Hathway suffers a net loss of Rs 9.38 crores in Q1 FY 19-20

Hathway suffers net loss of Rs 9.38 crores in Q1 FY 19-20. Cable subscription revenue increases while broadband segment remains stagnant.

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By Basil Kannagi Arasu

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Hathway Cable and Datacom Limited (HCDL) on Friday announced its un-audited standalone and consolidated financial results for the quarter ended June 30, 2019.

Hathway has suffered a net loss of Rs 9.38 crores in Q1 FY 19-20 as against a net profit of Rs 6.61 crores in the preceding quarter. Revenue from operations increased to Rs 449.78 crores as compared to Rs 381.04 crores in the quarter ending March 31, 2019. Total income stood at Rs 506.68 crores, up by Rs 84 crores. While pay channel costs were reduced marginally, the company’s total expenses saw an increase of around Rs 84 crores.

Broadband segment revenue declined by Rs 0.6 crores. Cable television revenue stood at Rs 315.97 crores up from Rs 248.61 crores in the preceding quarter.

The company’s earning per share for Q1 FY 19-20 was Rs 0.05 against Rs 0.03 in the preceding quarter. 

While its subsidiaries GTPL Hathway and Hathway Bhawani along with sister company Den Network have reported good numbers, Hathway has a bad quarterly result. At the time of going to press, Hathway’s stock was trading at Rs 24.25, up by 7 % or Rs 1.60 as compared to the previous close of Rs 22.85 on the BSE.

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Basil Kannagi Arasu

News Reporter

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Basil likes to cover the latest happenings in the Media and Entertainment Industry in India. You can always find him browsing his phone.

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