Cable TV
Restructuring brings Hathway to black in first quarter
BENGALURU: Restructuring at Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) has brought for it a positive bottomline. The pared company reported a profit of Rs 27.16 million (including an exceptional item –gain from the sale of shares of Rs 17.13 million) or 21 per cent of total income for the quarter ended 30 June 2017 (Q1-18, current quarter). Even if one were to neglect the exceptional income during the quarter, profit of Rs 101.3 million works out to about eight per cent of total income. The numbers above basically represent the numbers that Hathway has reported from its broadband business.
The Hathway group structure can be divided into three – Broadband business, CATV business which includes joint ventures, associates and subsidiaries and GTPL Hathway in which it has 37 per cent shareholding. The broadband business is managed by the parent company while the CATV business is managed by wholly owned subsidiary Hathway Digital Private Limited (HDPL).
Hathway has reported higher y-o-y average revenue per broadband user (ARPU) at Rs 730 as compared to Rs 724 in Q1-17, but lower than the Rs 740 reported for the immediate trailing quarter (Q4-17). The company says that it has added 30,000 broadband subscribers in Q1-17, bringing its broadband subscriber base to 0.66 million.
For its CATV business, the company says that it has seeded about 0.25 million set top boxes (STB) in Q1-18, bringing its digital CATV subscriber base to 7.2 million, or approximately 96 per cent of its overall subscriber base. It says that it has seeded 1.6 million, 2.3 million and 3.3 million in DAS phases I, II and III & IV respectively. ARPUs’ in Q1-18 were Rs 105, Rs 95 and Rs 55 for DAS phases I, II and III, respectively.
Broadband business
Hathway has reported standalone total income of Rs 1,295.7 million for Q1-18 (from its broadband business). Total expenditure in Q1-18 was Rs 1,195.4 million or 92.3 per cent of total income. Employee benefits expense for the quarter was Rs 89 million (6.9 per cent of total income), other operating expenses was Rs 307.9 million (23.8 per cent of total income) and other expenses was Rs 401.7 million (31 per cent of total income). EBIDTA for broadband business was Rs 497.1 million (38.4 per cent of total income).
CATV business excluding GTPL Hathway business
For HDPL, Hathway has mentioned total income of Rs 2,365 million for Q1-18 in investor presentation. The breakup of total income is Rs 1,325 million from cable TV subscription, Rs 702 million from placement, Rs 242 million from activation and other operating income of Rs 96 million. Total expenditure in Q1-18 has been reported at Rs 2,093 million (88.5 per cent of DHPL total revenue). Major expense heads include pay channel cost (57.2 percent of HDPL total revenue), employee cost Rs 214 million (9 per cent of HDPL total revenue), other expense Rs 527 million (22.3 per cent of HDPL total revenue). Finance costs for Q1-18 for HDPL was Rs 162 million (6.8 per cent of HDPL total revenue). The company has reported HDPL EBIDTA of Rs 272 million (11.5 per cent of HDPL total revenue).
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.
