Cable TV
Den Networks reports higher profits despite lower revenue in Q1-2021
BENGALURU: Indian cable TV and broadband services provider Den Networks Ltd (Den) reported 3.8 percent lower consolidated revenue for the quarter ended 30 June 2020 (Q1 2021, quarter or period under review) as compared to the corresponding year ago quarter (Q1 2020). Consolidated operating profit (simple EBITDA) for the period under review increased 55.2 percent in Q1 2021 as compared to Q1 2020. The company’s profit after tax (PAT) more than quadrupled (increased by 308 percent) y-o-y in Q1 2021. The company has pared its expenses in Q1 2021 as compared to Q1 2020.
Den reported consolidated operating revenues of Rs 301.31 crore and Rs 313.15 crore for Q1 2021 and Q1 2020 respectively. Consolidated EBITDA for Q1 2021 was Rs 63.93 crore, for Q1 2020 it was Rs 41.19 crore. PAT for the period under review was Rs 58.32 crore as compared to Rs 14.31 crore in the corresponding year ago quarter. Total Income (revenue) for the period was flat at Rs 364.47 crore as compared to Rs 364.40 crore in Q1 2020.
Segment Revenue
Den Networks has two major segments in Cable Business and Broadband Business.
Den reported 3.6 percent decline in total revenue for its Cable Business in Q1 2021 at Rs 284.47 crore as compared to Rs 295.17 crore in Q1 2020. The company reported 6.93 crore operating result for the quarter under review as compared to an operating loss (negative result) of Rs 11.07 crore for Q1 2020.
Den reported 14 percent growth in subscription revenue for its Cable Business for Q1 2021 at Rs 195 crore as compared to Rs 171 crore in the corresponding quarter of the previous year. Placement/Marketing Income declined 37.1 percent y-o-y in Q1 2020 to Rs 61 crore from Rs 97 crore. Activation Income increased 4.3 percent in Q1 2020 to Rs 24 crore from Rs 23 crore in Q1 2020. PAT for the segment more than tripled to Rs 65 crore in Q1 2020 as compared to Rs 20 crore for Q1 2020.
Den reported 6.3 percent lower Broadband Business operating revenue at Rs 16.85 crore in Q1 2021 as compared to Rs 17.98 crore in Q1 2020. The segment’s operating loss (negative result) increased to Rs 6.32 crore in Q1 2020 as compared to operating loss of Rs 5.45 crore in Q1 2020.
Let us look at the other numbers reported by Den for Q1 2021
Total expenditure for Q1 2021 declined 12.8 percent to Rs 302.95 crore from Rs 347.32 crore in Q1 2020. Content costs declined 15.2 percent in the quarter to Rs 135.20 crore from Rs 159.41 crore in the corresponding year ago quarter. Placement fees declined 62.8 percent to Rs 3.59 crore in Q1 2021 as compared to Rs 9.65 crore in Q1 2020. Employee benefits expense for Q1 2021 increased 5.1 percent y-o-y to Rs 23.92 crore from Rs 22.75 crore in Q1 2020. Finance costs in Q1 2021 declined 87.2 percent to Rs 2.26 crore from Rs 17.64 crore. Other expenses declined 12.8 percent in Q1 2021 to Rs 74.69 crore from Rs 80.15 crore in Q1 2020.
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.
