Cable TV
GTPL Hathway appoints Viren Thakkar as new chief financial officer
MUMBAI: GTPL Hathway , one of the major players in the Indian cable TV and broadband industry, has appointed Viren Thakkar as chief financial officer of the company. The appointment ,which will come into effect from 2nd July, was posted on the Bombay Stock Exchange (BSE) website.
Earlier this month, the former CFO of the company Jayanta Pani resigned from his post after spending around one and half year in the company. Pani’s last working day at GTPL, where he joined in November 2008, will be 30th June.
Viren Thakkar , a chartered accountant and a cost accountant, started his career in 1991 with Anil Starch Products Limited, an Ahmedabad-based Lalbhai Group company.
The newly appointed CFO has over 27 years of experience in corporate finance, cost control, budgeting, internal control and audit and corporate planning. Earlier, he has worked as CFO in Roquette Riddhi Siddhi Private Limited. He had the responsibility of India, Middle East and Africa Region.
Between 2007 and 2012, Viren Thakkar was general manager – finance at Torrent Power Limited, a part of Ahmedabad-based Torrent Group. He used to manage the finance, accounts, treasury operations, costing and taxation direct and indirect) at corporate level for Torrent Power and group companies. Along with that He was also involved in business development activities and handled insurance portfolio at the group level.
Other than that, the experienced professional was also associated with Doshion Limited (Ahmedabad), Southern Range Nyanza Limited (Uganda), and Gujarat Telephone Cables Limited (Ahmedabad).
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MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
