Cable TV
Siti Networks in Kolkata to migrate pay channels to new TRAI tariff scheme in phased manner
MUMBAI: Essel group promoted multi-system operator (MSO) Siti Network has planned to migrate Pay TV channels in Kolkata in a phased manner to get non-compliant subscribers to transition to the new TRAI tariff regime. While around 80 per cent of the MSO's 14 lakh subscribers were still to pick their pay channels from an a-la-carte list.
According to a report from The Telegraph, the MSO will start the process before the grace period given by Calcutta High Court in a recent order.
“About 20 per cent of our customers have filled in forms online or offline, specifying the channels they want to watch. We have shifted most of them to the channels of their choice. We will now start shifting the others who have not exercised their choices to the new system by withdrawing their pay channels. They will continue to get the free-to-air channels,” Siti Cable director Suresh Sethia said.
If there is chaos after the migration, the company might start moving some of the subscribers to combinations closest to their current packs. According to the report, another MSO is expected to move subscribers to a combination of channels that can be accommodated within the pricing brackets they are currently in.
“Since most pay channels are now priced higher than they were in the previous system, they will obviously miss out on some, if not several. The only way out is for them to register their choices immediately,” an official was quoted by The Telegraph.
Earlier Telecom Regulatory Authority of India (TRAI) extended the deadline for consumer migration to new plans till January 31. Despite the additional month, several MSOs complained that the majority of subscribers had not responded to the grace period making transition very difficult.
80 cable operators from the city also filed a petition against the order in Calcutta High Court and initially got a stay too. But the high court vacated the stay.
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.
