Hathway Q1 net loss widens on digitisation

Mumbai: Increase in expenses for digitisation in the four metros and rising cost of borrowings has weighed down profitability of Hathway Cable & Datacom Ltd, a multi-system operator (MSO) with a national footprint.

Mumbai-based Hathway reported a loss of Rs 159 million in the first quarter ended June 30, 2012, 71 per cent more than in the previous quarter ended March 31, 2012 and 30 per cent higher than a year earlier. Loss of Rs 46 million on account of fluctuation in foreign exchange rates enlarged the loss in the first quarter.

HDFC Securities, in a research note, said increase in interest cost due to higher inventory of set-top-boxes (STBs) and increase in interest rates caused widening of Hathway‘s loss in the first quarter.

The company‘s finance cost in the first quarter was Rs 133.38 million, up 18 per cent from the previous quarter and 39 per cent from a year earlier.

In Mumbai, New Delhi, Chennai and Kolkata analog mode of delivery of television channels to homes will be phased out from November 1. Hathway has a total of 2.1 million subscribers in the four metros and has so far 1.1 million subscribers have been provided with set-top-boxes (STBs).

Hathway expects to install STBs at homes of another 0.7-0.9 million subscribers by the end of October 2012, according to a research note by Sunidhi Securities & Finance Ltd. Hathway also has 0.41 million broadband subscribers, with 7,000 added in the first quarter.

The company‘s revenues at Rs 1.36 billion in the first quarter were flat compared to the previous quarter and up 12 per cent from a year earlier, on the back of higher fee on activation of STBs and addition of broadband subscribers.

Its EBITDA in the first quarter at Rs 238 million was 2 per cent higher than in the previous quarter and up 25 per cent from a year earlier. Its EBITDA margins in the first quarter were 17.5 per cent, 29 basis points more than in the previous quarter and 187 basis points higher than a year earlier.

Latest Reads
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW ? a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India?s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India?s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ?FalconEye? to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights? OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo?s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo?s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories