Cable TV
Siti Networks posts Rs 509 million operating EBITDA in Q2 FY22
Mumbai: Multi-system operator (MSO) Siti Networks has released its consolidated audited financial results for Q2 FY22 ended on 30 September. The company has maintained operating EBITDA at Rs 509 million and its operating EBITDA margin expanded to 13.9 per cent.
The company announced the launch of Siti Mitra mobile app for its 25000+ local cable operator partners. The app has a fully functional ‘Own Your Customer’ subscriber management system, allowing partners to have control of their business on their palms. The app is available on the Google Play store.
Total revenue (excluding activation) increased to Rs 3672 million from Rs 3615 million in the previous quarter. The company’s subscription revenue remained essentially flat at Rs 2350 million. Siti Broadband, too, observed a base jump of 20 per cent year on year and seven per cent quarter on quarter to 2.19 lakh. Siti Broadband’s revenue increased 4.1 per cent over the previous quarter and 11 per cent YoY to Rs 288 million.
“Siti’s continued focus on operational efficiencies and strict control over expenses has ensured that our operating EBITDA is Rs.509 million with 13.9 per cent operating EBITDA margins. Our total revenue also increased to Rs.3,672 million. Our push for SITI Broadband has ensured that our customer base and revenues are up 20 per cent and 11 per cent y-o-y, respectively,” said Siti Networks chief executive officer Anil Malhotra.
He added, “We have always had our ears to the ground, and the launch of the Siti Mitra mobile app for our 25,000+ partners is a testament to that. The app has our fully functional ‘Own Your Customers’ subscriber management system, and now our partners will be able to manage their business from their mobile phones. The app is available on the Google Play Store.”
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
