Cable TV
Reliance Jio awaits security clearance for pan India MSO licence
NEW DELHI: Despite announcements by the Information and Broadcasting Ministry about expediting clearances, several proposals by private multi-system operators have remained pending for long periods either with the I&B or the Home Ministry.
However, I&B secretary Bimal Julka told Indiantelevision.com today that a letter had been sent to the Home Ministry to expedite security clearances, so that the DAS targets could be met.
The Ministry said a proposal by Reliance Jio for registration as a multi-system operator (MSO) under the digital addressable system was sent to the Home Ministry on 2 Feburary for security clearance.
The representative of Reliance Jio, Abhishek Soni, was told that the Home Ministry will take some time to furnish comments/security clearance.
CAT Vision, during a recently held open house meeting, was told that a reminder was being sent to the Home Ministry in its case. Signum Digital Network was also given the same assurance.
Digirevo Networks received a similar response to its query at the open house meeting.
Indiverse Broadband was told that its request for foreign direct investment (FDI) had been turned down by the Finance Ministry. Its representative said the company had already informed the I&B Ministry in June last year that it no longer needed FDI. However, it was informed by the Ministry officials that no such response had been received from 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.
