Cable TV
GTPL Hathway consolidated Q1 FY20 PAT at Rs 294 mn, up 121 per cent y-o-y
MUMBAI: GTPL Hathway Ltd (GTPL), India’s leading digital cable TV and broadband service provider, today announced the financial results for the first quarter of financial year 2019–20, as approved by its board of directors.
Commenting on performance, GTPL Hathway MD Anirudhasinhji Jadeja said, “Q1FY20 was the first full quarter with new tariff order (NTO), which has led to significant growth in subscription revenue. Subscription revenue grew by 47 per cent on a y-o-y basis. Overall, our first quarter performance was in line with our expectation and we see our next three quarters equally exciting. With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage. We will further increase the pace of growth momentum towards CATV and Broadband business in FY 2019 – 20.“
Q1 FY20 Consolidated Financial Performance Highlights (as per IND AS)
• Revenue (ex. EPC) at Rs 3,911 million, up 29 per cent y-o-y
• CATV subscription revenue at Rs 2,472 million, up 47 per cent y-o-y
• Broadband revenue at Rs 393 million, up 9 per cent y-o-y
• EBITDA (ex. EPC) at Rs 1,103 million; up 32 per cent y-o-y; EBITDA margin (ex. EPC) at 28.2 per cent up by 60 bps
• Profit after tax (ex. EPC) at Rs 266 million; up 100 per cent y-o-y
• Q1 FY20 EPC Contract revenue, EBITDA and PAT at Rs 632 million, Rs 52 Million and Rs 29 million
respectively.
Q1 FY20 Standalone Financial Performance Highlights (as per IND AS)
• Revenue at (ex. EPC) Rs 2,538 million; up 27 per cent y-o-y.
• CATV subscription revenue at Rs 1,631 million; up 45 per cent y-o-y.
• EBITDA (ex. EPC) at Rs 745 million up 31 per cent y-o-y; EBITDA margin (ex. EPC) at 29.4 per cent up by 90 bps
• Profit after tax (ex. EPC) came in at Rs 223 million; up 135 per cent y-o-y
Business Performance Highlights
CATV
• GTPL seeded 200,000 STBs during first quarter FY20, taking total seeded STBs as on June 30, 2019
to 9.70 million. Digital paying subscribers as on June 30, 2019 stood at 7.1 million, increased by
300,000 mainly due to reactivation of service by existing subscribers.
• Phase wise Seeded Boxes as on June 30, 2019 for Phase 1, Phase 2, Phase 3 and Phase 4 were at
0.86 million, 2.26 million, 3.00 million and 3.58 million respectively.
Broadband
• During Q1 FY20, the company added 240,000 Home Pass. Home Pass as on June 30, 2019 stood
at 2.66 million. ~50 per cent of Home pass are available for FTTX connections.
• Added 15,000 net broadband subscribers during Q1 and 10,000 FTTX subscribers (67 per cent of net
addition). Total subscribers as on June 30, 2019 were 340,000 of which 64,000 are FTTX
subscribers.
• The Broadband average revenue per user (ARPU) for Q1 FY20 was Rs 420.
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.
