Cable TV
Hathway tunes up profits as broadband beams bright, but cable remains a drag
MUMBAI: Hathway Cable and Datacom has wrapped FY25 with a cautiously upbeat tune, posting a consolidated profit of Rs 92.5 crore—a modest dip from Rs 99.3 crore in FY24. But if you zoom into the latest quarter, Q4 was anything but quiet.
Revenue for the fourth quarter stood at Rs 513.2 crore, up four per cent from Rs 493.4 crore a year ago. Total income rose to Rs 546.6 crore in Q4 FY25, compared to Rs 533.6 crore in Q4 FY24. Net profit came in flat at Rs 34.8 crore, nearly mirroring last year’s Rs 34.6 crore.
But the real tempo change came in the mix: other income more than doubled to Rs 33.4 crore from Rs 16 crore last quarter, while expenses remained tightly controlled, nudging up just three per cent year-on-year. EPS for the quarter held at Rs 0.20.
Segment-wise, broadband held its line with Rs 149 crore in revenue, while cable TV brought in Rs 346 crore, both marginally higher year-on-year. Yet cable continued its loss-making streak, clocking a Q4 segment loss of Rs 12.4 crore. Broadband barely eked out a Q4 profit at Rs 0.9 crore.
Total consolidated income for FY25 hit Rs 2,146 crore, inching up from Rs 2,119 crore in FY24. Broadband revenue came in at Rs 602 crore, down slightly from Rs 623 crore. Cable TV, however, crept up to Rs 1,372 crore from Rs 1,349 crore.
The broadband division’s yearly profit fell to Rs 9.9 crore from Rs 31.9 crore. Cable TV slumped deeper, posting a Rs 61.5 crore loss, widening from Rs 47 crore in FY24.
The surprise chartbuster? Hathway’s securities trading segment, which ballooned to Rs 85.5 crore from a humble Rs 8.9 crore. Other income also stayed generous at Rs 106.7 crore. These non-core wins helped keep overall profitability in the black.
Total assets rose to Rs 5,121 crore from Rs 4,963 crore, while equity expanded to Rs 4,384 crore. Borrowings and lease liabilities slimmed down, giving the balance sheet a cleaner look.
However, a lingering cloud remains: a Rs 3,201 crore demand from the Department of Telecommunications for unpaid licence fees. The company, backed by legal advice, continues to contest the demand and has made no provision.
With cable still bleeding, broadband levelling off, and securities surprisingly saving the day, Hathway’s FY25 tune is part resilience, part remix. Whether the beat goes on in FY26 depends on plugging operational leaks and finding new hits in its digital playbook
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.
