Cable TV
Provisionally licensed MSOs’ rises to 561, taking total to over 790
NEW DELHI: At a time when the last phase of the digital addressable system for cable TV is gathering momentum, the government cleared just under forty multi system operators over the past month, taking the total to 792 including 231 which have permanent (ten-year licences) by 26 February.
The last list issued on 26 February had put the total at 753 including the 231 which have permanent (ten-year) licences. The Information and Broadcasting had by 12 January cancelled the licences of 26 MSOs and closed their cases.
According to the list issued today but dated till 26 March, the areas of operation of some of the MSOs have been revised or amended. None of the 39 new licencees have got pan-India registration, though some have the registration to cover a particular state and most have only clearances for some districts. The new registrations are for from Himachal Pradesh, Bihar, Meghalaya, Jammu and Kashmir, Tamil Nadu Gujarat, Manipur, Madhya Pradesh, Karnataka, Rajasthan, Jharkhand, Uttarakhand, Maharashtra, Pondicherry, Chhatisgarh, Telangana, Odisha, and Andhra Pradesh.
With the home ministry directive about doing away with security clearances for MSOs’ not being communicated in writing to the MIB, the pace remains slow.
The permanent licence issued to Kal Cable of Chennai had been cancelled on 20 August, 2014 but this cancellation was set aside by the Madras high court on 5 September the same year. However, Kal Cable’s name continues to be in the cancelled list – presumably because the cases are still pending.
Sources said many MSOs holding provisional licences had not completed certain formalities relating to shareholders and so on.
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.
