Cable TV
SN Sharma joins Reliance Jio
MUMBAI: It was a shocker when the news of multi system operator (MSO) Den Networks CEO SN Sharma quitting the company broke. Now, after months of speculation about his next move, Sharma has made the decision.
The man credited with creating one of the biggest MSO network, Den Networks, will now be looking into the day to day operations of Reliance Jio. Confirming the news to Indiantelevision.com, Sharma said, “Yes, I have joined Reliance Jio.”
Reporting into Reliance Jio CEO K. Jayaraman, Sharma will be an integral part of the top management.
Sharma joined office starting 23 February but whether he will continue operating from Delhi, will be decided at a later stage.
With Reliance Jio awaiting approvals for the pan India MSO licence, the company is rapidly strengthening its team.
During his stint at Den Networks, Sharma’s vision of growth through consolidation and digitisation had laid the foundation for the company. He also spearheaded Den Networks’ rapid growth with his visionary leadership and execution abilities. He was also the driving force behind taking the company into the digital era.
He has nearly three decades of experience during which he has been associated with the electronic media industry for over 20 years.
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.
