Cable TV
Reliance to sell 11.61 per cent stake in Hathway
NEW DELHI: Reliance Industries is preparing to sell 11.61 per cent of its stake in Hathway Cable & Datacom to comply with SEBI’s minimum public holding norms.
Through offers for sale (OFS), Reliance plans to offload Hathway shares worth Rs 442 crore, bringing down its holding in the cable company to 75 per cent from 86.6 per cent earlier.
According to exchange filings, Hathway promoters Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings will sell 205.44 million shares with a floor price of Rs 21.50 aggregating to Rs 441.61 crore.
This comes barely a month after the above mentioned Jio subsidiaries sold 338 million shares, or a 19.1 per cent stake in Hathway, aggregating to Rs 853.45 crore.
The share sales by promoter firms are aimed at achieving minimum public holding in the companies in accordance with the guidelines set by market regulator SEBI.
The OFS will open for non-retail investors on Monday and for retail buyers on Tuesday.
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.
