Cable TV
Manthan Partners with Magnaquest Product SURE!
MUMBAI: ManthanBroadband Services Pvt. Ltd, one of the leading MSOs in India, has signed up a 10-year deal with SURE!, a Magnaquest product, to provide comprehensive cloud-based Subscription Lifecycle Management that include Billing, CRM, and end-to-end Managed Services, the two companies announced today.
In one of the first-of-its kind deal in the MSO space, Magnaquest will host the entire infrastructure of the application, and manage it for Manthan as part of their Managed Services Contract. This Software-as-a-service (SaaS) business model is backed by globally-proven Magnaquest Operations support.
SURE!, Magnaquest’s award-winning and globally proven combination of BSS, OSS and Managed Services will align perfectly with Manthan’s installation goal of over 3.6 million STBs by 2014 across the states of Bengal, Orissa, Assam, Jharkhand and Meghalaya. SURE! will also complement the focus of Manthanin transforming the entire network to address next generation digitization requirements and provide best customer experience.
Speaking about the global search for the right Subscriber Management, Billing and Managed Services partner, Mr.Gurmeet Singh, Director, Manthan Broadband Services, said, “We were looking for a provider of international quality, a solution that is robust for geometric expansion and growth, and at the same time, flexible to support us in various business approaches, fast innovation and dynamic market models. We were looking for a partner with a technology that would not fail, but also bring in domain-edge, strategic approach and business insights support to mutually-nurture in taking the right strides over a long period of time.”
“The reasons for selecting SURE!, from Magnaquest, are many including their undisputed global leadership in Media & Entertainment domain for SMS, international-class solutions, a rapidly scalable technology, and even more significantly – the ability and willingness to completely take up the responsibility of planning, creating, deploying and managing our entire technology infrastructure, while meeting our future requirements as we grow in the new era of digitized Indian Pay TV market” he said.
“Having evaluated various global players in the space and considered the value-edge in the offerings of all Subscription Lifecycle Management companies, we had no doubts in going ahead with SURE! because of its client-centric DNA, ability to think for our end-subscribers, speed and flexibility, optimized costs, its ‘Pay-as-you-grow’ model and, the brand promise,” Mr. Singh said. “We are sure SURE! will help us in our overall mission to become one of India’s most-loved provider of home and mobile entertainment connectivity.”
“We are very excited to be chosen by Manthan, one of the fastest growing regional MSOs in the country, after a global search for a strategic technology and consulting partner. We are looking forward to a great relationship and supporting Manthan’s leadership in attaining their ambitious goals with our proactive and comprehensive value offerings. We have a promise to improve ARPU and enable loyalty from subscribers, growth readiness and total operations management. It is a partnership that can change the game for end-users, making their experience of entertainment connectivity truly world-class and best-in-class.,” said Rajiv Debbad, Director – Business Development, SURE!
“We have delivered our subscriber management and billing solutionon SaaS platform to Manthanin flat 3 week’s time. We are amongst a handful of players in the world poised and ready to harness the Subscription Revolution underway. SURE! is more than a product, platform or suite of industry-focused niche solutions-set. It is a brand, a faith, a promise to optimize technology for the success of your business,” Mr. Debbad said.
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.
