Cable TV
Den Networks Q1 profit jumps 41 per cent to Rs 508 million despite flat sales
MUMBAI: Den Networks may have seen revenues tread water this quarter, but profits took the express lane. Den Networks has posted a standalone profit after tax (PAT) of Rs 508.2 million for the quarter ended 30 June 2025, marking a 41 per cent year-on-year jump from Rs 359.3 million in the same period last year even as total revenue growth stayed modest at just 6 per cent.
According to the company’s unaudited financials approved by the board of directors on 14 July 2025, total income for the quarter stood at Rs 3,150.8 million, up from Rs 2,959.6 million in Q1 FY24. This includes revenue from operations at Rs 2,456.1 million and other income largely investment returns at Rs 694.8 million.
Cost-consciousness appears to have paid off. Total expenses declined 3.5 per cent sequentially to Rs 2,566.1 million. Notably, Den reduced its placement fees from Rs 484.1 million in Q4 FY25 to Rs 361.3 million this quarter. Content costs held steady at Rs 1,487.9 million.
While finance costs remained negligible at Rs 5.5 million, a sharper tax outgo up 113 per cent year-on-year to Rs 76.6 million chipped at the bottom line, although it didn’t stop PAT from soaring past Rs 500 million. Earnings per share (EPS) came in at Rs 1.07, up from Rs 0.75 in Q1 FY24.
Den’s consolidated results which include its 24 subsidiaries and five associate entities also painted a strong picture. Consolidated PAT stood at Rs 536.4 million, while total income was pegged at Rs 3,119.5 million. The group’s broadband business, however, saw a dip in revenue to Rs 104.6 million from Rs 121.2 million a year ago.
The cable distribution segment continues to be the mainstay, accounting for Rs 2,353.1 million of gross revenue this quarter. Interestingly, other income (largely interest and investment income) surpassed Rs 700 million on the consolidated books, nearly 23 per cent of total income.
Even as broadband and cable network operations posted minor operating losses, the group’s strong treasury returns and cost containment measures seem to have steadied the ship.
Den Networks, now a part of the Reliance Industries-backed media ecosystem, continues to operate with healthy cash reserves. As of June 30, 2025, total consolidated assets stood at Rs 42,246.3 million, up from Rs 40,084.5 million in Q1 FY24, signalling long-term stability despite a flattish top line.
For now, while India’s cable industry battles disruption from OTT and broadband wars, Den’s Q1 scorecard shows that fiscal discipline and high-yield investments can still keep the books in the black.
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.
