Cable TV
Q1-17: Siti revenue, EBIDTA up
BENGALURU: The Dr Subhash Chandra led newly renamed Siti Networks Limited (Siti) formerly known as Siti Cable Network Limited, reported 22.7 percent and 28.7 year-over-year growth in operating revenue and EBIDTA for the quarter ended 30 June 2106 (Q1-17, current quarter). Siti’s revenue in the current quarter was Rs 281.97 crore as compared to Rs 229.72 crore in the corresponding year ago quarter. EBIDTA (including other income) in Q1-17 was Rs 47.41 crore (16.8 percent margin) versus Rs 36.84 crore (16 percent margin). Loss however was higher in Q1-17 at Rs 52.61 crore as opposed to a loss of Rs 36.68 crore in Q1-16.
The company says that its digital subscriber base has grown to 84 lakh during the current quarter from 79 lakh in the immediate trailing quarter. For Q1-16, the company had reported a digital subscriber base of 55.80 lakh. It says that it has expanded its footprint to 387 cities across the country in Q1-17 as compared to 312 cities at the end of the immediate trailing quarter. Broadband subscriber base has increased quarter-over-quarter in Q1-17 to 1.67 lakh from 1.32 lakh in Q4-16. HD Services: Siti says that it has strengthened its SITI HD+ services by expanding its bouquet to 57 HD channels. SITI HD+ customer base increased 65,140, up 29.8 percent over Q4-16 (50,170).
Let us look at the other numbers reported by the company for Q1-17
Subscription revenue in the current quarter increased 8 percent in Q1-17 y-o-y to Rs 139.3 crore from Rs 129 crore. Carriage revenue declined slightly to Rs 72 crore from Rs 79 crore, while activation charges almost tripled (2.93 times) to Rs 36.6 crore from Rs 12.5 crore. Broadband revenue more than doubled in the current quarter to Rs 19.5 crore from Rs 9 crore in Q1-16.
Other Income more than doubled to Rs 4.92 crore in Q1-17 from Rs 2.44 crore in Q1-16. Finance costs in the current quarter reduced to Rs 29.67 crore from Rs 34.39 crore in the corresponding year ago quarter. Total Expenditure increased to Rs 294.20 crore from Rs 231.16 crore in the corresponding year ago quarter. Employee Benefit Expense increased to Rs 19.12 crore in the current quarter from Rs 13.33 crore in Q1-16. Carriage sharing, pay channel and related costs in Q1-17 increased to Rs 148.44 crore from Rs 135.70 crore in Q1-16.
Company speak
Siti executive director & CEO, V D Wadhwa said, “We expanded our reach further by branching out to 387 cities in line with our strategy of select market expansion. We have established our broadband presence in Haryana and expect to significantly expand our subscriber base this year.
Recurring cash flows were sluggish due to delays in Phase 3 monetization on account of legal bottlenecks. However, we expect a time bound resolution by the second half of the year and limited long term impact of this issue. We are well prepared for improved monetization of our subscriber base.”
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.
