Hathway Q2 net loss at Rs 103 mn

MUMBAI: Hathway Cable & Datacom has posted a standalone net loss of Rs 103.18 million for the second quarter of this fiscal ended 30 September.

The multi-system operator (MSO) had posted a profit of Rs 40.39 million in the same quarter of the previous year.

Hathway‘s total income stood at Rs 1.28 billion, a marginal dip over the year-ago period (Rs 1.3 billion).
Total expense, however, rose to Rs 1.07 billion (from Rs 943.96 million in corresponding quarter of the previous fiscal).

The payout to pay channels during the three-month period stood at Rs 345.6 million, compared to Rs 280.33 million in the year-ago quarter.

Hathway‘s net loss can be attributed to depreciation/ amortization/ impairment which stood at Rs 252.70 million. The company also lost Rs 10.53 billion due to fluctuation of exchanges.

The MSO reported profit from operations (before other income, interest, depreciation and exceptional items) of Rs 218.28 million for the quarter under review. 
Hathway said that as per management estimates, its economic interest in the Ebitda of its several subsidiaries/JVs/associate companies for the quarter under review, would aggregate to approximately Rs 210 million based on the unaudited accounts of such entities.

The MSO disclosed that out of Rs 4.8 billion IPO money, it has utilised Rs 3.91 billion as on 30 September.

Hathway said that in anticipation of the Government‘s digitisation mandate, it has modernised its head ends in Mumbai, Delhi, Bangalore and Hyderabad by installing state-of-the-art technologies from Ericsson, UK. This implementation provides the company with enhanced capacities to carry additional channels at higher levels of quality.

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