Cable TV
TDSAT gives a week’s time to Telengana MSOs to carry TV9
MUMBAI: The Telecom Disputes Settlement Appellate Tribunal (TDSAT) has directed the multi system operators (MSOs) in Telengana to resume the broadcast of news channel TV9 within a week from the passing of the order on 29 October.
The case which had been filed by the Associated Broadcasting Corporation (ABC) against MSOs Hathway Cable & Datacom, Siti Vision Digital Media and others, had actually been shut in early October when TDSAT had directed the state MSOs to carry the channel. At that time, the Telengana state additional advocate general Ramachandra Rao had said that the government would provide security to the MSOs and LCOs for carrying the channel. This was subject to ABC not broadcasting content that would violate the law or put out defamatory content against the state of Telangana.
However, the Central Government solicitor general Ranjit Kumar regretfully said that the assurance given by Rao ‘remained mere words on a piece of paper’. To this, Rao produced proof of letters sent to the Telangana Police director general asking them to ensure that ‘no untoward incident takes place as a result of the petitioner’s broadcast as per the TDSAT order.’
However, counsel for the MSOs said that the police would come to rescue only after the MSOs had suffered damages from the mob. The answer to this would be to issue a public notice or a press release so that the MSOs could resume broadcast.
The TDSAT has directed the State of Telangana to file an affidavit that as long as TV9 refrains from defamatory content against the state, its people, government and follows the Programme Code and the Advertisement Code, the government would provide security. It has also asked the broadcaster and the MSOs to publicise the order through electronic media.
The MSOs will have to intimate the police about the date when they shall resume broadcast. TV9 has been switched off from the state of Telangana from several months due to its broadcast of content that even the TDSAT saw as ‘highly defamatory’.
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.
