Cable TV
Mumbai’s last big independent cable operator shot dead
MUMBAI: An independent cable operator in Navi Mumbai was shot dead today afternoon, possibly bringing to surface the dirty face of cable wars.
Sanjay Gupta was at his office in Nerul when unidentified assailants shot him point blank at around 12:30 pm today. According to news reports, police suspects business rivalry but has not ruled out the possibility of the involvement of the underworld.
Gupta was receiving threats from the underworld over the last two months, according to news reports. He was attacked twice. His office was pelted with stones in one occasion.
Indiantelevision.com spoke to a number of cable operators in Mumbai who did not want to come out in the open, but severely decried the development. “We are meeting to decide what course of action to take. There is possibility of a cable blackout for a day. This is a dangerous thing to happen,” says an operator.
Cable wars were frequent in Mumbai, but for the last few years operators had arrived at a truce. This was particularly applicable to multi system operators (MSOs) who had expressed unity to better business operations and protect their commercial interests.
Gupta was the last big independent cable operator in Mumbai and withstood constant underworld threats to carve out a large network in CBD Belapur region, extending over Nerul and Vasi in Navi Mumbai. His cable network was called Supreme Cable Vision.
A rival cable network was expanding operations in Navi Mumbai and Chembur. But it is not clear yet whether Gupta’s death was a consequence of business rivalry.
As a protest, the cable operator community might go for a blackout. The brother of the deceased Bhupesh Gupta has been quoted by Sahara News as saying that the black out will go on for two days. He said Sanjay Gupta received threats over control of cable distribution in the area.
Reacting to the incident, a cable operator says: “There seems to be no permanent solution. Gupta had lodged a complaint but this could not stop his death.”
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.
