Cable TV
GTPL Hathway declares maiden dividend on higher numbers for FY-17
BENGALURU: Indian multi-system operator GTPL Hathway declared a maiden dividend of ten percent for the year ended 31 March 2017 (FY-17, current year) per equity share of face value of Rs 10. The company was listed on the bourses on 4 July 2017 after the conclusion of a Rs 4,850 initial public offering (IPO) that was oversubscribed by 1.53 times in the third week of June 2017.
GTPL reported 26.5 percent growth in Total Income to Rs 9,417.40 million in FY-17 from Rs 7,442.84 million in FY-16. Net Profit after tax (PAT) increased by more than seven times to Rs 262.42 million in the current fiscal from Rs 36.93 million in the previous year. Total comprehensive income also increased almost seven-fold to Rs 259.79 million from Rs 38.58 million. EBIDTA including other income in FY-17 increased 50.7 percent to Rs 2,077.33 million from Rs 1,595.93 million in the previous fiscal. Earnings per share increased by about 5.5 times in fiscal 2017 to Rs 4.10 from Rs 0.75 in the previous year.
The company in its investor presentation says that cable TV subscription revenue grew 33 percent to Rs 4,494 million in FY-17 as compared to the Rs 3378 million during the previous fiscal. Cable TV Average Revenue per User (ARPU, net of taxes) in phases I, II, III and IV was Rs 100, 95, 54 and 41 respectively. Active set top boxes in FY-17 went up to 5.98 million, while the number of set top boxes seeded until 31 March 2017 was 6.90 million.
Broadband revenue grew 77 percent to Rs 1,288 million from Rs 730 million during the same period. Broadband revenue’s contribution to overall revenue increased 4 percent, and the company says that broadband Broadband revenue grew 77 percent to Rs 1,288 million from Rs 730 million during the same period. Broadband ARPU increased 5.5 percent in FY-17 to Rs 480 from Rs 455 in the previous fiscal. GTPL Hathway claims to have seeded 1.48 million set top boxes in fiscal 2017.
Let us look at the other numbers reported by GTPL Hathway
Total expenses increased 20 percent to Rs 7,013 million in FY-17 from Rs 5,847 million in FY-16. Pay channel cost increased 17 percent to Rs 3,821 million from Rs 3,277 million in the previous fiscal. Bandwidth expense increased 78 percent in FY-17 to Rs 422 million from Rs 237 million in Fy-16.
Employee cost increased 34 percent to Rs 1,084 million from Rs 808 million. Other operating expense reduced 23 percent to Rs 471 million from Rs 612 million. Administrative expense in FY-17 increased 33 percent to Rs 1,215 million from Rs 913 million.
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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.
