Cable TV
Hathway expands in north, acquires 51% in a Kanpur cable network
MUMBAI: Hathway Cable & Datacom is expanding its cable TV network in the northern region through the acquisition route. After buying a controlling stake in two local cable TV networks in Chandigarh and Mohali, the multi-system operator (MSO) is expanding its footprint in Kanpur.
Hathway has acquired 51 per cent equity in JMD Sherawali Network, a leading cable operator in Kanpur, for an undisclosed amount.
“By reaching out to Kanpur, it will be an important start for us into the core Uttar Pradesh market. JMD Sherawali Network has a 60 per cent market share in Kanpur. We have bought 51 per cent stake in the network,” said Hathway Cable & Datacom CEO and MD K Jayaraman.
The MSOs are selectively expanding their cable networks. Last year, rival MSO Siticable bought out Indian Cable Net from the RPG Group to become the dominant MSO in Kolkata. Hathway has swung into action this year with the first acquisition made in February.
With this acquisition, Hathway will be operating its cable TV services in 14 cities. Hathway’s cable TV is already available in cities across the nation including Mumbai, New Delhi, Chennai, Pune, Nashik, Bangalore, Hyderabad, Ludhiana, Vijaywada, Jalandhar and Mysore. The MSO is currently offering digital cable services in New Delhi, Mumbai, Pune, Bangalore and Hyderabad.
Besides the analogue business, Hathway is also making efforts to rolout its digital services. The MSO will be launching gaming on its digital cable TV services by April-end. For the gaming technology, Hathway has selected NDS. Though available free, the commercial launch is likely to take about a month.
“The gaming feature will be available to all our digital customers initially on a free of cost basis from end of April. Many more games will be added in the course of the year,” said Jayaraman.
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.
