Cable TV
Hathway revenue and operating profit up in third quarter
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 25.5 per cent growth in Total Income from operations (TIO) and 46 percent growth in operating profits (EBIDTA) for the quarter ended 31 December 2016 (Q3-17, current quarter). The company reported TIO of Rs 337.6 crore in Q3-17 as compared to Rs 281.2 crore in the corresponding quarter of the previous year.
The company’s EBDITA (earnings before depreciation, interest, taxes and amortisation or operating profit) including other income in the current quarter was Rs 66.6 crore (20 percent EBIDTA margin) and was Rs 45.4 crore (16 percent EBIDTA margin) in Q3-16. The company’s loss as per IND-AS in the current quarter increased to Rs 44.4 crore from a loss of Rs 41.2 crore in Q3-16.
Hathway reported high growth in Cable subscription revenue, Activation fees and Broadband revenue, while placement revenue declined. 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. Like in the immediate trailing quarter, within Hathway, in Q3-17, Broadband subscription had the highest contribution to revenue, even more than Cable TV subscription revenue
Hathway’s broadband subscriber base increased by 0.4 lakh in Q3-17 to 8.6 lakh from 8.2 lakh in the immediate trailing quarter. Consolidated broadband revenue in the current quarter as per IND AS increased 62 percent to Rs 127.8 crore from Rs 78.7 crore in the previous year. Consolidated Broadband ARPU in Q3-17 was Rs 654 as compared to Rs 631 in Q3-16 and Rs 643 in the immediate trailing quarter.
Reported CATV subscription revenue as per IND AS in the current quarter increased 17 percent to Rs 114.1 crore from Rs 97.7crore in Q3-16 Hathway says that it has deployed 4 lakh STBs at a consolidated level. Standalone CATV ARPU in DAS Phase I was Rs 105, in Phase II areas was Rs 95. ARPU from phase III areas was Rs 45.
Placement revenue as per IND AS in the current quarter declined 14 percent to Rs 70.4 crore from Rs 82.2 crore in Q3-16.
Activation revenue as per IND AS increased 49 percent y-o-y in Q3-17 to Rs 21 crore from Rs 115 crore in Q3-16.
Other revenue as per IND AS declined 43 percent in Q3-17 to Rs 4.3 crore from Rs 7.6 in Q3-16.
Hathway’s Standalone Total Expenditure (without depreciation and amortization) in Q3-17 increased 14 percent to Rs 27.52 crore from Rs 239.4 crore in the previous year.
Standalone Pay channel cost in the current quarter increased 10 percent to Rs 104.3 crore from Rs 94.5 crore in Q3-16. Standalone Employee Benefit expense in Q3-17 increased 19 percent y-o-y to Rs 23.3 crore from Rs 19.6 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.
