Cable TV
Top management revamp clears path for investment in IndusInd Media
MUMBAI: IndusInd Media and Communications is finally set to get Rs 300 crore of investments from its promoter Hinduja Ventures, following a complete revamp of the top management at the multi-system operators with Tony D’silva as the new Managing Director and CEO.
The board of directors of Hinduja Ventures today reviewed the performance of IndusInd Media and decided to go ahead with its planned investment in the company to grab acquisition and growth opportunities arising from digitisation of cable TV services.
Hinduja Ventures, in a statement after the board meeting, said the investment is to take advantage of ‘several consolidation opportunities coming up in the digital environment’. The investment will also help IndusInd Media in expanding its customer base in the digital regions as well as spruce up its customer service.
Hinduja Ventures has also decided to invest Rs 2 crore in its subsidiary Grant Investrade, which is spearheading its head-end in the sky (HITS) plans.
IndusInd Media has planned several new services in the coming months such as broadband services, HD television, hybrid STBs for cable and internet and value added services for customers. The multi-system operator claims to have 8.5 million subscribers across 36 cities.
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.
