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MUMBAI: Multi-system operator (MSO)
Hathway Cable & Datacom has added 200,000
subscribers in the fiscal first quarter ended 30
June 2014, taking its total digital cable base to
8.15 million. In Phases I and II, Hathway has
seeded 7.6 million set-top boxes (STBs).
The expansion of the subscriber universe came
mainly on the back of additions in Eastern
India. As of 30 June, Hathway’s total cable
universe stood at 11.70 million subscribers.
Hathway’s pay cable subscribers were 6.40
million, while home broadband passed 1.80
million subscribers and broadband subscribers
stood at 0.42 million.
Carriage revenue at Rs 78 crore in Q1
Hathway’s carriage (placement fees) revenue
stood at Rs 78.2 crore (Rs 782 million) in the
June quarter. Carriage accounted for 31 per
cent of the MSO’s total revenue.
Operating revenue for the first quarter,
however, fell 14.5 per cent quarter-on-quarter
to Rs 250.22 crore (Rs 2.50 billion). This was
largely due to lower activation income as
deployment of set-top boxes (STBs) was
slower. Collection from activation charges
totalled Rs 41.6 crore (Rs 416 million) in the
June quarter.
Hathway’s subscription revenue stood at Rs
111 crore (Rs 1.11 billion) in the first quarter
of the current fiscal.
Delays in the implementation of DAS in Phase I
and Phase II metros, executing contracts with
the subscribers and implementation of revenue
sharing with the local cable operators (LCOs)
impacted Hathway’s revenue numbers.
Hathway managed to cut net loss to Rs 9.25
million in Q1FY15, helped by a change in
depreciation provisioning. In the quarter ended
March 2014, it had recorded net loss at Rs
49.26 crore (Rs 492.6 million).
Hathway’s standalone operations are well
ahead of its joint ventures, subsidiaries or
associate companies, believes the management.
For the quarter under review, Hathway’s
operating profit (EBITDA) stood at Rs 43.9
crore (Rs 439 million), while its economic
interest in the EBITDA of its several
subsidiaries/JVs/associate companies would
aggregate to about Rs 50 crore (Rs 500
million).
Considering its large standalone business, the
management believes that Hathway’s economic
interest in digital subscriber base during
Phases I and II to be significantly ahead of the
competition.
Its standalone net debt as on 30 June 2014
stood at Rs 1,084.5 crore (Rs 10.85 billion).
Broadband business gains traction
Hathway’s broadband business achieved a
growth trajectory, helped by Docsis 3.0
services currently offered by the MSO in
Mumbai, Pune, Hyderabad and Banglore. It
plans to launch Docsis 3.0 in Delhi and Kolkata
soon.
Owing to Docsis 3.0 technology, Hathway
added 47,000 customers in the first quarter of
fiscal 2015. It hopes to close July 2014 with a
customer base of 60,000. Its offering of 50
MBPS Docsis 3.0 services, packaged with data
plans ranging from 10 GB to 50 GB per month,
at a competitive price point (Rs 600–Rs 1,500),
is boosting its broadband revenue.
Hathway’s broadband revenues in Q1FY15
expanded 33 per cent year-on-year to Rs 41.6
crore (Rs 416 million), while the segment
recorded 23 per cent increase in ARPU.
Meanwhile, Hathway has convened an
extraordinary general meeting (EGM) of its
shareholders on 5 September 2014 to secure
approval for a preferential issue.
The company is raising Rs 300.8 crore (Rs 3.00
billion) from the Capital Group of the USA. The
funds are to be utilised mainly towards
strengthening broadband business and retiring
part of its debt.
Capital Group, having asset under management
of over $1.14 trillion, will be subscribing for
9.4 million equity shares at Rs 320.00 per
share (face value Rs 10.00 each and premium
of Rs 310.00) offered on a preferential basis.
Following the issue, Hathway’s paid-up and
subscribed equity capital would increase to Rs
161.39 crore (Rs 1.61 billion) comprising
16.14 crore equity shares.
Hathway MD & CEO Jagdish Kumar had earlier
told TelevisionPost.com that the amount raised
would be invested in broadband business. He
had also said that though Phases III and IV
were opening up, the company would wait for
the government’s indication of the deadline
before aggressively investing in digitisation. http://www.televisionpost.com/cable/hathways-q1-carriage-rev-at-rs-78-cr-adds-200000-subscribers/
Hathway Cable & Datacom has added 200,000
subscribers in the fiscal first quarter ended 30
June 2014, taking its total digital cable base to
8.15 million. In Phases I and II, Hathway has
seeded 7.6 million set-top boxes (STBs).
The expansion of the subscriber universe came
mainly on the back of additions in Eastern
India. As of 30 June, Hathway’s total cable
universe stood at 11.70 million subscribers.
Hathway’s pay cable subscribers were 6.40
million, while home broadband passed 1.80
million subscribers and broadband subscribers
stood at 0.42 million.
Carriage revenue at Rs 78 crore in Q1
Hathway’s carriage (placement fees) revenue
stood at Rs 78.2 crore (Rs 782 million) in the
June quarter. Carriage accounted for 31 per
cent of the MSO’s total revenue.
Operating revenue for the first quarter,
however, fell 14.5 per cent quarter-on-quarter
to Rs 250.22 crore (Rs 2.50 billion). This was
largely due to lower activation income as
deployment of set-top boxes (STBs) was
slower. Collection from activation charges
totalled Rs 41.6 crore (Rs 416 million) in the
June quarter.
Hathway’s subscription revenue stood at Rs
111 crore (Rs 1.11 billion) in the first quarter
of the current fiscal.
Delays in the implementation of DAS in Phase I
and Phase II metros, executing contracts with
the subscribers and implementation of revenue
sharing with the local cable operators (LCOs)
impacted Hathway’s revenue numbers.
Hathway managed to cut net loss to Rs 9.25
million in Q1FY15, helped by a change in
depreciation provisioning. In the quarter ended
March 2014, it had recorded net loss at Rs
49.26 crore (Rs 492.6 million).
Hathway’s standalone operations are well
ahead of its joint ventures, subsidiaries or
associate companies, believes the management.
For the quarter under review, Hathway’s
operating profit (EBITDA) stood at Rs 43.9
crore (Rs 439 million), while its economic
interest in the EBITDA of its several
subsidiaries/JVs/associate companies would
aggregate to about Rs 50 crore (Rs 500
million).
Considering its large standalone business, the
management believes that Hathway’s economic
interest in digital subscriber base during
Phases I and II to be significantly ahead of the
competition.
Its standalone net debt as on 30 June 2014
stood at Rs 1,084.5 crore (Rs 10.85 billion).
Broadband business gains traction
Hathway’s broadband business achieved a
growth trajectory, helped by Docsis 3.0
services currently offered by the MSO in
Mumbai, Pune, Hyderabad and Banglore. It
plans to launch Docsis 3.0 in Delhi and Kolkata
soon.
Owing to Docsis 3.0 technology, Hathway
added 47,000 customers in the first quarter of
fiscal 2015. It hopes to close July 2014 with a
customer base of 60,000. Its offering of 50
MBPS Docsis 3.0 services, packaged with data
plans ranging from 10 GB to 50 GB per month,
at a competitive price point (Rs 600–Rs 1,500),
is boosting its broadband revenue.
Hathway’s broadband revenues in Q1FY15
expanded 33 per cent year-on-year to Rs 41.6
crore (Rs 416 million), while the segment
recorded 23 per cent increase in ARPU.
Meanwhile, Hathway has convened an
extraordinary general meeting (EGM) of its
shareholders on 5 September 2014 to secure
approval for a preferential issue.
The company is raising Rs 300.8 crore (Rs 3.00
billion) from the Capital Group of the USA. The
funds are to be utilised mainly towards
strengthening broadband business and retiring
part of its debt.
Capital Group, having asset under management
of over $1.14 trillion, will be subscribing for
9.4 million equity shares at Rs 320.00 per
share (face value Rs 10.00 each and premium
of Rs 310.00) offered on a preferential basis.
Following the issue, Hathway’s paid-up and
subscribed equity capital would increase to Rs
161.39 crore (Rs 1.61 billion) comprising
16.14 crore equity shares.
Hathway MD & CEO Jagdish Kumar had earlier
told TelevisionPost.com that the amount raised
would be invested in broadband business. He
had also said that though Phases III and IV
were opening up, the company would wait for
the government’s indication of the deadline
before aggressively investing in digitisation. http://www.televisionpost.com/cable/hathways-q1-carriage-rev-at-rs-78-cr-adds-200000-subscribers/
