Cable TV
Shareholders to meet on 15 Oct for Hathway demerger approval
MUMBAI: The court has convened meeting of Hathway Cable and Datacom Ltd equity shareholders and Hathway Broadband Private Limited and their respective shareholders and creditors on 15 October, 2016, in Mumbai.
The meeting is for the purpose of considering and, if thought fit, approving with or without modification(s), the demerger of the broadband business of Hathway Cable and its transfer to Hathway Broadband, Ajay Singh, head, legal, company secretary and chief compliance officer, at Hathway Cable, stated in a communiqué to the BSE and the NSE.
The court appointed Jagdiskumar G. Pillai, Hathway Cable managing director and CEO, to be the chairman of the said meeting. The voting period begins on 11 0ctober, 2016 , at 10.00 am and ends on Friday, 14 0ctober, 2016, at 5.00 pm. Himanshu S. Kamdar, practicing company secretary, has been appointed as the scrutinizer. The results shall be declared on 17 0ctober, 2016.
The proposed demerger of the ISP Business (defined below) from Hathway Cable to Hathway Broadband may happen upon payment of Rs. 98.05 crore by the latter to the former. The plan is to demerge the ISP Business from Hathway Cable and transfer it to vest in Hathway Broadband.
Hathway Cable is a multi-system operator (MSO) engaged in the business of distribution of television channels. Hathway Broadband is a private limited company incorporated under the Companies Act, and a wholly owned subsidiary of Hathway Cable.
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.
