Hathway Cable FY’11 revenue up 20% to Rs 8.8 bn

MUMBAI: Hathway Cable & Datacom has posted a consolidated operating profit of Rs 1.62 billion for the fiscal ended 31 March, up 25.68 per cent over the year-ago period, as carriage revenue continued to make significant gains.

India‘s leading multi-system-operator (MSO) has posted a profit before tax of Rs 19.8 million for the full-fiscal, as against a loss of Rs 605.4 million in FY‘10.
The turnover of the company jumped almost 20 per cent to Rs 8.83 billion, from Rs 7.36 billion in the previous fiscal.

Meanwhile, on a standalone basis, the company has posted a net loss of Rs 398.41 million for the full-fiscal, significantly lower than a net loss of Rs 835.03 million in the previous year.

Hathway‘s total income rose 17.77 per cent to Rs 4.73 billion, from Rs 4.02 billion a year ago.  
Total expense rose 15.38 per cent to Rs 3.83 billion, from Rs 3.32 billion in the previous fiscal.

The payout to pay channels during the fiscal stood at Rs 1.2 billion, slightly higher than the previous year (Rs 1.05 billion).

Profit from operations (before other income, interest, depreciation and exceptional items) was at Rs 898.12 million (from Rs 694.89 million).

Meanwhile, for the three-month period ended 31 March, the standalone net loss widened to Rs 175.48 million, from Rs 99.34 million in the corresponding quarter of the previous fiscal.

"The content cost rose in the fourth-quarter because of the Viacom18 deal which was from retrospective effect. Our costs should stabilise," said Hathway Cable & Datacom MD and CEO K Jayaraman.

Total income stood at Rs 1.23 billion (from Rs 987 million), while expenses were at Rs 1.05 billion (from Rs 788.91 million).

Profit from operations (before other income, interest, depreciation and exceptional items) fell to Rs 187 million (from Rs 198.1 million).

Hathway disclosed that out of the Rs 4.8 billion IPO money, it has utilised Rs 2.88 billion as on 31 March 2011.

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