Cable TV
NXT Digital does a financial turnaround in FY 2020
MUMBAI: Among the early movers in the cable TV industry, the Hinduja group run – NXT Digital has turned out impressive financials for the financial year 2020. The topline has shown significant growth, it has turned EBIDTA positive and how; the red ink on its bottomline has been replaced by fat profits and to top it all it has even declared a dividend of 50 per cent. And it's all thanks to its subsidiary IMCL, which has declared a robust performance over the past four quarters.
On a consolidated basis, revenues grew by 65 per cent over FY19, from Rs 704.62crore to Rs 1,162.10crore; operating EBIDTA rose significantly to Rs 218.01crore against a loss of Rs 72.61crore; its PAT is a healthy Rs 110.05 crore as against a loss of Rs 303.43 crore in FY19. Buoyed by the great showing, a dividend of 50 per cent has been declared to the joys of many a shareholder.
NXT Digital announced that its HITS platform today has five million subscribers through local cable operators (LCOs) and smaller multisystem operators (MSOs) in 1500 towns all over India, and even in remote places such as Ladkah, Kargul, the far north east and the Andaman, Nicobar and Lakshwadeep islands. The technology, using C-band is not affected by rain or adverse weather and customers in these areas continue to enjoy digital services, uninterrupted.
"This kind of outstanding performance consistently over the last four quarters speaks volumes on our commitment towards our subscribers through strong value creation," says IMCL CEO Vynsley Fernandes."We firmly stand committed to further our endeavor of creating an integrated platform for digital services, offering cable TV, satellite, broadband and other digital media, all under one roof. Building an effective framework along with our product bundling strategy has been crucial for our business turnaround in FY20. With close to a 100 per cent prepaid base and a substantial presence in phase 3 and 4 markets, IMCL expects to continue on its digital growth path."
The company says it has continued to focus on key drivers through FY' 20. Some of these include:
* Targeting the the fastest growing segments of semi-urban and rural India. Over 60 per cent of its subscriber base is in these markets which continue to see increasing pay TV penetration as well as growing average revenue per user (ARPU).
*Growing ARPU through value added services and differentiated products in the cities. Launching innovative products like layering cable TV with broadband and value-added services, coupled with 24X7 services on ground.
* Successfully implementing the new regulatory framework, set out by the TRAI (Telecom Regulatory Authority of India) in early 2019. The visionary framework which brought in much needed transparency to the pay TV ecosystem and enhanced subscriber choice has buoyed the business model and set out a clearly defined level playing field for the industry.
* Maintaining pre-paid collections at nearly 100 per cent, whilst ensuring low churn through a focused E&R (engagement &retention) model for subscribers and franchisees.
* Leveraging its leadership position in technology, whilst improving cost efficiencies. Recently moved to 32APSK technology, that improves satellite throughput by over 30 per cent.
* Working closely with its 9,000 plus franchisees to remain focused on the subscriber through continuous enhancement of the quality of service and viewership experience.
This apart, the company is working on developing an indigenous set top box keeping in mind the government's Make in India mandate; it has been conducting digital online training for its LCOs; it has built a robust digital payment collection platform, and even rolled out a proactive business continuity plan to ensure that its subscribers get top class service even during cyclone and the ongoing Covid2019 pandemic that has rocked India and the world.
Going forward, it plans to expand on its managed services model and has signed on additional MSOs; that should double its subscriber base to 10 million. The company says the model effectively supports these smaller MSOs and LCOs several of whom are unable to sustain their businesses due to increasing costs of connectivity and technology obsolescence.
Fernandes adds that the idea is to expand the services its franchisees can offer, making them multi-product and multi- service providers; offering customers a whole range of services from FMCG products to digital and financial solutions.
"This will help our franchisees not only sustain their businesses, but diversify and grow their earnings portfolio, across the country," he says. "We remain focused on delivering integrated services to customers, bundling television with broadband services from our ISP subsidiary OneOTT iNTERTAINMENT, which has a presence in over 40 cities."
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.
