Cable TV
Hathway Bhawani Cabletel reports quarterly loss amid declining revenues
MUMBAI: It’s a small MSO in the eastern part of Mumbai and covers the area of Chembur. But Hathay Bhawani Cabletel is an off shoot of Hathway & Cable Datcom, which is a national MSO and is a part of Reliance Industries.
The company reported financial results for the quarter and nine months ended 31 December 2024, revealing declining revenues and a shift from profitability to losses compared to the previous year.
Q3 Financial Performance (October-December 2024)
* Total Income: Rs 59.57 lakh, down 12 per cent from Rs 67.92 lakh in Q3 FY 2023.
* Total Expenses: Rs 65.25 lakh, up 21 per cent from Rs 53.89 lakh in Q3 FY 2023.
* Net Loss: Rs 5.68 lakh, compared to a profit of Rs 4.03 lakh in the same quarter last year.
The decline in income and significant rise in expenses contributed to the company’s unfavorable quarterly performance, highlighting operational inefficiencies and increased cost pressures.
Nine-Month Financial Performance (April-December 2024)
* Total Income: Rs 181 lakh, a 12 per cent decline from Rs 206.25 lakh during the same period in 2023.
* Total Expenses: Rs 203.20 lakh, a slight reduction from Rs 205.66 lakh in the prior year.
* Net Loss: Rs 22.20 lakh, compared to a modest profit of Rs 59,000 during the nine months ended December 2023.
The income contraction coupled with sustained high expenses reversed the profitability recorded in the previous year.
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.
