Cable TV
Ortel to issue shares worth Rs 8.75 cr to promoters
MUMBAI: The board of directors of Ortel Communications, the multi-system operator (MSO), has approved the issue of equity shares to promoter group entities.
According to the release issued to the BSE, the company has proposed to issue 25 lakh equity shares at an issue price of Rs 35 per share to the promoters on a preferential basis for an aggregate amount of Rs 8.75 crore.
Furthermore, the board has also approved the issue of 9 per cent cumulative, non-convertible, redeemable preference shares for an amount not exceeding Rs 10 crore by way of private placement for a period of five years.
It has also approved the acceptance of fresh inter-corporate loan of Rs 8 crore at 9 per cent per annum for a period of five years.
The board has convened an extraordinary general meeting of the company on 9 April to approve the issue of equity shares and redeemable preference shares.
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.
