Cable TV
Den Networks reports higher revenue, lower PAT in Q3-2014
BENGALURU: Indian cable TV distribution company Den Networks Limited (Den Networks) reported 22.9 per cent consolidated revenue growth to Rs 297.24 crore in Q3-2014 as compared to the Rs 241.83 crore in Q3-2013 and a 7.5 per cent growth from Rs 276.58 crore in the immediate trailing quarter. YTD, Den Networks reported consolidated revenue of Rs 849.25 crore during nine months – 2014 which was 29 per cent more as compared to the Rs 658.54 crore during nine months (9M) – 2013. During FY 2013, Den Network’s Operating revenue was Rs 934.65 crore.
PAT (after minority interest) for the current quarter was down (59.1) per cent to Rs 7.02 crore in Q3-2014 as compared to the Rs 17.17 crore in Q3-2013 and was (37.2) per cent lower than the Rs 11.18 crore in the immediate trailing quarter. During 9M-2014, the company’s PAT at Rs 28.35 crore was down (37) per cent as compared to the Rs 44.94 crore in the corresponding nine month period of last year.
Let us look at the other Q3-2014 figures reported by Den Networks
Cable revenue for Q3 -2014 was Rs 281.00 crore as compared to Rs 229.66 crore in Q3 FY’13, up 22 per cent y-o-y and 7 per cent more than the Rs 263.32 crore in Q2-2014. Over 9M-2014, cable revenue was up 31 per cent to Rs 807.16 crore as compared to the Rs 617.18 crore in 9M-2013.
Cable EBIDTA in Q3-2014 was up 44 per cent to Rs 91.95 crore from Rs 63.63 crore in Q3-2013 and was up 3 per cent from Rs 89.43 crore in Q2-2014.During 9M-2014 EBIDTA was 80 per cent higher at Rs 267.21 crore than the Rs 148.64 crore in 9M-2013.
Den Networks Total expense for Q3-2014 at Rs 238.63 crore was up 17.19 per cent as compared to the Rs 203.63 crore in Q3-2013 and 6.3 per cent more than the Rs 224.43 crore in Q2-2014. YTD, the company’s Total expense during 9M-2014 at Rs 692.75 crore was 23.7 per cent more than the Rs 560.20 crore in 9M-2013. The company reported Total expense of Rs 777 crore in FY 2013.
The networks content cost in Q3-2014 at Rs 95.33 crore was 15 per cent higher than the Rs 82.93 crore in Q3-2013 and was 5.3 per cent more than the Rs 90.54 crore in the immediate trailing quarter. During 9M-2014, Den Networks paid Rs 270.88 crore towards content cost, which was 19.3 per cent more than the Rs 227.03 crore in 9M-2013. During FY 2013, the company paid Rs 298.8 crore towards this cost head.
Den Networks finance cost more than doubled (up 2.08 times) in Q3-2014 to Rs 24.40 crore from Rs 11.69 crore in Q3-2013 and was up 0.5 per cent from Q2-2014’s Rs 24.28 crore. YTD, in 9M-2014, the company paid Rs 696.94 crore which was 2.28 times the Rs 30.72 crore in 9M-2013. During FY 2013, finance cost was Rs 40.78 crore.
The company says that out of a total subscriber base of 1.3 crore homes, approximately 0.57 crore homes have been converted to digital. It claims to be present in 27 out of a total of 41 Phase 1 and 2 cities and approximately 0.5 crore set top boxes have been deployed in these markets.
Den Networks further says that it has an estimated analog base of 0.8 crore homes in its Phase 3 and 4 markets. The company says that is well capitalised to meet the deployment requirements of its existing subscriber base in these cities. More than 0.07 crore set top boxes have already been installed and the pace of deployment is expected to pick up rapidly as the deadline approaches. The company says that it has also launched digital services in several major cities and towns of Uttar Pradesh, Maharashtra, Bihar, Rajasthan and West Bengal over the last few months.
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.
