Cable TV
Sun Distribution & Andhra MSO to mutually examine LCO subscriber base
NEW DELHI: Multi system operators (MSOs) Sun Distribution Services and Andhra Pradesh’s Vaji Digital Network will jointly examine the latter’s local cable operator (LCO) subscriber base before the Telecom Disputes Settlement and Arbitration Tribunal (TDSAT) examines the issues between them.
Both parties have informed the Tribunal that they decided on a joint inspection in a mutual meeting last week.
The two MSOs also entered into an interim provisional agreement in connection with the signals.
Listing the matter for 22 September, TDSAT said that it had framed issues in this matter on 18 August and directed Vaji to file its affidavit in evidence within three weeks time.
Earlier in May, Sun was directed by the Tribunal to enter into interim and provisional interconnect agreements to supply signals to Vaji Digital Network in Rajahmundry, which is not a Digital Addressable System (DAS) area.
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.
