Hathway Cable & Datacom today reported widening of standalone loss at Rs 48.9 crore for second quarter ended September 2015.
The company had reported a net loss of Rs 39.3 crore during the corresponding period of previous fiscal.
Total income of the firm increase marginally at Rs 274 crore during the quarter under review as against Rs 263.5 crore earned by it in the same period of previous fiscal, it said in a BSE filing.
The company's average revenue per user (ARPU) increased on a quarterly basis to Rs 616 during July-September as against Rs 577 as of June 2015.
"Hathway Cable has partnered with Disney India for its smart games platform under active services," it added.
Also, at its board of directors meeting held today, the company considered a scheme of arrangement between itself, Hathway Broadband Private Limited (HBPL) and their respective shareholders to demerge, transfer and vest the ISP business of the company into HBPL with effect from April 1, 2015 for cash consideration (demerger).
"The consideration amount has been approved on the basis of the valuation report of an independent valuer," it added.
HBPL is a wholly owned subsidiary of the company.
The demerger will enable a focused attention on the ISP (internet service provider) business and achieve structural and operational efficiency, enhanced competitiveness, and greater accountability, it added.
"The demerger will be subject to receipt of requisite approvals from the shareholders, creditors."
Further, the board of directors has also considered for re-appointment of Jagdishkumar G Pillai as Managing Director & CEO for a period of 2 years with effect from December 21, 2015.
