Cable TV
Q2-2016: Hathway brodband revenues rise 58 per cent; overall revenues up 4 per cent Y-on-Yercen
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) has reported a four per cent YoY growth in standalone Total Income from Operations (TIO) in Q2-2016 (quarter ended 30 September, 2015, current quarter) at Rs 270.03 crore as compared to Rs 263.51 crore and 3.6 per cent QoQ revenue growth from Rs 264.41 crore in Q1-2016.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Its focus on broadband appears to be yielding dividends. Its broadband revenues of Rs 71.9 crore in the current quarter were 58.4 percent higher YoY than the Rs 45.4 crore, and 10.4 percent more than the Rs 65.1 crore in the immediate trailing quarter.
The company says that its broadband subscription base crossed 515,000 subscribers with 200,000 DOCSIS 3.0 subscribers. The company said that it had added 50,000 broadband subscribers in Q1-2016, and claimed a broadband subscriber base of 4.6 lakh, of which 1.7 lakh were under Docsis 3.0 then. Hathway says that its broadband ARPU increased 6.8 percent QoQ to Rs 616 from Rs 577.
The company’s EBIDTA (excluding other income) in Q2-2016 declined 13 per cent YoY to Rs 34.39 crore (12.5 per cent margin), from 39.52 crore (9.9 per cent margin) but increased 5.1 per cent from Rs 32.73 crore (12.8 per cent margin) in the immediate trailing quarter.
Hathway’s loss in the current quarter widened to Rs 48.94 crore as compared to Rs 39.26 crore in Q2-2015 and a loss of Rs 43.91 crore in Q1-2016.
Subscription numbers
Hathway’s television subscription revenue in Q2-2016 declined 3.2 percent YoY to Rs 107.5 crore as compared Rs 111 crore, but grew 1.9 percent QoQ from Rs 105.5 crore. The company says that it has seeded 77,000 set top boxes in this quarter and its digital subscriber base is 87 lakh or 72.5 percent of its total cable TV subscriber base of 120 lakh.
Hathway reported Phase I ARPU at Rs. 100 (net of tax) and Phase II ARPU at Rs 76 (net of tax) in the current quarter as compared to Rs 76 (net of tax) in Q1-2016.
Placement revenue in the current quarter increased 2.9 percent YoY to Rs 84.8 crore from Rs 82.4 crore and increased 1.2 percent QoQ from Rs 83.8 crore.
Activation Revenue in Q2-2016 reduced to a little more than a fifth (1/4.7 times) at Rs 4.7 crore as compared to the Rs 22.1 crore in Q2-2015 and declined 14.5 percent QoQ from Rs 5.5 crore.
Let us look at the other numbers reported by Hathway
Hathway’s standalone Total Expenditure in Q2-2016 increased 9.9 percent to Rs 301.40 crore (110 percent of TIO) as compared to Rs 274.27 crore (104 percent of TIO in Q2-2015) and rose 3.6 percent from Rs 290.87 crore (110 percent of TIO in Q1-2016).
Standalone Pay Channel cost in Q2-2016 increased 1.5 percent to Rs 98.27 crore as compared to Rs 96.81 crore (36.7 percent of TIO) and was 5.3 percent more than the Rs 93.32 crore (35.3 percent of TIO) in Q1-2016.
Employee Benefit Expense in Q2-2016 increased 11.2 percent YoY to Rs 17.83 crore as compared to Rs 16.03 crore and increased 5.3 percent from Rs 17.21 crore in Q1-2016.
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.
