Cable TV
Q3-2016: Den revenue up 31%, reports operating profit of Rs 43 crore
BENGALURU: Den Networks Ltd reported 31 per cent YoY growth in consolidated Total Income from operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 352.18 crore as compared to Rs 268.81 crore. TIO increased 29.8 per cent QoQ as compared to Rs 271.29 crore. The company reported EBIDTA of Rs 42.99 crore (12.2 per cent margin) in the current quarter as compared to an operating profit of Rs 0.28 crore (0.1 per cent margin) in Q3-2015 and an operating loss of Rs 11.27 crore in the immediate trailing quarter.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Den reported a lower YoY and QoQ consolidated loss of Rs 48.37 crore in the current quarter as compared to a loss of Rs 62.60 crore in Q3-2015 and a loss of Rs 75.23 crore in the immediate trailing quarter.
Segment Revenue
Three segments contribute to Den’s revenue: Cable distribution network segment (Cable); Broadband segment and Soccer segment
Cable segment reported 26.3 per cent YoY revenue growth at Rs 326.43 crore as compared to Rs 258.55 crore and 24.1 per cent QoQ growth as compared to Rs 263.06 crore. The cable segment reported an operating profit of Rs 32.64 crore, an operating loss of Rs 0.35 crore in Q3-2015 and an operating loss of Rs 32.11 crore in the immediate trailing quarter.
The company’s broadband segment revenue increased by over five times YoY (5.5 times) at Rs 11.96 crore (3.4 per cent of TIO) as compared to Rs 2.17 crore (0.8 per cent of TIO) and increased 58 per cent QoQ as compared to Rs 8.23 crore (three per cent of TIO). The segment’s YoY operating loss increased to Rs 19.57 crore as compared to Rs 12.37 crore, but reduced QoQ as compared to Rs 23.07 crore.
Den’s Soccer segment reported revenue of Rs 13.97 crore as compared to Rs 8.09 crore in Q3-2015 and nil revenue in Q2-2016. Soccer segment reported lower YoY operating loss of Rs 26.11 crore as compared to Rs 35.21 crore, but higher QoQ than the Rs 8.57 crore.
Den’s Total Expenditure in the current quarter increased 15.3 per cent YoY to Rs 365.23 crore (103.7 per cent of TIO) as compared to Rs 316.74 crore (117.8 per cent of TIO) and increased nine per cent QoQ as compared to Rs 335.04 crore (123.5 per cent).
Content cost in Q3-2016 increased 19.9 per cent YoY to Rs 131.94 crore (37.5 per cent of TIO) as compared to Rs 110.06 crore (40.9 per cent of TIO), but reduced 3.5 per cent YoY as compared to Rs 136.77 crore (50.4 per cent of TIO).
Finance costs in the current quarter reduced 15.7 per cent YoY to Rs 19.73 crore (5.6 per cent of TIO) as compared to Rs 23.41 crore (8.7 per cent of TIO) and reduced 7.2 per cent QoQ as compared to Rs 21.25 crore (7.8 per cent of TIO).
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.
