Cable TV
Hathway Q2-17 revenue and EBIDTA up; adds 1 lakh broadband subs
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 18.8 per cent growth in Total Income from operations (TIO) and 11.9 percent growth in operating profits (EBIDTA) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported TIO of Rs 321.07 crore in Q2-17 as compared to Rs 270.35 crore in the corresponding quarter of the previous year.
The company’s EBDITA including other income in the current quarter was Rs 54.9 crore (17 percent EBIDTA margin) and was Rs 49.05 crore (17.9 percent EBIDTA margin) in Q2-16. The company’s loss in the current quarter increased to Rs 40.45 crore from a loss of Rs 31.99 crore in Q2-16.
High growth in Cable subscription revenue, Activation fees and Broadband revenue are chiefly responsible for the improved performance says the company. The company’s broadband segment has been performing very well, as a matter of fact, among the national level MSOs’ Hathway has the highest subscription and revenue numbers among all of them. Within Hathway, in Q2-17, Broadband subscription had the highest contribution to revenue, even more than Cable TV subscription revenue
Hathway’s broadband subscriber base increased to 8 lakh in Q2-17 from 7 lakh in the immediate trailing quarter. Consolidated broadband revenue in the current quarter as per IND AS increased 67 percent to Rs 120.3 crore from Rs 71.9 crore in the previous year. Broadband ARPU in the current quarter increased to Rs 643 from Rs 616 in the corresponding quarter of the previous year, but declined from Rs 670 in the immediate trailing quarter.
Consolidated reported CATV subscription revenue as per IND AS in the current quarter increased 12 percent to Rs 120.2 crore from Rs 107.5 crore in Q2-16 Hathway says that it has achieved a milestone of deployed 18 lakh STBs, of which 8 lakh STBs were deployed in Phase III & IV areas during Q1- 17. The company says that it has now digitized 92 percent of its cable TV universe. CATV ARPU in DAS Phase I increased to Rs 105 from Rs 100 in the corresponding year ago quarter.CATV ARPU in Phase II areas increased to Rs 90 from Rs 80 in Q2-16. ARPU from phase III areas was Rs 30.
Placement revenue as per IND AS in the current quarter declined 23 percent to Rs 65.4 crore from Rs 84.8 crore in Q2-16.
Activation revenue as per IND AS increased 37 percent y-o-y in Q2-17 to Rs 20.2 crore from Rs 14.7 crore in Q2-16.
Other revenue as per IND AS declined 5 percent in Q2-17 to Rs 4.8 crore from Rs 5.1 in Q2-16.
Hathway’s Standalone Total Expenditure in Q2-17 increased 19 percent to Rs 340.49 crore (99.6 percent of TIO) from Rs 286.19 crore (105.9 percent of TIO) in the previous year.
Standalone Pay channel cost in the current quarter increased 22.3 percent to Rs 104.31 crore (32.2 percent of TIO) from Rs 85.56 crore (31.3 percent of TIO) in FY-15. Standalone Employee Benefit expense in Q2-17 increased 46.9 percent y-o-y to Rs 23.53 crore from Rs 16.02 crore.
Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.
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.
