Cable TV
Q3-2015: Siti Cable reports 26% y-o-y revenue growth; Cable segment grows 34%
BENGALURU: Essel group’s Subhash Chandra led Siti Cable Network Limited (Siti Cable) reported a 26.1 per cent rise in Total Income from Operations (TIO) to Rs 223.4 crore in Q3-2015 from Rs 177.3 crore in the corresponding year ago quarter and was almost flat (down 0.3 per cent) as compared to the Rs 223.8 crore in Q2-2015.
Revenue from Siti Cable’s Cable segment grew 34.3 per cent y-o-y in Q3-2015 to Rs 209.5 crore from Rs 156 crore in Q3-2015 and remained almost flat (reduced by 0.5 per cent) as compared to the Rs 210.6 crore in Q2-2015.
Revenue from Siti Cable’s broadband segment grew 61 per cent to Rs 7 crore in Q3-2015 from Rs 4.3 crore in the corresponding quarter of last year and grew 13 per cent from Rs 6.2 crore in Q2-2015.
The company’s EBIDTA in the current quarter grew 43.1 per cent to Rs 50.1 crore from Rs 35 crore in Q3-2014 and 9.4 per cent from Rs 45.8 crore in Q2-2015.
Subscription numbers
The company’s cable subscription universe grew to 1.05 crore in the current quarter from 1 crore in the previous quarter. Digital subscription base grew to 0.485 crore in Q3-2015 from 0.46 crore in Q2-2015. Siti Cable added 3 lakh digital subscribers in Q3-2015 as compared to the 2.5 lakh digital subscribers in Q2-2015. It reported 54000 subscribers in Q3-2015 as compared to the 48000 subscribers in Q2-2015.
“Siti Cable Network is fully geared to provide the benefits of digitization to the Indian subscriber. The company continues to provide leadership in the areas of best practices, systems implementation and compliances. Although some minor challenges remain, the company is leading the industry on a new and evolved growth trajectory,” said Siti Cable chairman Dr. Subhash Chandra.
“Siti Cable maintained its growth momentum in the third quarter as well while improving EBITDA Margin from 20.5 percent to 22.4 percent q-o-q. Last mile operators have realized that digitization is a reality now. We see less resistance towards digitization from the LCOs in phase 3 and 4 towns. In fact they see digital cable STB as an opportunity towards offering more channels, better services to their consumers and realising better revenues from their existing customer base. It also helps them in retaining their customer, who would otherwise move to competing technology like DTH for want of better quality services”, said Siti Cable executive director and CEO said V D Wadhwa.
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.
