Hathway Cable and Datacom Ltd Q1 Results: PAT rises by 6.6% to ₹22.36 crore

Hathway Cable and Datacom Ltd released its Q1 results on Monday and reported a 6.6% jump in consolidated net profit during Q1FY24. The company posted a net profit of ₹22.36 crore up from ₹20.97 recorded during the April to June period in FY23. The company jumped out of the loss of ₹14.61 crore recorded during the quarter ending March 2023.

The company reported an 11.63% jump in revenue from operation to ₹499.23 crore during the quarter under review as against ₹447.18 crore in the April-June period a year ago.

Segment-wise, the Broadband revenue of the company saw a marginal drop from ₹157.17 crore in Q1FY23 to ₹156.76 during the quarter ending June 2023. On the other hand, the cable segment of the company saw an 18% jump year on year as it increased from ₹290.1 crore in June 2022 to ₹342.4 crore in Q1FY24.

Currently, the consolidated total assets of the company stood at ₹4,975 crore which is higher than ₹4,707.67 crore reported during the quarter ending June 2022. The liabilities of the company have also increased from ₹572.12 crore in Q1FY23 to ₹768.18 crore in Q1FY24.

Net profit dropped during the previous fiscal

The net profit is good news for Hathway Cable and Datacom Ltd as the company reported a consolidated net loss of ₹14.61 crore during the quarter ending March 2023. However, its revenue during Q4FY23 was higher by 2.4% from ₹448.79 crore to ₹459.59 crore.

The net loss in the last quarter came as a hit for the company as its consolidated net profit for the fiscal year 2022-23 declined 48.85%. The company reported ₹65.37 crore during the previous fiscal down from ₹130.35 crore recorded during the fiscal year 2021-22.

The shares of Hathway Cable and Datacom Ltd was at ₹15.80 on BSE, up 3.4% from the previous close.