Hathway Q3 net loss widens to Rs 182.8 mn

MUMBAI: Hathway Cable & Datacom has posted a standalone net loss of Rs 182.78 million for the fiscal third-quarter ended 31 December 2011.

The multi-system operator (MSO) had reported a net loss of Rs 124.04 million in the corresponding quarter of the previous fiscal.

In the trailing quarter, the net loss was at Rs 103.18 million.

Total income from the operations rose 7.68 per cent to Rs 1.28 billion, compared to Rs 1.18 billion in the year-ago period. However, on Q-o-Q basis, it remains almost flat.

Hathway’s expenditure during the quarter went up by 6 per cent to Rs 1.05 billion, from Rs 986.57 million in the corresponding quarter of the previous fiscal. In the second quarter of the fiscal, expenses were at Rs 1.07 billion.

Hathway’s profit from operations (before other income, interest, depreciation and exceptional items) jumped to Rs 230.38 million, compared to Rs 198.95 million in the earlier year.

As of 31 December 2011, the company has invested Rs 4.24 billion out of the total proceeds of the Rs 4.80 billion IPO. It has spent Rs 2 billion for investments in development of digital capital, expenditure, services and set-top boxes along with development of broadband infrastructure, capital expenditure and services. It has also spent Rs 1.89 billion for repayment of loans and Rs 122.85 million in acquisition of customers.

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