Cable TV
GTPL Hathway believes NTO 2.0 won’t affect price stability
MUMBAI: At the very beginning of 2020, the Telecom Regulatory Authority of India (TRAI) issued fresh amendments to the New Tariff Order (NTO) within less than one year of its implementation. Rattled by the sudden change, the stakeholders in the industry seem to be displeased. But in contrast, GTPL Hathway believes NTO 2.0 is an extension of NTO 1.0 and price stability in the market will continue despite the revision.
“There is NCF for Rs 160 in the new NTO and there is NCF Rs 130 in the earlier NTO plus we could charge additional Rs 20 for every additional 25 channels, so broadly speaking, from a short-term perspective, they are more or less similar kind of thing. So, NCF has a big portion of earning. That is something which is more or less protected while one can debate on what kind of future impact it will have after three years, after five years, but from a short-term perspective that is protected,” GTPL Hathway chairman and non-executive director Rajan Gupta said in an earnings call after q3 result.
“In fact, we have the ability to charge Rs 30 more in case market forces allow us to charge and GTPL being high market share in many territories, they should have the ability to charge higher and we are happy about the consumer. I think consumers will have more choices,” he added.
According to Gupta, DPOs with higher market share should be able to make many more relevant bouquets for consumers, for example, genre-level bouquet while currently bouquets are limited to five-six, which is more based on the ARPU slabs. He said having very micro bouquets is also needed. He stated that can happen with NTO 2.0 on the back of flexibility it offers for DPOs.
Although he mentioned this is not a full assessment on NTO 2.0 but the MSO believes on the basis of the initial assessment that it should see a lot of stability in earnings and cash flow.
“It is too early to speak about how the ARPU will happen in NTO 2.0. In NTO 1.0, if you see this quarter, our ARPU has stood at around Rs 118 and we are expecting that it will go up in q4. We have gone down by Re 1- Rs 1.5 because of the festive offer given by the broadcasters. We are expecting that in q4, it will go up as the festive offer is over. Right now, we have to wait to see what new bouquets, new channel prices come from the broadcasters in NTO 2.0 and only after the assessment, we can comment on NTO 2.0 ARPU,” GTPL Hathway Cable TV business head and chief strategy officer Piyush Pankaj said.
He also added that it is not certain right now if less money will be coming from customers because it depends on what type of bouquets and a-la-carte price the broadcasters will come through. But he said there is price stability in the market during the last one year and they believe price stability would continue.
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.
