Cable TV
TDSAT directs Manthan Broadband to pay dues to IndiaCast
MUMBAI: The Telecom Disputes Settlement Appellate Tribunal (TDSAT) has directed Kolkata based multi system operator (MSO) Manthan Broadband Services to cough up dues worth Rs 2.3 crore to IndiaCast. The order comes after the content aggregator threatened to disconnect its signals failing payment from the petitioner’s (Manthan) side of its monthly subscription fees.
Manthan had admitted to dues of Rs 2.18 crore while IndiaCast claimed it to be Rs 5.07 crore. Adjusting the placement fees, TDSAT has settled it at Rs 2.3 crore. Manthan has been ordered to pay Rs 80 lakh by 30 May while the balance of the Rs 2.3 crore has to be given in two parts on 20 June and 15 July. It will also have to keep paying its monthly fees apart from its dues.
Until further orders come, the monthly subscription fee shall be given after adjusting the placement fees. However, the Tribunal states that by adjusting this, it is not endorsing Manthan’s demand for placement fees or any such in the fresh agreement as well.
Apart from this, Manthan has been directed to carry ETV News Bangla channel apart from the other channels in the agreement. ETV News Bangla was launched recently in March 2014.
However, if Manthan defaults in the payment of dues or subscription fees, IndiaCast is free to disconnect its signals to the former without any notice or order from TDSAT.
The next date of hearing has been set to 21 July and the parties have been asked to negotiate and come up with a fresh agreement starting from 1 April.
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.
