Cable TV
NXTDigital posts strong Q2 results
NEW DELHI: NXTDigital has posted a year-on-year EBITDA growth of 15.8 per cent at Rs 50.7 crores for the second quarter, an improvement of 2.7 per cent over the previous quarter.
While revenues remained stable despite the impact of the Covid2019 pandemic, the company posted an EBIDTA of Rs 102.1 crores for the half year ended 30 September 2020, a growth of 8.7 per cent over the corresponding period of the previous year. By laying greater focus on operational efficiency rather than pure revenue growth at the cost of profitability, it was able to improve EBIDTA margins to 21.7 per cent for the half year, compared to 19.2 per cent in the corresponding period of the previous year.
NXTDigital has not only been able to maintain its subscriber base but grow its video and data businesses, in spite of the serious negative sentiments of the pandemic. The company has maintained its collection efficiency of over 99.5 per cent under its prepaid collection model.
The board has designated Vynsley Fernandes as media group chief executive officer of NXTDigital with oversight of all the media businesses of the group encompassing cable TV, HITS and broadband. He will be responsible for leading the overall business and operations of the group as it continues to expand across the media spectrum.
With NXTDigital being the only HITS platform in the country, it’s expected to get a boost from the sharing of HITS infrastructure with other Multi-System Operators (MSOs) across the country, as recently notified by the ministry of information & broadcasting. The potential for infrastructure sharing or managed services stands at over 69 million cable TV households today – comprising smaller independent and regional MSOs.
NXTDigital CEO Vynsley Fernandes said “The focus in Q2 was to lay greater emphasis on operational efficiency, rather than pure revenue growth at the cost of profitability. Our strategy was to continue enhancing customer engagement whilst rolling out innovative solutions and driving cross-selling relentlessly. The result is manifested in our key performance indices – where not only has our EBIDTA grown both year-on-year and quarter-on-quarter; but has also seen growth in margins.”
Going forward, NXTDigital will continue to focus on consolidating and growing its serviced subscriber base, expected to cross 10 million; including onboarding of more than 5 million of managed services customers. It will also continue to drive cross-selling of digital video, broadband and value-added services whilst offering innovative bundled products and packages in diverse geographies.
The company will also roll out its NXTCONNECT device, which is a single device for customers to access live television channels, OTT content, social and other apps, games & much more, to commemorate the festival season. The launch will be coupled with the rollout of NXTGO, an innovative dongle-type device that can be plugged into an OTT set top box or an Android-based television and provide immediate access to live television channels securely.
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.
