Hathway Cable Q2 operating loss at Rs. 129 mn as revenue falls

Hathway Cable & Datacom reported a 5.31 per cent drop in its standalone fiscal second-quarter revenue compared to the trailing three months. 

Income from operations stood at Rs. 220.28 crore (Rs. 2.20 billion) for the three-month period ended 30 September 2013, as against Rs. 232.65 crore (Rs. 2.33 billion) in the quarter ended 30 June. In the corresponding quarter of the previous fiscal, it had posted income of Rs. 132.48 crore (Rs. 1.32 billion). 

Hathway’s expenses jumped 17.71 per cent quarter-on-quarter to Rs. 233.19 crore (Rs. 2.33 billion), from Rs. 198.1 crore (Rs. 1.98 billion) in the trailing quarter. In the year ago period, expenses stood at Rs. 137.97 crore (Rs. 1.38 billion). 

Hathway’s pay channel cost increased to Rs. 68.3 crore (Rs. 683 million), up from Rs. 58.45 crore (Rs. 584.5 million) in the previous quarter. Other expenses rose to Rs. 98.12 crore (Rs. 981.2 million), from Rs. 83.67 crore (Rs. 836.7 million) in the trailing quarter. 

The increase in cost also affected operational profitability of Hathway. The MSO suffered a loss of Rs. 12.91 crore (Rs. 129.07 million) from operations, before other income finance cost and exceptional items. In the trailing quarter, the company had posted a profit of Rs. 34.55 (Rs. 345.48 million). For the earlier-year quarter, the loss was at Rs. 5.48 crore (Rs. 54.88 million). 

Hathway posted a net loss of Rs. 44.45 crore (Rs. 444.49 million) in the three months ended 30 September, compared to a net profit of Rs. 5.32 crore ( Rs. 53.23 million) in the trailing quarter. In the year-ago quarter, net loss stood at Rs. 1.78 crore (Rs. 17.84 million). 

Hathway offers cable television services across 140 cities and towns and cable broadband services across 21 cities. It has established 20 digital head-ends in the country.

Source: http://cablequest.org/news/cable-news/item/3565-hathway-cable-q2-operating-loss-at-rs-129-mn-as-revenue-falls.htmlSource: http://cablequest.org/news/cable-news/item/3565-hathway-cable-q2-operating-loss-at-rs-129-mn-as-revenue-falls.html