Cable TV
GTPL Hathway revenue up for Q1
BENGALURU: Indian multi-system operator and internet service provider GTPL Hathway Limited (GTPL) reported 15.7 per cent increase in total income for the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to the corresponding year-ago quarter (y-o-y) Q1 2018. GTPL’s total income in Q1 2019 was Rs 303.55 crore, for the corresponding year ago quarter it was Rs 262.41 crore.
GTPL’s consolidated profit after tax (PAT) was almost flat (declined 0.9 per cent) y-o-y in Q1 2019 to Rs 12.57 crore from Rs 12.69 crore in Q1 2018. Consolidated total comprehensive income for the period reduced 1.3 per cent y-o-y to Rs 12.50 crore from Rs 12.66 crore. Consolidated operating profit (EBITDA) excluding other income increased 18.6 per cent in Q1 2019 to Rs 77.49 crore (26.1 per cent of operating or op revenue) from Rs 65.35 crore (25.4 per cent of op revenue) in the previous fiscal.
GTPL has two segments – cable TV business and internet service. Cable TV business operating result increased 9.9 per cent y-o-y to Rs 10.17 crore in Q1 2019 from Rs 9.26 crore in the corresponding quarter of the previous year. Operating revenue of GTPL’s cable TV business increased 17.4 per cent y-o-y to Rs 260.93 crore from Rs 222.18 crore.
GTPL’s internet service operating revenue in Q1 2019 increased 2.6 per cent y-o-y to Rs 35.98 crore from Rs 35.07 crore. Internet service segment’s operating results for Q1 2019 declined 30.2 per cent y-o-y to Rs 2.40 crore from Rs 3.44 crore in the corresponding quarter of the previous year.
Let us look at the other numbers reported by GTPL Hathway
Consolidated total expenditure increased 17.2 per cent y-o-y during the quarter under review to Rs 283.11 crore from Rs 241.49 crore in Q1 2018. Pay channel cost in Q1 2019 increased 17.8 per cent y-o-yto Rs 126.44 crore from Rs 107.37 crore in the corresponding quarter of the previous year. Other operational costs reduced 15.4 per cent y-o-y in Q1 2019 to Rs 21.48 crore from Rs 25.40 crore in Q1 2018.
Employee benefits expense in Q1 2019 increased 18.6 per cent y-o-y to Rs 35.32 crore from Rs 29.78 crore in the corresponding quarter of the previous fiscal. Finance costs increased 57.2 per cent y-o-y during the quarter under review to Rs 16.12 crore from Rs 10.26 crore. Other expenses in the period increased 23.3 per cent y-o-y to Rs 36.19 per cent in Q1 2019 from Rs 29.36 crore in the corresponding quarter of the previous year.
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.
