Cable TV
Siti Networks appoints Sanjay Berry as CFO
MUMBAI: Siti Networks Ltd, a sister company of Zee group, has appointed Sanjay Berry as the chief financial officer of the company.
The new CFO Berry was working as the corporate financial controller with Bharti Enterprises. Berry has been handling finance function with expertise in financial management, compliance and internal controls. In his 25 years of work life, he had varied experience with Computer Sciences Corporation, Bharti Airtel, Patni Computer Systems, HCL Technologies and Arthur Andersen & Associates.
Siti Networks got its new sobriquet earlier this year. Prior to this it was known as Siti Cable Network Ltd.
It has gained respect from the cable community and is reputed to have a robust business model. In August this year, got board approval to raise up to $100 million through the issuance of securities.
Siti Networks has chalked up improved financials in its latest quarter financials. It reported a 23.6 percent and 2.9 percent year-over-year (y-o-y) growth in operating revenue and EBIDTA including other income for the quarter ended 30 September 2106 (Q2-17, current quarter). The growth in revenue was led by a 33.3 percent y-o-y growth in restated subscription revenue on net billing basis of Rs 135.3 crore (46.8 percent of Total Income from Operations or TIO) as compared to Rs 101.5 crore (43.4 percent of TIO) reported for the corresponding year ago quarter.
The company’s cable TV customer base was stable at 1.22 crore in the current quarter as compared to the immediate trailing quarter. The company had 1.07 crore cable customers in Q2-16. The company says that is now present in 400 plus locations in India serving a total digital subscriber base of 87 lakh customers. For the last quarter the company had reported a digital subscriber base of 84 lakh and 59 lakh for Q2-16.
Broadband revenue increased 167.7 percent y-o-y to Rs 24.9 crore (8.6 percent of TIO) in the current quarter from Rs 9.3 crore (4 percent of TIO) in Q2-16.
By bringing in Berry who has a telecom background Siti Networks has indicated that its focus on the broadband sector is likely to increase as well that it is working on putting in place more rigorous financial processes in its operations.
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.
