Cable TV
Topline improves for Hathway in Q1-2017, but bottomline impacted
MUMBAI: The slow progress of DAS is continuing to prove painful for multisystem operator Hathway Cable & Datacom. Especially if one goes by the results it has reported for Q1 FY 2017 ended 30 June 2016.
Ballooning pay channel costs of Rs 102.05 crore, service charges of Rs 34.59 crore, depreciation and amortization expenses of Rs 70.37 crore and higher employee benefit expenses of Rs 22.72 crore have resulted in it reporting an operating loss of Rs 25.88 crore. The comparative figures for the previous corresponding quarter were Rs 78.56 crore, Rs 25.94 crore, Rs 59.19 crore Rs17.60 crore had dragged its bottomline down to the tune of Rs 18.11 crore.
Its topline, has however, shown some healthy improvement at Rs 301 crore in Q1 2017 as against Rs 257.44 crore in Q1 2016.
Its finance costs seem to have risen too at Rs 29.75 crore as against Rs 21.36 crore in the previous corresponding quarter of FY 2016. The outcome: its net loss has shot up to Rs 52.86 crore as against Rs 36.99 crore.
The company says that the hold up of the DAS Phase III rollout has impacted its monetization of the infrastructure investments it had made in some of the cities which came under those areas in preparation of the deadline of 31 December 2015.
Hathway has also stated that it is facing resistance from cable operators who are refusing to sign inter-connect agreements despite orders from the Telecom Regulatory Authority to do so in notified cities.
The company has got board approval to transfer its broadband business to a wholly owned subsidiary Hathway Broadband Pvt Ltd (HBPL) as of 1 April 2015. But this will be dependent on approval from the shareholders, and permission from the Bombay High Court and department of telecommunications (DoT). It says it has got approvals from the relevant stock exchanges, and it has approached the Bombay High Court.
Until it gets the approval, Hathway Cable will continue to operate the broadband business on behalf of HBPL and will receive a payment of Rs 98.05 crore in cash but the amount will not be reflected in its financial statements, the company stated.
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.
