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Hathway reports improved standalone Q3 results

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BENGALURU: The demerged Hathway Cable and Datacom (Hathway) reported standalone profit after tax (PAT) of Rs 23.87 crore (17.2 per cent of operating revenue) for the quarter ended 31 December 2017 (Q3 2018, quarter under review), 70.4 per cent higher as compared to PAT of Rs 14.01 crore (10.7 per cent of operating revenue) in the immediate trailing quarter Q2 2018 (q-o-q).  It may be noted that Hathway’s numbers for Q3 2017 included both cable television and broadband numbers and hence, cannot be compared with Q3 2018 revenues that include only broadband revenue. Hence, Hathways numbers for the current quarter have been compared to its numbers from the immediate trailing quarter Q2 2018 (quarter ended 30 September 2017). As a matter of fact, after the transfer of Hathway’s cable television business as a slump sale since Q1 2018, the company has reported PAT for each quarter.

Hathway’s total revenue of Rs 144.53 crore for the quarter under review was 5.4 per cent more q-o-q than Rs 136.97 crore. Revenue from operations in Q3 2018 was 5.8 per cent higher q-o-q at Rs 138.61 crore than Rs 131.4 crore.

Hathway’s total comprehensible income (TCI) for the current quarter was 71.9 per cent higher q-o-q at Rs 24.01 crore as compared to Rs 13.98 crore. Simple operating EBIDTA for Q3 2018 at Rs 60.2 crore (43.3 per cent of operating revenue) was 14.2 per cent higher q-o-q than Rs 52.55 crore (40.1 per cent of operating revenue).

Hathway’s total expenditure in the quarter under review declined 1.9 per cent q-o-q to Rs 120.70 crore from Rs 123.07 crore. Finance costs in the current quarter declined 13.1 per cent q-o-q to Rs 17.54 crore from Rs 20.19 crore. Employee benefits expense in Q3 2018 increased 7.6 per cent q-o-q to Rs 11.33 crore from Rs 10.53 crore. Other expenses in the quarter declined 2.5 per cent q-o-q to Rs 34.20 crore from Rs 35.07 crore. Other operational expenses reduced 0.5 per cent in Q3 2018 to Rs 32.89 crore from Rs 33.06 crore.

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