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Hathway Cable spurts on turnaround Q1 numbers

Capital Market 

Hathway Cable & Datacom rose 5.16% to Rs 45.85 after consolidated net profit of Rs 66.06 crore in Q1 June 2020 compared with net loss of Rs 9.38 crore in Q1 June 2019.

Consolidated net sales slipped 6.7% to Rs 419.56 crore in Q1 June 2020 as against Rs 449.78 crore in Q1 June 2019. Pre-tax profit stood at Rs 80.36 crore in Q1 June 2020 compared with pre-tax loss of Rs 1.69 crore in Q1 June 2019. The result was announced after trading hours on Friday, 17 July 2020.

Revenue from the company's broadband business rose 9.49% to Rs 146.51 crore while revenue from the cable television business declined 13.58% to Rs 273.05 crore during the quarter.

On the technical front, the stock's RSI (relative strength index) stood at 73.476. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 29.75 and its 200-day moving average (DMA) placed at 21.72.

Hathway Cable and Datacom (Hathway) is one of the largest multi system operator (MSO) & cable broadband service providers in the country.

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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: Mon, July 20 2020. 13:33 IST