Cable TV
GTPL Hathway posts Rs 599.1 crore revenue for Q4
KOLKATA: On the back of strong performance in the fourth quarter of FY21, GTPL Hathway has posted Rs 599.1 crore revenue, up 29 per cent year-on-year. The pan-India multi system operator (MSO)’s revenue from operations for the last fiscal has gone up 22 per cent year-on-year to reach Rs 2148.4 crore. It has netted Rs 57.1 crore profit in Q4 compared to 13.8 crore loss in the corresponding period of FY20.
EBITDA stood at Rs 101.16 crore for the quarter ended 31 March 2021, up 32.32 per cent from Rs 76.45 crore in the same quarter a year ago.
GTPL’s cable TV subscription revenue stands at Rs 266.5 crore for the quarter compared to Rs 271.8 crore in Q3. However, CATV subscription revenue has grown by four per cent for FY21, reaching 1071.2 crore.
On the other hand, its broadband revenue has grown five per cent quarter-on-quarter basis to reach Rs 81.7 crore in Q4. While CATV subscription revenue saw only one per cent year-on-year growth for the quarter, broadband business has seen a huge turnaround registering 77 per cent year-on-year spike.
Significantly, the MSO’s overall subscriber base for pay TV universe has remained the same at eight million in FY21 but active broadband subscriber base has increased by 1.5X to reach overall 635K users. Average Revenue Per User (ARPU) has also gone up by 5.5 per cent and stands at Rs 445 at the end of FY 21. The company has added 540K new home passes in the year. In the last quarter, it has added 70K home pass and added 45K broadband subscribers.
“GTPL Hathway consistently delivered on key KPIs, despite lockdown and restrictions in FY21. The highlight of FY21 was the growth in subscription revenues for both CATV and broadband business, strong profitability, net-debt free status, geographical expansion, healthy balance sheet and improved return ratios,” GTPL Hathway managing director Anirudhsinh Jadeja said.
“We have reduced our gross debt by Rs 693 million in FY21. Additionally, the company’s board has recommended to increase the dividend to Rs 4 per share in FY21. The company associated with Boman Irani as its brand ambassador during Q4FY21. GTPL is gearing up to launch new products and services in FY22, thereby propelling its value-proposition in existing and new markets,” he added further.
(All numbers stated here are on consolidated basis unless stated otherwise)
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.
