Cable TV
Q1-17: Den Networks reports higher standalone revenue, operating profits
BENGALURU: Multiple-systems operator Den Networks Limited (Den) reported 21.2 percent increase in standalone Total Income from operations (TIO) for the quarter ended June 30, 2016 (Q1-17, current quarter) as compared to the corresponding year ago quarter (Q1-16). The company also reported a standalone operating profit (EBIDTA) of Rs 4.58 crore (1.9 percent margin) in the current quarter as opposed to a standalone operating loss (negative EBIDTA) of Rs 26.44 crore. Den’s standalone TIO for the current quarter was Rs 238.67 crore as compared to Rs 196.89 crore. EBIDTA including other income was Rs 15.45 crore (6.2 percent margin) in Q1-17 as opposed to an operating loss (including other income) of Rs 6.01 crore in Q1-17.
However the company reported higher standalone losses for the current quarter as compared to the corresponding year ago quarter. Net loss after tax (PAT) increased to Rs 57.40 crore in Q1-17 as compared to loss of Rs 53.49 crore in Q1-16. Standalone Total Comprehensive Income (TCI) was lower at a negative Rs 56.93 crore in Q1-17 as compared a negative Rs 51.74 crore in Q1-16.
Segment numbers
The company has two operating segments – Cable Distribution Network (Cable) and Broadband. Both segments reported improved operating numbers.
Cable segment reported 15.1 percent growth in standalone operating revenue in Q1-17 at Rs 220.88 crore as compared to Rs 191.87 crore in Q1-16. Standalone operating loss in the current quarter was lower at Rs 31.19 crore as compared to a standalone operating loss of Rs 37.29 core in Q1-16.
Broadband segment standalone revenue more than tripled (over 3.5 times) in the current quarter to Rs 17.79 crore as compared to Rs 5.02 crore in Q1-16. The segment reported lower standalone operating loss in Q1-17 of Rs 14.26 crore as compared to an operating loss of Rs 19.24 crore in the corresponding year ago quarter.
Let us look at the other numbers reported by Den
Standalone Total Expenditure in the current quarter was 12.1 percent higher at Rs 284.12 crore (119 percent of TIO) as compared Rs 253.43 crore (128.7 percent of TIO) in Q1-16.
As percentage of TIO, Total expenditure in the current quarter was lower as compared to Q1-16. Most major standalone cost heads decreased in the current quarter as compared to the corresponding year ago quarter except for Content Costs, Other Expenses and Depreciation and Amortisation and hence wiped away the increase in TIO and resulted in higher loss. Other factors that contributed to higher loss were lower Other Income and higher Finance costs in Q1-17.
As mentioned above, a major cost head for Den is Content Costs which increased by a massive Rs 30.70 crore or 35 percent to Rs 107.28 crore (44.9 percent of TIO) in Q1-17 from Rs 79.47 crore (40.4 percent of TIO). Standalone
Other Expenses increased 5.4 percent in the current quarter to Rs 62 crore (26 percent of TIO) as compared to Rs 58.84 crore (29.9 percent of TIO) in Q1-16.
Standalone Placement fees declined 21.8 percent in the current quarter to Rs 43.69 crore (18.3 percent of TIO) as compared to Rs 55.89 crore (28.4 percent of TIO).
Standalone Employee benefits expense in Q1-17 declined 14.3 percent to Rs 19.57 crore (8.2 percent of TIO) as compared to Rs 22.83 crore (11.6 percent of TIO) in Q1-16.
Standalone Finance costs in the current quarter increased 31.2 percent to Rs 22.82 crore (9.6 percent of TIO) as compared to Rs 17.39 crore (8.8 percent of TIO) in Q1-16.
Standalone Other Income in Q1-17 was almost half (declined 46.8 percent) to Rs10.87 crore as compared to Rs 20.43 crore in Q1-16.
Note: (1) All numbers mentioned in this report are standalone unless stated otherwise.
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.
