Saturday, 31 May 2014

CQ- Hathway reports Q4 net loss at Rs 46 crore

Hathway Cable & Datacom has reported standalone net loss of Rs 49.27 crore (Rs 492.7 million) in the fiscal fourth quarter, wider than the preceding quarter’s loss of Rs 36.86 crore (Rs 368.6 million). 
Hathway deployed 0.1 million STBs during the quarter and has 7.8 million active digital subscribers. The company had deployed 2.5 million STBs in Phase I and 4.3 million in Phase II. Each Docsis 3.0 addition came at an ARPU of more than Rs 500. 
Hathway suffered a loss of Rs 20.80 crore (Rs 208.0 million) from operations, before other income finance costs and exceptional items. In the trailing quarter, the company had posted a loss of Rs 19.24 crore (Rs 192.4 million). For the earlier-year quarter, the company had clocked profit of Rs 44.30 crore (Rs 443.0 million). 
Standalone revenue surged 24.7 per cent quarter on quarter (QoQ) to Rs 292.72 crore (Rs 2.93 billion). However, the company failed to reap the benefits of this growth in revenue due to higher operating costs, mainly because of pay channel costs and other operating expenses. 
Hathway’s pay channel cost to broadcasters amounted to Rs 115.41 crore (Rs 1.15 billion), showing an increase of 37.8 per cent QoQ. They accounted for 37 per cent of the total expenses. 

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