Cable TV

Q2-2016: Hathway YoY revenue up 25.6%

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BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 25.6 per cent YoY growth in standalone Total Income from Operations (TIO) in Q3-2016 (quarter ended 31 December, 2015, current quarter) at Rs 300.43 crore as compared to Rs 239.15 crore and 9.6 per cent more than the Rs 270.03 crore in Q2-2016.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

All numbers in this report are standalone unless stated otherwise.

The company?s EBIDTA (excluding other income) in Q3-2016 more than doubled (by 2.02 times) YoY to Rs 49.81 crore (16.6 per cent margin) as compared to Rs 24.58 crore (10.3 per cent margin) and increased 45.8 per cent QoQ as compared to Rs 34.15 crore (12.5 per cent margin) in the immediate trailing quarter.

Subscription numbers, broadband, activation and placement revenue

Hathway says that its consolidated set top box (STB) deployment reached 96 lakh subscribers (Q3-2016 addition eight lakh) as on 31 December, 2015 and that 80 per cent of its cable universe is digitised.

Hathway consolidated broadband subscribers increased by 50,000 in Q3-2015 to 5.67 lakh.

Cable TV subscription revenue in Q3-2016 increased 9.1 per cent YoY to Rs 108  crore as compared to Rs 99 crore and was almost flat (increased by less than 0.5 per cent) QoQ as compared to Rs 107.5 crore.

Broadband subscription revenue in the current quarter increased 53.4 per cent YoY to Rs 78.7 crore as compared to Rs 57.7 crore and increased 9.5 per cent QoQ as compared to Rs 57.7 crore.

Activation revenue in Q3-2016 more than tripled (3.1 times) YoY to Rs 22.3 crore as compared to Rs 7.2 crore and was almost fivefold (4.7 times) of the Rs 4.5 crore in Q2-2016.

Placement revenue increased 8.4 per cent in the current quarter to Rs 82.2 crore as compared to Rs 75.8 crore in the corresponding prior year quarter, but declined 3.1 per cent as compared to Rs 84.8 crore in Q2-2016.

ARPUs

Net of taxes cable ARPU in Digital Addressable System (DAS) Phase I was Rs 102 and Phase II was Rs 83 as compared to Rs 100 and Rs 80 respectively in the immediate prior quarter.

Hathway broadband standalone ARPUs increased 3.8 per cent QoQ from Rs 658 to Rs 683.

Let us look at the other numbers reported by Hathway 

Hathway?s standalone Total Expenditure in Q3-2016 increased 14.5 per cent YoY to Rs 314.27 crore (104.6 per cent of TIO) from Rs 274.39 crore (114.7 per cent margin) and increased 4.3 per cent from Rs 301.40 crore (110 per cent of TIO) in Q2-2015.

Standalone Pay Channel cost in Q3-2016 increased 11.3 per cent to Rs 104.64 crore (34.8 per cent of TIO) from Rs 94.04 crore (39.3 per cent of TIO) and increased 6.5 per cent from Rs 98.27 crore (35.9 per cent of TIO) in Q2-2016.

Employee Benefit Expense in Q3-2016 increased 37.4 per cent YoY to Rs 19.19 crore (6.4 per cent of TIO) from Rs 13.96 crore (5.8 per cent of TIO) in Q3-2015 and increased 6.4 per cent from Rs 17.83 crore (6.5 per cent of TIO) in Q2-2016.

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