Cable TV
Den reports lower numbers for third quarter
BENGALURU: Indian cable distribution network and broadband internet services (broadband) provider Den Networks Ltd reported 6 per cent drop in consolidated operating revenue numbers for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y, Q3 2018).
Den Network’s operating profit (EBITDA) declined 39 per cent y-o-y during the period under review to Rs 48.10 crore (15.6 percent of operating revenue) from Rs 78.83 crore (24 per cent of operating revenue) in Q3 2018.
Den reported a net loss of Rs 31.21 crore in Q3 2019 as compared to a profit after tax of Rs 1.73 crore in Q3 2018.The company reported total comprehensive loss (TCL) of Rs 31.06 crore as compared to total comprehensive income of Rs 1.31 crore in Q3 2018.
Segment numbers
Den has two segments – cable distribution networks (Cable) and broadband. Both segments reported lower y-o-y revenues and operating loss for the quarter under review.
Cable segment revenue reduced 6.1 per cent y-o-y in Q3 2019 to Rs 291.59 crore from Rs 310.50 crore in Q3 2018. Den reported that the segment had an operating loss of Rs 8.95 crore as compared to an operating profit of Rs 25.20 crore in Q3 2018.
Den Networks reported 5.1 per cent y-o-y decline in operating revenue for its broadband segment in Q3 2019 at Rs 16.82 crore as compared to Rs 17.72 crore in Q2 2018. The segment’s operating loss reduced to Rs 6.60 crore in Q3 2019 from an operating loss of Rs 7.29 crore.
Let us look at the numbers reported by Den Networks for Q1 2019
Den Networks consolidated revenue from operations in Q3 2019 was Rs 308.41 crore, 6 per cent lower than the Rs 328.22 crore in Q3 2018. Consolidated total revenue including consolidated other income declined 6.4 per cent y-o-y in Q3 2019 to Rs 313.32 crore from Rs 334.92 crore in Q3 2018.
Consolidated total expenditure for the quarter under review increased 3.9 per cent y-o-y in Q3 2019 to Rs 337.84 crore (109.5 percent of operating revenue) from Rs 325.20 crore (99.1 per cent of operating revenue) in the corresponding quarter of the previous year.
Consolidated content cost increased 10.5 per cent y-o-y in Q3 2019 to Rs 148.65 crore (48.2 per cent of operating revenue) as compared to Rs 134.56 crore (41 per cent of operating revenue) in Q3 2018. Consolidated placement fees reduced 9.3 per cent y-o-y in Q3 2019 to Rs 9.99 crore (3.2 per cent of operating revenue) from Rs 12.48 crore (3.4 per cent of operating revenue) in Q3 2018.
Den Networks consolidated employee benefits expense during the period under review declined 7.5 per cent y-o-y to Rs 23.80 crore (7.7 per cent of operating revenue) from Rs 25.73 crore (7.8 per cent of operating revenue) in Q3 2018. Consolidated other expenses in Q3 2019 increased 1.6 per cent y-o-y to Rs 77.87 crore (25.2 per cent of operating revenue) in Q3 2019 from Rs 76.62 crore (23.3 per cent of operating revenue) in the corresponding quarter of the previous year.
Company speak
Den CEO SN Sharma said, “Cable subscription ARPU is consistent with respect to the previous quarter which stood at Rs 96 per box (including tax).
"TRAI tariff order implementation, a potential gamechanger in the cable industry, is underway wherein we have taken host of initiatives and strengthened our internal processes including IT systems. In order to migrate to the new tariff order, consumer has various options to exercise his choice of channels through our consumer / LCO mobile applications and web portal.
"Extensive LCO/distributor awareness programme are under progress wherein the partners are explained in clear terms the benefits they would get in the overall value chain. Prepaid system for cable subscription partners, the most preferred billingoption under the new tariff order, has been successfully rolled out during the quarter in select markets.”
Strategic investments in Den by Reliance Industries
On 17 October 2018, the Mukesh Ambani led Reliance Industries Ltd reported to the bourses that it has decided to make strategic investments thought a primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 percent stake in Den. Reliance also said that it would make a primary investment of Rs 2,940 crore through a preferential issue under SEBI regulations for a 51.3 per cent stake in Hathway Cable and Datacom Ltd (Hathway) of the Rajan Raheja group.
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.
