Cable TV
Siti Cable acquires RPG cable biz
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MUMBAI: In a move that is likely to surprise many in the cable & satellite television industry, the Zee Telefilms controlled Siti Cable has concluded a deal to take control of RPG owned cable networks in Kolkata. |
 The agreement was reached early this morning in Kolkata where senior Siti Cable executives are camping at the moment. The enterprise value of RPG Netcom is estimated to be around Rs 350 million.
Contacted by Indiantelevision.com, Zee Telefilms additional vice-chairman and Siti Cable head Jawahar Goel confirmed the development. |
According to him, ” RPG’s buy-out will lend momentum to Siti Cable’s expansion plan.” He added that the “proactive role” of the West Bengal government will go a long way in addressing the concerns of the cable industry.
RPG Netcom is the largest muti-system operator (MSO) in Kolkata controlling 60 per cent of the city’s approximately 1.2 million cable homes. Until about a month ago, media was rife with reports that the Sun Network owned SCV had more or less concluded the deal to buy out the largest MSO in Kolkata. Ernst & Young was, reportedly, working as a facilitator for the SCV- RPG deal. Later in the day, a press release was issued by SitiCable stating that Siti – RPG deal is a strategic acquisition of Siticable, which has further strengthened its nation-wide distribution network, in tune with the current strategic processes at Zee. The media release also adds that as part of same strategy, Siticable has taken on lease two prominent cable networks of Bangalore namely, Ice Network and Atria Network. Siti Cable has taken other measures as well to consolidate its cable distribution strength through an affiliation scheme, which has received enthusiastic response from various cable networks of the country, particularly in Eastern UP, Punjab, Jammu & Kashmir, Gujarat and Haryana |
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.
