Cable TV
Several Chennai-based MSOs get clearance for DAS
NEW DELHI: A total of 119 Multi System Operators (MSOs), all over the country, have been granted permanent registration for 10 years to operate the digital addressable system (DAS).
The MSOs had been given provisional permission earlier.
Interestingly, many MSOs from Chennai have got permission except for Arasu as the latest recommendation of Telecom Regulatory Authority of India (TRAI) states that state-owned bodies should not be permitted, and also because of the denial of permission to Kal Cables and its subsidiary Sumangali.
The nine MSOs, which have got permission as per the latest list released on 22 September, are Koduri Satyanarayana, Sri Sai TV Services of Khammam District of Telengana; Abhilash Communications of Adilabad for notified areas of phase II and phase III cities in PAN India; JPR Channel of Mumbai for Mumbai (phase I) and phase II areas in Maharashtra and Gujarat; Operator Digital Tamil Nadu for all the cities, towns and villages of phase II,III and IV in Tamil Nadu; VK Digital Network of Chennai for cities/towns/areas occurring against phase I, phase II, phase III, phase-IV; Saga Network Entertainment of Chennai for Tamil Nadu; Talachaer TV Home Cable Network of Talacher in Odisha for Angul District and Dhenkanal District, Odisha ; Voice and Vision Club of Singrauli in Madhya Pradesh for phase III and IV of Madhya Pradesh and Sonebhadra Districts of Uttar Pradesh; and Den Network Satellite of Mumbai for Maharashtra.
Digicable Network of Mumbai and Kal Cables of Chennai, which had received provisional licence’s, have been refused permission as it has failed to get the clearance of the Home Ministry.
According to a list issued in late July, 16 MSOs had been refused permission. It also said that Kolkata based Digicable Communications had been denied permission after the break-up of the joint venture with Digicable Networks of Mumbai, which has received permission for Greater Mumbai, National Capital Territory of Delhi and Greater Kolkata.
MSO sources, however, said that the approved list was in addition to the 140 whose names had been approved in March last year.
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.
