Hathway Cable Q2 Results: Net profit falls 33.7% to ₹20 crore, revenue up 2% YoY

Hathway Cable & Datacom Ltd announced its July-September quarter results on Tuesday, October 17, reporting a decline of 33.76 per cent in consolidated net profit of ₹20.03 crore, compared to ₹30.24 crore in the year-ago period.

The company's revenue from operations in the second quarter of current fiscal stood at ₹483.79 crore, registering a rise 2.23 per cent, compared to ₹473.22 crore in the year-ago period. 

Hathway Cable's revenue from the broadband business came in at ₹156.46 crore, while it earned ₹327.33 crore from the cable television business, according to a regulatory filing by the company to the stock exchanges.

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

The company's total expenses during the quarter-under-review stood at ₹494.02 crore, registering a year-on-year (YoY) growth of 2.96 per cent. The total income in the September quarter came in at ₹516.63 crore, up 2.95 per cent YoY.

In the preceding April-June quarter, Hathway Cable and Datacom reported a 6.6 per cent jump in consolidated net profit at ₹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.

Hathway Cable & Datacom Ltd, formerly BITV Cable Networks, is a cable television service operator based in Mumbai. It was the first company to provide Internet using the CATV network in India, and the first cable operator to launch a digital platform in 2006. 

The company is now one of the India’s leading cable broadband service provider. It also provides cable television services through its wholly owned subsidiary – Hathway Digital Limited, which is one of the largest multisystem operator in the country. Hathway Cable & Datacom is owned by billionaire Mukesh Ambani's Reliance Industries.

On Tuesday, shares of Hathway Cable & Datacom settled 0.50 per cent higher at ₹19.99 apiece on the BSE.