Cable TV
Nxtdigital records revenue of Rs 1152.19 crore for FY22
Mumbai: Nxtdigital Ltd on Wednesday announced the results for financial year 2022. The media and communications company recorded revenue of Rs 1,152.19 crore for the year ending 31 March, registering a growth of 14.3 per cent year-on-year.
The company clocked earnings before interest, depreciation, and taxes (EBIDTA) of Rs 256.22 crore registering a growth of 10.4 per cent YoY. The revenue and EBIDTA for the year include Rs 69.30 crore and Rs 43.88 crore, respectively, arising out of the ‘real estate’ segment of the company.
The consolidated profit after tax for the year is Rs 1.91 crore as against a loss Rs 13.90 crore in the previous year.
The company posted consolidated revenue of Rs 344.55 crore in the fourth quarter ended 31 March. It clocked an EBIDTA of Rs 100.41 crore. Revenue and EBIDTA for the quarter include Rs 69.30 crore and Rs 43.88 crore respectively arising out of the ‘real estate’ segment of the company.
The media and entertainment segment recorded an EBIDTA of Rs 56.53 crore for the quarter. The consolidated PAT for the quarter stood at Rs 84.46 crore. PAT for the quarter is inclusive of the profit from ‘real estate’ segment of the company.
“We have remained singularly focused on the changing consumer preferences, in no small measure impacted by the lockdown periods; and have accelerated our digital transformation in line with the same,” said Nxtdigital managing director and CEO Vynsley Fernandes. “Our performance across all segments of our business reflects that mission. Offering a “combo” of digital television, broadband and OTT is now our norm, rather than the exception; whilst we will continue to expand our footprint through the launch of more Nxthubs.”
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.
