Hathway Q2 consolidated revenue up 4% to Rs 447.9 crore

Net profit dropped 64% to Rs 19.1 crore from Rs 52.3 crore

e4m by exchange4media Staff
Updated: Oct 26, 2021 11:59 PM

Hathway Cable and Datacom's consolidated revenue grew 4% to Rs 447.9 crore for the quarter ended 30th September, as against Rs 431.2 crore in the same quarter of the previous fiscal. Broadband revenue was up 2% to Rs 157.2 crore, while CATV revenue increased 5% to Rs 290.7 crore.

Total expenditure dropped 15% to Rs 358.7 crore from Rs 310.9 crore. Pay channel cost rose 19% to Rs 157.3 crore from Rs 132.5 crore. The company's EBITDA declined 23% to Rs 105.7 crore from Rs 137.1 crore. Net profit dropped 64% to Rs 19.1 crore from Rs 52.3 crore.

With the effect of the pandemic reducing, the average monthly consumer churn stood at 1.2% in Q2. The company seeded 175,000 new set-top boxes (STBs) which ensured a stable subscriber base. It also noted that the subscription same month renewal efficiency is back to Pre Pandemic peak of 93%.

In the last two years, the company has created an extensive incremental infrastructure for market share gain with focus on Southern Eastern states. It has connected over 226 new locations with IP links and added 2700 Km of fibre network.

The company's cable subscription revenue remained flat at Rs 178.6 crore as against Rs 178.7 crore. Its cable base stood at 5.5 million across 109+ cities and towns.

Broadband subscription revenue stood at Rs 157.2 crore as against Rs 153.3 in the year ago period. The company added 32,000 net subscribers to take the total broadband base to 1.08 million. Hathway said it is continuously seeing an increase in bandwidth/consumer National average on monthly data consumption is 226 GB/ consumer/month, FTTH market's data consumption average is 250 GB/ consumer/ month which shows high level of consumer engagement.

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