Cable TV
No progress in Arasu application for MSO licence for DAS
NEW DELHI: There is no progress in the application of Tamil Nadu Arasu Cable TV Corporation Limited for the MSO licence, if one goes by the reply given in Parliament by Minister of State for Information and Broadcasting Rajyavardhan Rathore.
He said the matter is being examined in the light of the recommendations of the Telecom Regulatory Authority of India (TRAI) regarding entry of government entities in the broadcasting and distribution activities. TRAI had in reports in 2008 and early this year reiterated that government entities and political parties should not be permitted to enter the broadcasting sector.
The Ministry had received a letter of 3 June 2014 from the then Tamil Nadu Chief Minister J Jayalalitha for grant of multi system operator registration to Arasu Cable TV Corporation Limited for operating in the Digital Addressable System (DAS) notified areas of Tamil Nadu.
The Ministry has so far granted 129 permanent MSO registrations for operating in DAS notified areas. The details are available on the Ministry’s website www.mib.nic.in.
“No licences have been granted in respect of DTH services during the last three years,” the Minister said. DTH licenses are granted under “DTH guidelines issued on 15 March 2001.”
Under the Cable Television Network (Regulation) Act 1995, Cable Operators are required to get registrations from Post Offices. However, under the amendment in Cable Television Network (Regulation) Act 2011, the multi system operators are required to get registration from the Ministry for operation in Digital Addressable Systems (DAS) notified areas.
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.
