Cable TV
NDS ropes in Serbia Broadband as first VideGuard Express customer
MUMBAI: NDS Group plc, a provider of technology solutions for digital pay TV, announced that Serbia Broadband has selected the NDS VideoGuard Express solution to secure premium content on their new DTH service.
The solution includes NDS MediaHighway middleware and EPG. Serbia Broadband is Serbia’s largest cable operator.
NDS VideoGuard Express is built on the same proven VideoGuard conditional access technology that drives some of the most successful pay-TV operations around the world. These operators rely on NDS to manage their TV services because it is the most secure solution. This gives the operator access to the best available content which attracts and retains subscribers.
Serbia Broadband CEO Dragan Solak said, “We already have a successful cable system and we now want to offer customers who cannot receive the cable service a new satellite platform. The new satellite operation will be able to offer a great choice of content with 25 channels to start.”
NDS vice president Europe David Nabozny commented, “We are extremely pleased to be chosen by SBB for the supply of VideoGuard Express and see this as an excellent opportunity for NDS. NDS’s strength is in our content protection, middleware and electronic program guide – we have a worldwide reputation for our large systems. We are pleased that Serbia Broadband is acknowledging that our advanced technology also works well for smaller systems.”
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.
