Cable TV

Hathway in the red due to higher expenses, forex loss in second quarter

Hathway in the red due to higher expenses, forex loss in second quarter

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/11/13/hat.jpg?itok=yTdHBWu7

BENGALURU: In the first quarter of the previous fiscal, restructuring at Indian multi system operator (MSO) Hathway Cable and Datacom Ltd (Hathway) had brought for it a positive bottomline. The pared company reported a profit of Rs 2.716 crore (including an exceptional item –gain from the sale of shares of Rs 1.713 crore) for the quarter ended 30 June 2017 (Q1 2018). The company improved its performance in the second quarter of the previous fiscal (Q2 2018) and reported profit after taxes of Rs 14.01 crore. However, in the quarter ended 30 September 2018 (Q2 2019, quarter under review), the company reported a loss of Rs 5.90 crore as compared to a loss of Rs 2.63 crore in the immediate trailing quarter (Q1 2019).

Higher expenses which included higher finance costs and higher forex losses were chiefly responsible for the loss, besides of course, the fact that the Jio juggernaut has steamrolled all kinds of broadband internet service providers. The company reported almost same operating revenue (0.5 percent lower) for Q2 2019 at Rs 130.55 crore as compared to Rs 131.15 crore in Q2 2018. Due to higher other income of Rs 7.63 crore in the quarter under review as compared to Rs 5.93 crore in Q2 2018, Hathway’s total income was 0.8 percent more y-o-y at Rs 138.18 crore as compared to Rs 137.08 crore.

Operating EBITDA during Q2 2019 at Rs 46.58 crore (35.6 percent of operating revenue) was 11.5 percent down y-o-y as compared to Rs 52.66 crore (40.2 percent of operating revenue).

Let us look at the other numbers reported by Hathway

Total expenditure in Q2 2019 was 144.08 crore or 110.4 percent of total income, 17.1 percent more than the Rs 123.07 crore (93.8 percent of operating revenue). Operating expenses in Q2 2019 was 5.4 percent lower y-o-y at Rs 31.10 crore (23.8 percent of operating revenue) as compared to Rs 32.89 crore (25.1 percent of operating revenue).

Employee benefits expense for the quarter was Rs 11.29 crore (8.6 percent of of operating revenue) which was 7.2 percent higher y-o-y as compared to Rs 10.53 crore (8 percent of of operating revenue). Finance costs in Q2 2019 at Rs 32.22 crore (24.7 percent of operating revenue) was 32.2 percent higher y-o-y than Rs 20.19 crore (15.4 percent of operating revenue) in Q2 2018.

Other expenses at Rs 41.48 crore (31.8 percent of operating revenue) was 18 percent higher y-o-y than Rs 35.07 crore (26.7 percent of operating revenue). Other expenses included a higher forex loss of Rs 7.2 crore in Q2 2019 as compared to a forex loss of Rs 1.28 crore in Q2 2018.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/06/vbs.jpg?itok=fQVBbLOg
The challenge of DD FreeDish and new tariff order for DPOs

With the emergence of a large number of OTT platforms and cord-cutting globally, the future of pay-TV looks bleak. The talk of the town is how pay-TV industry will manage to survive the crisis. Moreover, the new tariff order (NTO) in India is also set to overhaul the entire ecosystem.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/15/den.jpg?itok=vERCFpOP
Den reports improved numbers for Q2 over Q1

The Sameer Manchanda-led Indian cable distribution network and broadband internet services (broadband) provider Den Networks Ltd

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/grt.jpg?itok=OAWnlsvm
GTPL cable TV business revenue up in second quarter

Indian multi-system operator and internet service provider GTPL Hathway Ltd (GTPL) reported 13.8 percent increase in total income for the quarter ended 30 September 2018

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/10/dth.jpg?itok=zX4ravcq
Indian DTH equipments worth Rs 7.83 cr seized by Pakistan authorities

Pakistan authorities have seized a large quantity of smuggled Indian direct-to-home (DTH) equipment worth Rs 7.83 crore from various markets in a countrywide crackdown against illegal devices according to a report published by dawn.com.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/09/Vivek-Couto.jpg?itok=iqwcdf9q
Indian pay TV revenue to touch $16 bn by 2023: MPA

As per a new report by Media Partners Asia (MPA), the pay TV revenue in Asia will top $56 billion in 2018. This will continue to grow at 3 per cent CAGR till 2023 and likely to exceed $66 billion by then. Pay TV revenue consists of subscription fees and local and regional advertising sales.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/01/hinduja.jpg?itok=ZXqONP2o
Q2 results: Hinduja Ventures reports total income of Rs 26.72 crores

HVL on standalone basis reported a total income of Rs. 26.72 Crores for the half year ended September 30, 2018.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/24/Vynsley-Fernandes.jpg?itok=KbyFWkYU
IMCL aspires to hit 7 mn subscribers in a year

At a time when the face of India’s multi-billion dollar cable industry is changing rapidly with the emergence of new players, Indusland Media & Communication Ltd (IMCL), one of the oldest players in the industry, has announced a new offering ‘I Am Mumbai, I Am InDigital’.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/11/act.jpg?itok=jNeP51zC
ACT Fibernet seeks funding; discloses financials

In its prospectus with SEBI, ACT Fibernet submitted the financial details and is looking for fund-raising to expand the business across India. ACT Fibernet reported revenue of Rs 1,217 crore and EBITDA of Rs 211.67 crore in fiscal 2017.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/05/hathway.jpg?itok=3H7_WXyA
Hathway to target existing users for new OTT, cable hybrid STBs

Indian consumers are not losing interest in linear TV anytime soon but one can’t be too wary given the OTT burst. To stay ahead of the game, Hathway has unveiled two new products – an OTT set-top box and a cable hybrid box. Both of the boxes have been priced at Rs 2999.

Cable TV Local Cable Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories