Cable TV
TDSAT prohibits Scod18 from relaying IndiaCast channels
MUMBAI: Scod18 Networking Pvt Ltd (Scod18), a multi-system operator (MSO), has been restrained by the Telecom Disputes Settlement Appellate Tribunal (TDSAT) from taking signals of IndiaCast Media Distribution Pvt Ltd’s (IndiaCast) channels from any other operator.
The TDSAT has further ordered that the MSO cannot alienate or deal with its movable and immovable properties without the prior permission of the tribunal. The distribution company has also sought recovery of dues from Scod18 to the tune of Rs 2 crore.
Accepting IndiaCast’s plea, the tribunal passed an order stating, “Pass an ad-interim ex parte order restraining the respondent from receiving signals of broadcaster’s channels from any other operator or service provider transferring or alienating or dealing with its movable and immovable properties without the prior permission of this tribunal.”
IndiaCast has disconnected the signals of its channels to the MSO and it understands that the MSO might take signals of its channels from other platforms. Therefore, the company has taken a legal cover to restrain the MSO from indulging in piracy.
The interim order will be applicable till the next date of hearing, which is 8 May. IndiaCast is the content monetisation arm of the TV18 and Viacom18 network. IndiaCast has a bouquet of 51 channels, including nine in HD spanning across genres—general entertainment, kids, news, music, infotainment, and movies—in India.
IndiaCast had pressed for an interim relief but the TDSAT stated that the same will be considered after giving an opportunity of filing a reply to the MSO.
Scod18 has been granted four weeks’ time for its reply. The rejoinder, if any, may be filed within one week thereafter.
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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.
