Cable TV
Den Network’s profit run continues in FY-2014; topline rises
BENGALURU: At a time when most companies involved in carrying television signals from the broadcaster to the consumer via cable have reported losses and are complaining about poor collections, Den Networks Ltd (Den Networks) has reported profits, albeit slightly lower by 3.6 per cent as compared to last fiscal’s.
The company’s assets and liabilities show that its trade receivables in FY-2014 has gone up by 20.4 per cent to Rs 391.92 crore (35.1 per cent of Operating Revenue of Op Rev) as compared to the Rs 325.62 crore (35.6 per cent of Op Rev) in FY-2013 as is obvious, in terms of percentage of Operating revenue vis-a-vis the previous year, the percentage of trade receivables has dropped fractionally.
Den Networks reported a PAT of Rs 75.14 crore (6.7 per cent of Op Rev) for FY-2014, as compared to the PAT of Rs 77.94 crore (8.5 per cent of Op Rev) in FY-2014. In Q4-2014, the company reported a PAT of Rs 15.21 crore (5.04 per cent of Op Rev), lower by 5.4 per cent than the Rs 16.08 crore (5.9 per cent of Op Rev) during the immediate trailing quarter and 41.7 per cent lower than the Rs 26.08 crore (9.61 per cent of Op Rev) in Q4-2014.
On the topline front, Den Networks has crossed the Rs 1000 crore operating revenue mark in FY-2014. The company reported Op Rev of Rs 1116.69 crore which was 22.2 per cent more than the Rs 914.05 crore last fiscal. Op Rev for Q4-2014 at Rs 301.86 crore was 10 per cent more than the Rs 274.46 crore in Q3-2014 and 11.2 per cent more than the Rs 271.43 crore in the year ago quarter Q3-2013.
Here’s what the company has to say in its investor update:
The company’s income from operations in Q4-2014 at Rs 930.43 crore can be broken in to streams –Rs 281.69 crore from its cable business and Rs 648.65 crore from its distribution business. After cost of distribution rights of Rs 633.57 crore, net revenue from the segment along with other income is Rs 17.44 crore, while the net revenue from the cable including other income is Rs 308.23 crore. The cable business has shown a positive result before tax of Rs 11.78 crore, while its distribution business a negative result or loss of Rs 4.6 crore.
Consolidated Full Year EBITDA for FY-2014 was Rs 367.71 crore, a 52 per cent jump from Rs 242.70 crore in FY-2013. The Company says that it has incurred expenses of Rs 15 crore (approx) towards broadband and DAS Phase III and IV cities in this year, which have been considered in the EBITDA.
Full Year EBITDA for FY-2014 Rs 357.51 crore, a 54 per cent jump from Rs 231.72 crore in FY-2013 EBITDA margins stood at 32.1 per cent.
Subscribers and Set Top Box Deployment
In Q4-2014, Den Networks claims to have deployed 450,000 set top boxes. It says that it now has digitised approximately 6.1 million homes of its total subscriber base of 13 million homes. The company says that it has an estimated analog base of 7 million homes in its Phase III and IV markets. It confirms that it is well capitalised to meet the deployment requirements of its existing analog subscriber base in these cities.
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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.
