Cable TV
GTPL Hathway navigates challenging quarter, eyes future growth
MUMBAI: GTPL Hathway has unveiled its unaudited financial results for the first quarter ended 30 June 2025, revealing a mixed bag for the entertainment and broadband major. While the company saw an uptick in its top line, profitability faced a squeeze during the period.
The consolidated revenue from operations for Q1 FY26 stood at Rs 5,946.79 million, a healthy increase from Rs 5,359.94 million reported in the same quarter last year. Total income also reflected this growth, climbing to Rs 5,990.20 million from Rs 5,432.95 million year-on-year. On a consolidated basis, total income for the quarter reached Rs 9,091 million, marking a 7 per cent rise year-on-year and a 1 per cent increase quarter-on-quarter.
However, the spotlight falls on the company’s profitability. Net profit after tax (Pat) saw a significant decline, coming in at Rs 56.25 million for Q1 FY26, a stark contrast to Rs 150.23 million in Q1 FY25. Consolidated PAT was Rs 105 million, consistent with the previous quarter but down from Rs 143 million in Q1 FY25. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) was recorded at Rs 1,123 million, with an EBITDA margin of 12.4 per cent. This is a decrease from Rs 1,205 million and a 14.2 per cent margin in the corresponding quarter of the prior fiscal year.
Operationally, GTPL Hathway continues to expand its reach. The cable television business maintained a strong subscriber base, with 9.60 million active set-top boxes and 8.90 million paying subscribers as of Q1 FY26. The broadband segment also showed progress, reaching 1.05 million active subscribers and a home-pass count of 5.95 million. Average data consumption per customer soared to 410 GB per month, a 17 per cent increase year-on-year, while average revenue per user (ARPU) held steady at Rs 465..
In a strategic move, the board of directors approved the re-appointment of Anirudhsinh Jadeja as managing director for a further three-year term, effective from 8 December 2025.
The company also highlighted a contingent liability related to a demand from the Department of Telecommunications (DOT) for licence fees totalling Rs 9,754.15 million. GTPL Hathway remains confident in its legal position and has not recognised any provision for this matter.
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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.
