Cable TV
Hathway reports improved performance
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 18.5 per cent growth in consolidated Total Income (Total Revenue) for the fiscal ended 31 March 2017 (FY-17, current year or fiscal) as compared to FY-16. The company’s consolidated operating profit increased 58.9 percent in fiscal 2017 as compared to fiscal 2017.
Hathway reported consolidated Total Revenue of Rs 13,682.3 million for FY-17 as compared to Rs 11,550.4 million in the previous year. Consolidated Income from Operations increased 18.9 percent in the current year to Rs 13,371.2 million from Rs 11,241.8 million in the previous year.
Consolidated simple EBIDTA including operating and other income increased to Rs 2,210.7 million (16.2 percent of Total Revenue) in the current year as compared to Rs 1,391.1 million (12 percent of Total Revenue) in fiscal 2016.
Hathway’s consolidated net loss for FY-17 reduced to Rs 1,929.4 million from Rs 2,376.8 million in FY-16.
Let us look at the other numbers reported by the company
Consolidated total expenses for the year increased 14.6 percent to Rs 15,636.6 million (114.3 percent of Total Revenue) as compared to Rs 13,646.3 million (121.4 percent of Total Revenue) in FY-16.
Pay channel cost went up by 8.8 percent in FY-17 to Rs 4,716.9 million (34.5 percent of Total Revenue) from Rs 4,335.6 million (38.6 percent of Total Revenue) in the previous year. Employee Benefits Expense increased 8.1 percent to Rs 931.5 million (6.8 percent of Total Revenue) in fiscal 2017 from Rs 862 million (7.7 percent of Total Revenue) in the previous fiscal.
Other operational expense in FY-17 increased 25.9 percent to Rs 2,564.7 million (18.7 percent of Total Revenue) from Rs 2,036.5 million (18.1 percent of Total Revenue) in the previous year. Other expenses increased 11.4 percent to Rs 3,258.5 million (23.8 percent of Total Revenue) in FY-17 from Rs 2,925.2 million (26 percent of Total Revenue) in the previous year.
Finance costs increased 23.3 percent in the current year to Rs 1,107.5 million (8.1 percent of Total Revenue) from Rs 898.4 million (8 percent of Total Revenue) in the previous year.
The company has stated in its financial results: Pursuant to the approval of the internal restructuring by the board of directors and the shareholders and after seeking in-principle prior approvals from the lenders, Hathway transferred its Cable Television business by way of slump sale to its wholly owned subsidiary Hathway Digital Private Limited (earlier known as Hathway Datacom Central Private Limited) (said Subsidiary) with effect from close of business hours as of March 31, 2017 for a total consideration of Rs. 302 crore (Rs 3,020 million). In view of the same, all assets and liabilities including borrowings attributed to the cable television business got vested in the said subsidiary.
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.
