Cable TV
GTPL cable TV business pushes revenue, profits up in Q1 2020
BENGALURU: GTPL Hathway Ltd (GTPL) reported 31.9 percent growth in revenue for the quarter ended 30 June 2019 (Q1-2020, quarter or period under review) and almost three times the operating profit for its cable TV business (CATV business) as compared to the corresponding year ago quarter Q1 2019. The company’s consolidated revenue from operations for the quarter under review grew 50 percent year on year (y-o-y) while consolidated total income expanded 30.3 percent in Q1 2020 as compared to Q1 2019. Consolidated profit after tax more than doubled (grew 164.3 percent) to Rs 33.23 crore in Q1 2020 as compared to Rs 12.57 crore in Q1 2019.
GTPL reported consolidated revenue from operations at Rs 445.47 crore in Q1 2020 as compared to Rs 296.91 crore in Q1 2019. Consolidated total income for the period was Rs 454.30 crore as compared to Rs 296.91 crore in the corresponding year ago quarter. CATV business revenue was Rs 344.16 crore in Q1 2020 as compared to Rs 260.93 crore in Q1 2-19. CATV business reported operating result of Rs 30.49 crore for the period under review as compared to Rs 10.17 crore for Q1 2019.
The company’s internet services business (Ex-EPC Project numbers) revenue grew 9.2 percent to Rs 39.29 crore in Q1 2020 from Rs 35.98 crore in Q1 2019. The segment incurred a small loss of Rs 0.14 crore in Q2 2020 as compared to an operating profit of Rs 2.40 crore in the corresponding year ago quarter. The company had been awarded Package B of the prestigious Bharat Net Phase-II project from the Gujarat Fibre Grid Network Ltd under Digital India Initiative (EPC Project) last year. GTPL reported revenue of Rs 62.02 crore an operating profit of Rs 2.89 crore from the EPC Project.
GTPL reported revenue (Ex EPC Project) of Rs 391.1 crore, which was 29 percent more y-o-y. The company says in an earnings release that its CATV subscription revenue increased 47 percent y-o-y to Rs 247.2 crore. EBITDA Ex EPC Project increased 32 percent y-o-y to Rs 110.3 crore. Ex EPC Project PAT doubled to Rs 26.6 crore.
On the operational front, GTPL says that it has seeded 200,000 STBs and added 300,000 digital paying subscribers in Q1 2020. The company says that it had 97 lakh (9.7 million, 0.97 crore) digital paying subscribers as on 30 June 2019. Phase-wise seeding as on June 30, 2019 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 8.6 lakh (0.86 million, 0.086 crore); 22.6 lakh (2.26 million, 0.226 crore); 30 lakh (3.00 million, 0.3 crore) and 35.8 lakh (3.58 million, 0.358 crore) respectively.
Further, GTPL says that two thirds or 10,000 of the 15,000 new broadband internet subscribers were FTTX subscribers. Consumption per customer at 120 GB/month as on June 2019 was up from 38 GB/month in March 2017, or data consumption increased 3x over two years’ period.
Company speak
Commenting on performance, GTPL managing director Anirudhasinhji Jadeja said, “Q1FY20 was the first full quarter with New Tariff Order (NTO), which has led to significant growth in subscription revenue. Subscription revenue grew by 47percent on a y-o-y basis. Overall, our first quarter performance was in line with our expectation and we see our next three quarters equally exciting. With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage. We will further increase the pace of growth momentum towards CATV and broadband business in FY 2019 – 20.”
Let us look at the other numbers reported by GTPL
Consolidated total expenditure increased 42.7 percent during the quarter under review to Rs 403.99 crore from Rs 283.11 crore in Q1 2019. Pay channel cost in Q1 2020 increased 42.5 percent to Rs 180.17 crore from Rs 126.44 crore in the previous year. Other operational costs increased 2.7 percent to Rs 21.39 crore from Rs 20.83 crore.
Employee benefits expense in Q1 2020 was almost flat (decreased 0.1 percent) to Rs 35.29 crore from Rs 35.32 crore in the correspond period of the previous fiscal. Finance costs reduced 20.7 percent during the querter under review to Rs 12.45 crore from Rs 15.70 crore. Other expenses in the period increased 29.8 percent to Rs 48.37 percent to Rs 37.26 crore in the corresponding quarter of the previous year.
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.
