Cable TV
Rajesh Sethi succeeds Wadhwa as ED & CEO of SITI Networks
NEW DELHI: Senior media expert Rajesh Sethi has been appointed Executive Director CEO of SITI Networks Limited, as V D Wadhwa is stepping down.
Wadhwa has been asked by the management to help in smooth transitioning by being with Sethi over the next couple of months.
Sethi has over 22 years of experience in varied industries like Media, Insurance and Automotive sector across India and South East Asia.
Sethi joined Ten Sports (Taj Television – a then subsidiary of Zee Entertainment) in July 2013 as Chief Executive Officer, where he spearheaded the turnaround and divestment of Ten Sports from multi year losses to a profitable entity and has placed the Distribution & Placement Business on a consistent growth path.
Before joining Zee Entertainment, Sethi has been associated with large conglomerates like Tata, General Electric and Allianz with a proven track record of progressive leadership and entrepreneurial success. He specializes in enhancing Stakeholder value through large-scale Business Transformation, Leadership Development, Innovation, Organization change management and Customer strategies.
Sethi completed his under graduation in Mechanical Engineering and received his Executive Education from Harvard Business School, Kellogg School of Management & INSEAD and is a GE certified Quality Green Belt.
He has been conferred with prestigious awards of “Rashtriya Udyog Ratna” by N.E.H.R.D.O. and “Global Indian Achievers Award for Business Excellence 2012″ by Economic Development Forum.
Speaking on his tenure at SITI Networks, Wadhwa said, “It was one of my most satisfying careers at SITI. Under the guidance of the Board, we have managed to establish SITI as one of the leading profitable players today. I thank the Board for the opportunity and wish Rajesh and his team all the success.”
Commenting on his new role, Sethi said “Post our very successful turnaround & divestment of Tensports and thereafter implementation of Digitisation of our broadcasting business, I am very excited to further transform our Delivery Platform with SITI Networks which has immense growth possibilities & opportunities. The sector is on the cusp of reinventing itself with smarter Business Models and ways of delivering & connecting to customers with varied products and services”.
In a statement, the Board placed on record its appreciation for the role played by Wadhwa during his tenure in turning around the business profitably and inculcating the highest ethical standards and professional work culture in the Company.
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.
