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Hathway Cable jumps after turnaround Q3 results

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Hathway Cable & Datacom jumped 3.17% to Rs 22.75 after the company announced stellar Q3 2019 result after market hours yesterday, 16 January 2020.

On consolidated basis, the company reported a net profit of Rs 67.24 crore in Q3 December 2019 (Q3FY20) as against net loss of Rs 57.9 crore in Q3 December 2018 (Q3FY19). Net sales rose 12.3% to Rs 450.82 on year-on-year (YoY) basis.

Profit before tax (PBT) stood at Rs 51.5 crore in Q3FY20 as against loss of Rs 57.9 crore in Q3FY19. PBT surged 824% in Q3FY20 compared with Rs 5.6 crore in Q2 September 2019 (Q2FY20).

Subscription revenue (cable + broadband) stood at Rs 354.80 crore in Q3FY20 as against Rs 354.2 crore in Q2FY20 and Rs 300.80 in Q3FY19.

Consolidated EBITDA jumped 52% to Rs 128.8 crore in Q3FY20 as against Rs 84.5 crore in Q3FY19. EBITDA margin grew to 29% in Q3FY20 as against 21% in Q3FY19.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, January 17 2020. 09:33 IST