Hathway Cable and Datacom declines 5% post Q1 results

Hathway Cable and Datacom Ltd shares declined by over 5 percent to Rs 14.95 on July 18 at 10:30 am, following the company’s announcement of its financial and operating results for the first fiscal quarter ending June 30, 2023.

The cable TV and fiber internet provider reported a 6.7 percent year-on-year growth in consolidated profit at Rs 22.36 crore for the quarter ended June FY24, driven by other income.

Its revenue from operations was 11.63 percent higher at Rs 499.23 crore during the quarter under review, compared to Rs 447.18 crore in the corresponding quarter of the last fiscal year.

However, EBITDA fell 10.88 percent to Rs 77.53 crore, and the margin dropped by 400 basis points to 15.5 percent compared to the year-ago period, impacted by higher pay channel costs.

Total expenses of Hathway Cable in the first quarter of 2023-24 increased by 13.85 percent to Rs 513.85 crore.

Segment-wise, the broadband revenue of the company saw a marginal drop from Rs 157.17 crore in Q1FY23 to Rs 156.76 crore during the quarter ending June 2023. On the other hand, the cable segment of the company saw an 18 percent growth year-on-year, increasing from Rs 290.1 crore in June 2022 to Rs 342.4 crore in Q1FY24.

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Hathway Cable & Datacom is engaged in the distribution of internet services through cable and holds a strategic stake in entities with Cable Television business.

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