkata based multi-system operators (MSOs) mean business and how? Well! The fact that they have not been able to start gross billing in the city on the time as directed by the Telecom Regulatory Authority of India (TRAI, they have decided to meet on 3 January and discuss the smooth rollout of gross billing in the KMA area.
“Since the local cable operators affiliated with us are not ready to distribute the bills thinking that this might make them delivery boys, we have called up the meeting to discuss on the matter and come up with ways to ensure that gross billing begins in Kolkata,” said a MSO.
Some last mile operators (LMOs) have decided to not allow gross billing in Kolkata DAS I area, said another MSO. “The billing system will bring transparency and organise the business but some operators are opposing it,” he said.
“We were prepared for a long time with the bills slated to be put up on the system. Since some MSO’s were not ready we had to wait,” said Siticable Kolkata director Suresh Sethia.
Sources on the condition of anonymity questioned that while a few MSOs like DEN Networks and Digicable among others have not yet started the package, how can they start the billing process?
While another source questioned how MSOs who have achieved around 70-80 per cent CAF submit compliance report for gross billing?
When the Cable Operators Digitalisation Committee of the Association of Cable Operators convener Swapan Chowdhury, was contacted, he said: “The government is putting pressure on the MSOs to start gross billing so that it can collect tax easily. No one is concerned about the operators.”
“We will not allow gross billing to start till all the issues like licensing conditions, unworkable revenue share model and agreement with the MSOs are resolved,” concluded a LCO.
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.
