Mumbai headquartered cable television operator Hathway Bhawani Cabletel and Datacom Limited has reported financial reports for the period ended June 30, 2019. The company has posted a standalone net profit of Rs 71.80 Lakhs for the quarter ended June 30, 2019, as against a net loss of Rs 6.37 Lakhs for the quarter ended March 31, 2019.
Further, the company’s income from operations from standalone results was up 8.87 % at Rs 117.59 Lakhs in Q1 FY 19-20. In Q4 FY 18-19 the income operations were Rs 108.01 Lakhs. The company has reported EPS of Rs 0.88 for the period ending June 30, 2019, as compared to the Rs 0.08 for the period ended March 31, 2019.
Hathway Bhawani’s total expense for the period ending June 30, 2019, saw a reduction of Rs 30 Lakh as compared for the period ended March 31, 2019. Feed charges, operational expenses and other expenses reduced in Q1 FY 19-20.
Hathway Bhawani Cabletel and Datacom Limited share price are currently Rs 4.38, down Rs 0.23, or 4.99%, from its previous close of Rs 4.61 on the BSE.
Hathway Bhawani Cabeltel and Datacom is a Hathway subsidiary. Hathway owns a 51% stake in the company. Started in 1995, Hathway Bhawani provides Cable TV services in several cities. Hathway Bhawani is the largest Cable TV service provider to roll out Digital Cable TV services in cities viz: Mumbai, New Mumbai, Karjat, Mumbra. The company also provides broadband services.
Hathway to increase pace on expansion of FTTH services in FY 19-20
Hathway Bhawani’s parent company Hathway in FY19 focused on the expansion of FTTH services to more and more homes and launch of India’s first Cable Hybrid android set-top box, in partnership with Netflix. Hathway’s twin focus on taking FTTH to more and more homes and concurrently launching India’s first cable hybrid box is helping in converge linear TV-viewing with OTT usage as customers can access both services from a single smart box. This is also creating new levels of Home Broadband Consumption and helping it create a class of customers for whom Home Broadband is a must-have utility like water and electricity. Hathway will further be increasing pace on this momentum in FY 2019-20.
Launched on March 1, 2019, the Ultra Smart TV Hub simplifies the user experience for our customers, increasingly combining their linear TV viewing (Live TV playing all channels) with on-demand and streaming services. The user can select and download more than 2,000 Apps from Google Play, including play services, games, and music.Work on the full-scale implementation of the Hub is in progress, with 95% of customers already onboard terming it a revolution in the TV viewing experience.