Hathway narrows Q2 consolidated net loss by 74% to Rs 2.4 cr

MUMBAI: Hathway Cable and Datacom has narrowed its consolidated net loss by 74% to Rs 2.4 crore for the quarter ended 30th September as against Rs 9.4 crore in the trailing quarter.

Operating EBITDA was up 15% to Rs 107.5 crore compared to Rs 93.1 crore a quarter ago. Total income declined 2% to Rs 442.1 crore while expenditure was down 6% to Rs 334.7 crore.

Subscription revenue (cable + broadband) was remained flat at Rs 354.2 crore compared to Rs 350.5 crore. Placement revenue declined 13% to Rs 68.4 crore while activation revenue fell 11% to Rs 15 crore.

Pay channel cost jumped 7% to Rs 138.6 crore. Operational cost and other expenses witnessed a double-digital fall. The depreciation & amortisation cost includes onetime impairment of assets worth Rs 30 crore.

Broadband subscription revenue came in at Rs 139.3 crore as against Rs 133.8 crore. Cable TV subscription revenue fell to Rs 214.9 crore compared to Rs 216.7 crore in the trailing quarter.

During the quarter, the company’s cable TV base stood at 6 million including 0.29 million HD customers. The subscription collection efficiency is 100%.

The broadband subscriber base increased to 860,000 from 840,000 in the previous quarter. The company said that the FTTH markets are leading growth in customer acquisition. Going forward, the focus on doubling net additions momentum H2 onwards.

The national average on monthly data consumption is 146 GB/consumer/month. Chennai being a pure FTTH market, data consumption average is 179 GB /consumer/month which is very close to developed markets average of 200 GB / month.

It also stated that the Hybrid STB will provide market leverage of providing bundled Cable & OTT platforms offerings with high-speed broadband.

Hathway Playbox is helping to increase data usage, as consumers shift Viewing to OTT on a large screen, thereby further strengthening the business case for FTTH

Further, the GPON FTTH Parallel network is being deployed in High Potential High Penetrated DOCSIS home passes. Opportunity to increase market share by offering 200-500 Mbps speed to premium consumers.

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