Hathway Cable jumps after Q2 net loss narrows

Hathway Cable & Datacom rose 3.32% to Rs 23.35 after the company reported Q2 earnings after market hours yesterday, 16 October 2019.

On a consolidated basis, the cable broadband service provider reported a net loss of Rs 3.99 crore in Q2 September 2019 as against a net loss of Rs 73.23 crore in Q2 September 2018. Net sales rose 13% to Rs 442.11 crore in Q2 September 2019 over Q2 September 2018.

Total segmental revenue comes from the broadband business and the cable television business. The broadband business's revenue rose 6.74% to Rs 139.36 crore while the revenues from the cable television business jumped 16.19% to Rs 302.75 crore in Q2 September 2019 over Q2 September 2018.

 

The broadband business reported a net loss of Rs 25.10 crore in Q2 September 2019 as against a net profit of Rs 18.70 crore in Q2 September 2018. Cable television business reported a net profit of Rs 9.87 crore in Q2 September 2019 as against a net loss of Rs 39.85 crore in Q2 September 2018.

Meanwhile, the S&P BSE Sensex was up 71.64 points or 0.19% to 38,670.63.

On the BSE, 80,708 shares were traded in the counter so far compared with average daily volumes of 53,896 shares in the past two weeks. The stock hit a high of Rs 23.7 and a low of Rs 23.4 so far during the day.

The stock hit a 52-week high of Rs 38.6 on 22 Aug 2019. The stock hit a 52-week low of Rs 17.55 on 06 Aug 2019.

Hathway Cable and Datacom (Hathway) is one of the largest multi system operator (MSO) & cable broadband service providers in the country. Hathway holds a PAN India ISP license and is the first cable television services provider to offer broadband internet services.

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