Cable TV
Hathway Q3 operating income up 52%
BENGALURU: Indian Multi Systems Operator (MSO) Hathway Cable & Datacom Limited (Hathway) reported a jump of 52.1 per cent in operating income to Rs 234.78 crore in Q3-2014 from Rs 154.40 crore in Q3-2013 and up 6.7 per cent from Rs 220.28 crore in Q2-2013.
The company’s operating income for 9M-2014 was 62.5 per cent higher at Rs 687.71 crore compared with Rs 423.14 crore in 9M-2013. For FY 2013, the company reported operating income of Rs 654.32 crore.
Hathway’s y-o-y EBIDTA for Q3-2014 at Rs 39.13 crore was up 6.3 per cent as compared to the Rs 36.82 crore in Q3-2013, but (2.5) per cent lower than the Rs 40.15 crore in Q2-2014. YTD, Hathway’s 9M-Q2014 EBIDTA was 79.9 per cent more at Rs 156.4 crore as compared to the Rs 86.93 crore in 9M-2013. For FY 2013, Hathway’s EBIDTA was Rs 178 crore.
Let us look at the other figures reported by Hathway for Q3-2014
The company’s income breakup for the quarter is: Cable Income:-Rs 191.1 crore ; Placement Income-Rs 73.6 crore : Activation Income- Rs 2.5 crore : Broadband Income-Rs 36.6 crore.
Hathway reported a net loss of Rs (36.86) crore which was almost five times (4.97 times) the loss of Rs 7.42 crore in Q3-2013, but 17.1 per cent less than the loss of Rs 44.45 crore in the immediate trailing quarter. Hathway’s 9M-2014 net loss at Rs 75.99 crore was triple the loss of Rs 25.25 crore in 9M-2014. For FY 2013, Hathway reported a profit of Rs 3.20 crore.
Total Expense including depreciation and amortization for Q3-2014 at Rs 254.03 cores was 72.1 per cent more than the Rs 147.57 crore in the corresponding quarter of last year and 8.9 per cent more than the Rs 233.19 crore in Q2-2014. During 9M-2014, Hathway’s Total Expense was higher by 62.6 per cent at Rs 685.32 crore as compared to the Rs 421.62 crore in 9M-2013. For FY 2013, Hathway reported Total expense at Rs 608.5 crore.
Hathway paid almost double (1.95 times) towards Pay channel cost in Q3-2014 at Rs 82.73 crore as compared to the Rs 42.96 crore in Q3-2013 and 22.6 per cent more than the Rs 68.30 crore in Q2-2014. In 9M-2014, Hathway paid Rs 210.47 crore towards this head, which was 74 per cent more than the Rs 120.91 crore in 9M-2013. For FY 2013, the company paid Rs 170.41 crore towards this cost.
The company’s finance cost for Q3-2014 at Rs 22.41 crore was almost double (up 1.96 times) the Rs 11.43 crore I Q3-2013, but (5.5) per cent lower than the Rs 23.71 crore in Q2-2014. In 9M-2014, Hathway’s finance cost more than double (up 2.11 times) to Rs.67.81 crore as compared to the Rs.32.07 crore in 9M-2013. For FY 2013, Hathway paid Rs.46.14 crore towards finance cost.
By the end of December 2013, Hathway claims that it along with its JV partners had deployed 77 lakh boxes. During the quarter the company says that it has laid emphasis on collecting CRF’s from Phase II cities and on focusing for monetization of DAS areas. With this focus on collections it says that it has witnessed continued traction in the pace of subscription collections into January 2014.It says further that gross additions to its Broadband subscriber base was around 27,000 for the quarter.
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.
