Cable TV
Cable business drives Hathway’s return to profitability
BENGALURU: Mukesh Ambani’s Reliance Industries Limited-owned Indian multi-system operator and internet services provider Hathway Cable and Datacom Limited (Hathway) reported consolidated profit after tax (PAT) of Rs 105.47 crore for the year ended 31 March 2020 (FY 2020, year under review) as compared to a loss of Rs 187.67 crore for FY 2019. The company’s cable division reported a consolidated operating profit of Rs 84.77 crore and operating revenue of Rs 1,230.71 crore as compared to a consolidated operating loss of Rs 457.46 crore on operating revenue of Rs 1,030.66 crore in FY 2019. Cable business revenue for the year under review grew 19.4 per cent as compared to FY 2019.
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The other business of Hathway – broadband internet services saw operating revenue grow 7.6 per cent in FY 2020 to Rs 567.59 crore from Rs 527.63 crore in the previous year. The internet services business incurred an operating loss of Rs 20.54 crore in FY 2020 as compared to an operating profit of Rs 42.01 crore in FT 2019.
Hathway’s consolidated operating revenue in FY 2020 grew 15.4 per cent to Rs 1,798.39 crore from Rs 1,558.29 crore in FY 2019. Consolidated total income for the year grew 26.2 per cent to Rs 2044.14 crore from Rs 1,619.20 crore in the previous year.
For the quarter ended 31 March 2020 (Q4 2020, quarter under review), Hathway reported consolidated operating revenue of Rs 455.68 crore, which was 19.6 per cent more than the Rs 381.04 crore in the corresponding quarter of the previous year Q4 2019 (Y-o-Y). Consolidated PAT for the quarter under review grew more than sevenfold (up 642.5 per cent) in Q4 2020 Y-o-Y to Rs 49.08 crore from Rs 6.61 crore.
Cable business operating revenue for Q4 2020 increased 22.4 per cent to Rs 304.36 crore Y-o-Y from Rs 248.61 crore. Hathway reported operating profit of Rs 39.04 crore as compared to an operating loss of Rs 333.89 crore for Q4 2019. Internet services business revenue for the quarter under review grew 14.3 per cent Y-o-Y to Rs 151.32 crore from Rs 132.43 crore. Internet services business saw an operating profit of Rs 1.24 crore in Q4 2020 as compared to an operating loss of Rs 18.11 crore in Q4 2019.
Let us look at the other numbers reported by the company
All numbers in this report are consolidated unless stated otherwise.
Total expenditure in FY 2020 grew 7.6 per cent to Rs 1,960.53 crore from Rs 1,822.72 crore in the previous year. Pay channel cost during the year under review declined 8.1 per cent to Rs 560.56 crore from Rs 609.85 crore. Employee cost in FY 2020 grew 14.4 per cent to Rs 94.79 crore from Rs 82.86 crore. Other operational expenses in FY 2020 grew 21.1 per cent to Rs 306.62 crore from Rs 253.30 crore. Finance cost grew 2.5 per cent to Rs 226.37 crore from Rs 220.80 crore. Other expenses in FY 2020 grew 32.2 per cent to Rs 401.09 crore from Rs 303.50.
Total expenditure in Q4 2020 grew 5.2 per cent Y-o-Y to Rs 458.53 crore from Rs 435.97 crore. Pay channel cost during the period under review increased 16.25 per cent Y-o-Y to Rs 152.70 crore from Rs 131.41 crore. Employee cost in Q4 2020 reduced 3.1 per cent Y-o-Y to Rs 21.53 crore from Rs 22.22 crore. Other operational expenses in Q4 2020 grew 20.4 per cent Y-o-Y to Rs 79.72 crore from Rs 66/23 crore. Finance cost declined 22.1 per cent Y-o-Y to Rs 43.13 crore from Rs 55.38 crore. Other expenses in Q4 2020 grew 5.5 per cent Y-o-Y to Rs 81.70 crore from Rs 77.45 crore.
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.
