Cable TV
GTPL Hathway reports cable and internet subscribers, profit growth for FY 2019-20
BENGALURU: Indian cable and internet services major GTPL Hathway Ltd (GTPL) reported profit after tax (PAT) for the year ended 31 March 2020 (FY 2020, year under review) at Rs 87.72 crore which was more than triple the PAT of Rs 25.08 crore for the previous fiscal (FY 2019). However, the company reported a loss of Rs 19.59 crore for the quarter ended 31 March 2020 (Q4 2020, quarter under review) as compared to a loss of Rs 23.50 crore for the corresponding year ago quarter (Q4 2019). The board of directors of the company have proposed a dividend of Rs 3 per share (30 percent) of face value of Rs 10 each for the year.
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GTPL has reported adding 700,000 cable TV subscribers and 80,000 internet subscribers during the year under review. It closed FY 2020 and Q4 2020 with eight million (0.8 crore or 80 lakh) CATV active subscribers or 7.5 million (0.75 crore, 75 lakh) paying CATV subscribers and 405,000 internet subscribers.
The company reported 88 per cent increase in consolidated total income at Rs 2,424.74 crore in FY 2020 as compared to Rs 1,289.15 crore for FY 2019. Consolidated operating income for the year under review increased 91.4 per cent to Rs 2,384.08 crore from Rs 1,245.82 crore in FY 2019. Consolidated total income for Q4 2020 at Rs 666.55 crore was almost double (up 91.1 per cent) as compared to Rs 348.75 crore in Q4 2019. Operating income in Q4 2020 was more than double (up 103.3 per cent) at Rs 655.65 crore as compared to Rs 322.43 crore for the corresponding year ago quarter.
Segment Revenue
GTPL Hathway has three segments: CATV, Internet and EPC; through EPC it is executing a contract for BharatNet, for which it has reported annual revenue for the first time in FY 2020.
CATV segment reported 42.2 per cent growth in operating revenue for FY 2020 at Rs 1,565.50 crore from Rs 1,101.26 crore in the previous year. The segment had an operating profit growth of 141 per cent at Rs 108.20 crore during the year under review as compared to Rs 44.90 crore in FY 2019. Operating revenue for CATV segment in Q4 2020 grew 49.2 per cent to Rs 427.44 crore from Rs 286.40 crore in Q4 2019. Operating loss for CATV segment increased to Rs 34.62 crore in Q4 2019 as compared to an operating loss of Rs 25.82 crore in Q4 2019.
Internet services segment revenue in FY 2020 grew 15.9 per cent to Rs 167.60 crore from Rs 144.56 crore in FY 2019. The segment had an operating profit of Rs 4.96 crore in FY 2020 as compared to an operating loss of Rs 2.06 crore in FY 2019. ARPU for the segment in FY 2020 at Rs 422 was higher than the Rs 413 for FY 2019. For Q4 2020, Internet Services revenue grew 28.5 per cent to Rs 46.31 crore from Rs 36.03 crore. The segment had an operating profit of Rs 3.64 crore during the quarter under review as compared to an operating loss of Rs 5.31 crore in Q4 2019. ARPU for Internet Service segment for Q4 2020 at Rs 422 was higher than RS 415 in the immediate trailing quarter, Q3 2020, and the Rs 413 in Q4 2019.
GTPL reported operating revenue of Rs 650.98 crore in FY 2020 for its EPC Project. The segment had an operating profit of Rs 44.69 crore. For Q4 2019, EPC Project operating revenue was Rs 181.91 crore as compared to Rs 237.66 crore in the immediate trailing quarter Q3 2020.
Company Speak
GTPL managing director Anirudhsinh Jadeja said, “Amidst a year of industry reforms, GTPL Hathway has emerged as a stronger company. Our operating ability to expand our services have improved and so has our ability to generate free cashflow. The highlight of FY20 was strong profitability, debt reduction and geographical expansion. Our FY20 consolidated revenue and EBITDA grew by 88 per cent and 39 per cent, respectively. During the year, we have reduced our gross debt by Rs 1,293 million (Rs 129.30 crore). During the year, we have strengthened our CATV presence in Mumbai (Maharashtra) and have entered Chennai (Tamil Nadu). We have also expanded our subscribers base in Andhra Pradesh and Telangana in FY20.”
“FY20 was the first full year of implementation of the New Framework across the industry. Implementation of new regime prima facie resulted in change in LCOs’ earning profile adversely and restricted their cash flow cycle, consequently, lowering their ability to pay their dues to the company. Pursuant to the above change and assessment carried out by the management, we have recognised Rs 679.64 million (Rs 67.964 crore) towards impairment of trade receivables and have disclosed the same as ‘Exceptional Item’", added Jadeja.
Let us look at the other numbers reported by GTPL for FY 2020
Consolidated total expenditure increased 86.2 per cent during the year under review to Rs 2,198.93 crore from Rs 1,180.92 crore in FY 2019. Pay channel cost in FY 2020 reduced 38.5 per cent to Rs 513.77 crore from Rs 835.92 crore in the previous year. Other operational costs declined 5.8 per cent to Rs 88.34 crore from Rs 93.90 crore in the previous year.
Employee benefits expense in FY2020 increased 16.2 per cent to Rs 126.1 crore from Rs 108.44 crore in the previous fiscal. Finance costs increased 14.2 per cent during the year under review to Rs 51.35 crore from Rs 44.95 crore. Other expenses in the period declined 26.2 per cent to Rs 178.42 crore from Rs 243.86 crore in FY 2019.
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.
