Cable TV
Q3-2015: Den Network reports 18 per cent y-o-y growth in cable subscription revenue
BENGALURU: Den Networks Ltd’s (Den Networks) cable business subscription revenues net off LCO share grew 18 per cent, up 11 per cent y-o-y to Rs 116 crore in the current quarter from Rs 97 crore in Q3-2014 and its cable business operation margin was maintained at 19 per cent q-o-q.
Den added 1,97,000 set top boxes (STB) in Q3-2015, taking the total STBs deployed to approximately 68 lakh. The company said that its current digital subscriber base in phase 1 and 2 is approximately 50 lakh. Digital subscribers are expected to increase significantly with acceleration in non-DAS market informs the company.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Den Networks TIO at Rs 269.82 crore in Q3-2015 fell two per cent from Rs 274.26 in Q3-2014 and fell 7.9 per cent from Rs 291.72 crore in the preceding quarter. However, TIO in 9M-2015 at Rs 859.34 crore was 5.5 per cent more than the Rs 814.83 crore in HY-2014.
Den Networks recently launched its high speed broadband service, which is gaining great traction having achieved an average ARPU of Rs 740 per month in Q2-2015. This quarter, Den says that ARPU has improved to Rs 748 per month.
The company also says that its joint venture (JV) with Snapdeal.com has been received extremely well. Within the first month, Den Network claimed in Q2-2015 that the company has clocked an annualised Gross Merchandise Value (GMV) in excess of Rs 50 crore based on the annualised latest daily run rate and was expected to scale significantly as the channel gets distributed across networks. For Q3-2015, the company says that the market place based model now reaches 1.9 crore homes clocking Gross Merchandise Value (GMV) of Rs 100 crore.
Let us look at the other numbers reported by Den Networks:
Total expense (TE) in Q3-2015 at Rs 316.75 crore (117.8 per cent of TIO) was 32.7 per cent more than the Rs 238.63 crore (87 per cent of TIO) in Q3-2014 and was 6.4 per cent more than the Rs 297.81 crore (102.1 per cent of TIO) in Q2-2015. In 9M-2015, TE at Rs 899.48 crore (104.7 per cent of TIO) was 29.8 per cent more than the Rs 692.75 crore (85 per cent of TIO) in 9M-2014.
The company’s content cost in Q3-2015 at Rs 1100.96 crore (40.9 per cent of TIO) was 15.5 per cent more than the Rs 95.33 crore (34.8 per cent of TIO) in Q3-2014 and was 1.1 per cent more than the Rs 108.91 crore (37.3 per cent of TIO) in the immediate trailing quarter. For 9M-2015, content cost at Rs 325.39 crore (37.9 per cent of TIO) was 20.1 per cent more than the Rs 270.88 crore (33.2 per cent of TIO) in 9M-2014.
Den’s placement fee in Q3-2015 at Rs 8.86 crore was 76.1 per cent more than the Rs 5.03 crore in Q3-2014 and 57.4 per cent more than the Rs 5.63 crore in Q2-2015. 9M-2015 placement fee at Rs 19.81 crore was 19.1 per cent more than the Rs 16.64 crore in 9M-2014.
Den’s other expense in Q3-2015 increased 68.6 per cent to Rs 123.32 crore (45.9 per cent of TIO) from Rs 73.15 crore (26.7 per cent of TIO) in the corresponding year ago quarter and was 45.9 per cent more than the Rs 78.61 crore (26.9 per cent of TIO) in the preceding quarter. For 9M-2014, other expense at Rs 272.40 crore (31.7 per cent of TIO) was 27.6 per cent more than the Rs 213.51 crore (26.2 per cent of TIO) in 9M-2014.
Den’s EBIDTA (without considering other income) in Q3-2015 fell to just Rs 0.28 crore as compared to the EBIDTA of Rs 72.26 crore (26.3 per cent of TIO) in Q3-2014 and the Q2-2015 EBIDTA of Rs 40.94 crore (14 per cent of TIO). EBIDTA for 9M-2015 fell by 2.33 times to Rs 98.38 crore (11.4 per cent of IO) from Rs 228.98 crore in 9M-2014.
Other Income for the periods under consideration is as follows: Q3-2015 – Rs 23.94 crore; Q2-2015 – Rs 22.47 crore; Q3-2014 – Rs 22.98 crore; 9M-2015 Rs 64.96 crore; 9M-2014 – Rs 34.42 crore.
The company reported a loss of Rs 62.60 crore in Q3-2015 as against a profit after tax (PAT) of Rs 16.08 crore. The loss in the current quarter was more than thrice the loss of Rs 20.45 crore reported for Q2-2015. The company reported loss of Rs 81.93 crore in 9M-2015 as compared to a PAT of Rs 28.35 crore in 9M-2014.
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.
