Cable TV
Siticable shelves deal plans with Spectranet
MUMBAI: Siticable has dropped plans to enter into a deal with Punj family-controlled Spectranet as the talks prolonged for too long.
No settlement could be arrived at on the cost of takeover for running Spectranet’s operations. Besides, Spectranet’s franchisee cable operators in Delhi migrated to other multi system operators (MSOs).
“We have shelved our plans. The management at Spectranet took too long to decide and hand over the network. The price they wanted was also too high,” said a source in Siticable.
Siticable was in advanced talks with Spectranet to take it on lease for at least a period of three years. The primary objective was to get access to the fibre laid out by Spectranet in Delhi. This Would have enabled Siticable’s digital headend to be linked with its master control rooms in Delhi on Spectranet’s optic fibre backbone.
The other aim was to get access to the cable operators of Spectranet. “We were looking at a deal in totality. But the delay on finalising the terms spoilt whatever plans we had with Spectranet,” says the source.
Siticable has already linked its digital headend with five of its control rooms in Delhi via fibre optic. Only two control rooms are not linked and are running on analogue. “We are examining options of using the fibre backbone of Bharti or VSNL or other players. This would allow us to offer a total digital system across the city,” says the source.
Former Star India distribution head Arun Mohan had stitched a 10-year lease management deal with Spectranet through his company AM Trinity Platco. But with conditional access system not taking off, early this year Mohan decided to get out of the cable TV business and terminated the contract. Spectranet got into talks with Siticable but soon cable operators fled from the network to hitch on to the other MSOs like Incablenet and Hathway Cable & Datacom.
Siticable has taken on lease two independent operators in Bangalore, Ice Network and Atria Network. The company acquired in May Indian Cable Net (earlier RPG Netcom), a Kolkatta-based MSO, and wants to aggressively spread more affiliates across the country.
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.
