Cable TV
GTPL Hathway reports higher numbers and flat q-o-q ARPUs
BENGALURU: After declaring a maiden 10 percent dividend for the previous fiscal, Indian Multi-System Operator (MSO) and Broadband Internet Services (broadband) provider GTPL Hathway Limited has reported a year-over-year growth in standalone CATV total income of 25 percent for the quarter ended 30 June 2017 (Q1-18, current quarter). Quarter-on-quarter (q-o-q), standalone CATV total income however declined 5 percent on lower other income. The company’s Average Revenue per User (ARPU, net of taxes) was almost flat q-o-q across all the four DAS phases I, II, III and IV at Rs 100, 95, 54 and 40 respectively, except that in Q4-17, DAS phase IV ARPU reported by the company was slightly higher at Rs 41. GTPL Hathway reported CATV total income of Rs 1,782 million, Rs 1,884 million and Rs 1,423 million for Q1-18, Q4-17 and Q1-17 respectively.
The company’s has two subsidiaries – GTPL Broadband Private Limited a 100 percent subsidiary of GTPL Hathway and GTPL Kolkata Cable and Broadband Pariseva Limited (KCBPL) in which GTPL Hathway has a 51 percent stake.
Both the subsidiaries along with GTPL Hathway (standalone) contributed approximately 90 percent of revenue in consolidated accounts of financial year 2016-2017. The two subsidiaries also reported a healthy growth in numbers.
GTPL Hathway managing director Anirudhasinhji Jadeja said, “After posting 33 percent growth in CATV subscription revenue and 77 percent growth in broadband subscription revenue, GTPL Hathway continued the growth momentum well into the first quarter of fiscal 2018. The monetisation of phase III and phase IV kicked off. Further, at GTPL we are continuously upgrading our technology to offer the best in class output to our subscribers. We have deployed the next generation video headend system Harmonic Inc., USA which will enable us to offer up to 650 cable TV channels and 50 OTT channels.”
GTPL standalone EBIDTA for the current quarter increased 29 percent y-o-y to Rs 570 million (32 percent margin) from Rs 443 million (31 percent margin), but declined 10 percent q-o-q from Rs 637 million (34 percent margin). Standalone profit after tax (PAT) increased 86 percent y-o-y to Rs 148 million from Rs 79,4 million, but declined 26 percent q-o-q from Rs 201 million.
GTPL standalone subscription revenue increased 19 percent y-o-y in Q1-18 to Rs 903 million from Rs 757 million and increased 7 percent q-o-q from Rs 842 million. Standalone placement revenue in the current quarter increased 17 percent y-o-y to Rs 578 million from Rs 493 million and increased 2 percent q-o-q from Rs 567 million. Activation revenue in Q1-18 increased 34 percent y-o-y to Rs 176 million from Rs 136 million and increased 3 percent q-o-q from Rs 171 million. Other income in the current quarter almost tripled (2.98 times) y-o-y to Rs 125 million from Rs 42 million, but was less than half (declined 59 percent) q-o-q as compared to Rs 304 million in Q4-17.
GTPL standalone total expenditure increased 24 percent y-o-y in Q1-18 to Rs 1,211 million from Rs 980 million, but declined 3 percent q-o-q from Rs 1,247 million. Pay channel cost in Q1-18 increased 28 percent y-o-y to Rs 798 million from Rs 622 million, but declined 2 percent q-o-q from Rs 815 million.
GTPL standalone employee cost in the current quarter increased 15 percent y-o-y to Rs 116 million from Rs 101 million and declined 11 percent q-o-q from Rs 130 million. Standalone administrative expense in Q1-18 increased 17 percent y-o-y to Rs 174 million from Rs 149 million but declined 2 percent q-o-q from Rs 177 million. Standalone other operating expense in the current quarter increased 14 percent y-o-y to Rs 123 million from Rs 108 million and was almost flat q-o-q as compared to Rs 124 million.
The company says that it has seeded 0.86 million set top boxes in the current quarter and increased its active digital subscribers by 0.71 million. So far until 30 June it has seeded 7.76 million STBs’ and it has 6.69 million active STBs’. Phase-wise, GTPL Hathway says that it has completed seeding of 0.72 million, 2.23 million, 2.53 million and 2.28 million STBs’ in DAS phases I, II, III and IV respectively until 30 June 2017.
KCBPL total income in the current quarter increased 12 percent y-o-y to Rs 325 million from Rs 290 million and increased 5 percent q-o-q from Rs 310 million. KCBPL EBIDTA in Q1-18 declined 23 percent y-o-y to Rs 63 million from Rs 81 million and increased 7 percent q-o-q from Rs 59 million. KCBPL reported loss of Rs 13 million as compared to a profit of Rs 8 million in the corresponding year ago quarter and a lower loss of Rs 7 million in the immediate trailing quarter Q4-17.
GTPL Broadband total income increased 25 percent y-o-y to Rs 318 million from Rs 254 million and increased 4 percent q-o-q from Rs 304 million. GTPL Broadband EBITDA in Q1-18 increased 65 percent y-o-y to Rs 84 million from Rs 51 million and increased 9 percent q-o-q from Rs 77 million. GTPL Broadband PAT almost doubled (went up by 95 percent) to Rs 37 million from Rs 19 million and increased 10 percent q-o-q from Rs 34 million.
GTPL Broadband subscriber base increased to 0.25 million in Q1-18 as compared to 0.19 million in Q1-17 and 0.24 million in Q4-17. Broadband ARPU increased to Rs 486 in Q1-18 as compared to Rs 455 in the corresponding year ago quarter Rs 480 in the immediate trailing quarter.
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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.
