Cable TV
Mumbai-based consumer body flays CAS
The Consumer Guidance Society of India has recommended that the government should first ensure that CAS addresses the critical issue of dismantling the on ground cable monopolies and that choice of selecting the channels rests with consumers, before implementing the system.
According to CGSI chairman Anand Patwardhan, the Cable Networks Regulation Amendment Bill 2002, to be tabled in Parliament tomorrow, offers no protection to consumers against monopolistic cable ops, nor does it seek to redress the grievances of consumers. Patwardhan points out that while the choice of free to air channels to be part of the basic service will now rest with the government while the choice of which pay channels to be offered to consumers will rest with cable ops. While the burden of buying the set top boxes will have to be borne by the viewers, the consumers will also have to pay a higher monthly fee monthly fee for receiving the pay channels, he feels.
“The consumer will have no recourse if a particular pay channel that a consumer wants to see and is ready to pay for is not made available by the cable op. Neither will the consumer have a choice to see the FTA channel of his choice,” says Patwardhan. He also terms as discriminatory the bill’s proposal to “legalise” consumers being charged differently in different areas of the same city, he observes.
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.
