Cable TV
SPNI goes head to head with Indore-based Digiana Projects on “piracy”
KOLKATA: The battles in cable TV land continue, what with life gradually coming to the new normal. Sony Picture Networks India (SPNI) ,for instance, says it is cracking the whip on Indore-based MSO Digiana Projects for allegedly availing signals through clandestine means. SPNI has gone ahead and switched off the transmission of its TV channels to the distributor as it has allegedly not paid its dues, and is pirating its channels. While the broadcaster has filed a contempt petition in the Delhi high court, the MSO has petitioned the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) to come to its rescue.
The court has taken cognisance of piracy and admitted contempt of court case against Digiana along with issuing a notice to submit its response to the said petition. The matter will be listed in the second week of November this year.
In its response to TDSAT, SPN has charged that Digiana is continuing piracy even after undertaking before the court that it will not illegally broadcast the network’s signals. The broadcaster stated that it is difficult to deal with such a partner who is choosing unfair means along with withholding a huge amount in arrears – Rs 3.03 crore.
However, Digiana claimed in its petition that the number is inflated and actually stands at Rs 1.48 crore. TDSAT has not found any good grounds to accept the claim and asked the defaulter to produce further materials and evidence. The next date of hearing is 2 November. In the meantime, the tribunal has directed Digiana to pay Rs 2 crore within ten days of the notice for the restoration of SPNI channels. Apart from payment Rs 2 crore, TDSAT also directed Digiana to clear dues of all forthcoming invoices within a period of 15 days from the receipt of Invoice.
When indiantelevision.com reached out to the MSO, a senior staff member said that they had requested SPN for a fee waiver due to loss of revenue in Covid2019 crisis. He claimed that instead of waiving fees, the broadcaster hiked its bouquet price, which made the entire situation more difficult for its management. He also added that SPNI did not properly inform the MSO about the disconnection.
indiantelevision.com tried reaching the CEO of Digiana for comment but he was unavailable at the time of publication.
This isn't the first time that Digiana is in the dock over illegal transmissions of a broadcaster's signals. Last year, the Madhya Pradesh police registered a case against Digiana Projects after investigations revealed that the MSO had been stealing and broadcasting the signals of Star India at about 26 locations across the country.
Major broadcasters have frequently complained about unauthorised transmission. Even major MSOs have also raised their voice against illegal theft of signals. A number of complaints before the MIB and TRAI remain unsolved, a senior executive recently said.
The latest controversy involving SPN and Digiana comes amid an ongoing stand-off between broadcasters and TRAI over the amended new tariff order (NTO 2.0). While the case is sub-judice, the overall instability in the industry due to Covid2019 has precipitated more conflicts regarding signing agreements, timely payments, piracy, etc.
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.
