Cable TV
Siti revenue up across all streams
BENGALURU: Siti Networks Limited (Siti) reported 4.4 percent growth in revenue for the year ended 31 March 2017 (FY-17, current year or fiscal) as compared to the previous fiscal. Consolidated revenue growth was driven by revenue growth in all the streams that contribute to Siti’s numbers. The company in its earnings release says that its broadband internet services revenue doubled to Rs 970 million, Subscription revenues grew 39 percent to Rs 5,690 million and Carriage revenues increased 17 percent to Rs 3,000 million in the current year vis-à-vis the previous year.
Overall, Siti reported consolidated total income of Rs 12,208.01 million and Rs 11,691.56 million in the current and previous years respectively. Operating revenue in FY-17 grew 4.3 percent to Rs11,949.16 million from Rs 11,460.40 million in FY-16.
The company says that it deployed more than 2.1 million set top boxes during the year despite the delay in implementation of phase 3 digitization due to litigation. It says that its digital video base was about 10 million at the exit of March 2017. Siti says that during the year 0.11 million of its customers adopted HD services taking the total HD customer base to 0.16 million by exit FY-17.
Siti has bolstered its local channels content with tie-ups with Eros, Ultra, Cineprime, ADB Mobile and Entertainment and now has a portfolio of 130 plus local channels on a pan-India basis. It is also looking to add 7 to 8 new local channels for its North India viewers under certain genres and languages.
The company says that Siti-Ditto OTT services grew strongly with the addition of 29,000 customers during the quarter – 1 January to 31 March 2017, taking the total customer base to 60,000.
The company’s bottom line however showed some declines. Consolidated loss was higher at Rs 1,792.31 million in the current year as compared to a loss of Rs 412.91 million in the previous year. Consolidated EBIDTA including other revenue in fiscal 2017 at Rs 2,286.94 million (19.1 percent of Total Income) declined 15 percent from Rs 2,690.57 million (23.5 percent of Total Revenue).
Company speak
Siti executive director and CEO V D Wadhwa said: “Our tenacious execution has ensured stellar growth in our video revenue whereas broadband growth is falling short of our expectations. The management is highly committed towards improving monetization and operating profit across all phases, during the current year. We are well positioned to reap the benefits of improved monetization across phases as we simultaneously continue to expand our Broadband reach. The implementation of GST is expected to simplify the collection process, bring in greater transparency and will provide a boost to the growth of the sector.”
Let us look at the other numbers reported by Siti
Consolidated Total Expenditure increased 6.4 percent y-o-y to Rs 13,607.36 million (111.5 percent of Total Income) in FY-17 from Rs 12,054.82 million (103.1 percent of Total Income) in FY-16
Consolidated Employee Benefit Expense increased 32 percent to Rs 832.90 million (6.8 percent of Total Income) in the current quarter from Rs 630.90 million (5.4 percent of Total Income) million in FY-16.
Consolidated Carriage sharing, pay channel and related costs in FY-17 increased 5 percent to Rs 5,971.33 million (48.9 percent of Total Income) from Rs 5,686.36 million (48.6 percent of Total Income) in the previous year.
Consolidated Finance costs in the current year reduced 8.9 percent to Rs 1274.47 million (10.4 percent of Total Income) from Rs 1,399.29 million (12 percent of Total Income).
Consolidated Other expenses increased 28.4 percent to Rs 2,954.67 million (24.2 percent of Total Income) in FY-17 from Rs 2,302.03 million (19.7 percent of Total Income) in FY-16.
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.
