Mumbai: Hathway Cable and Datacom Ltd reported gross revenue of Rs 1,793 crore in FY22 an increase of four per cent over FY21. Its broadband revenue stood at Rs 621.9 crore while CATV revenue stood at Rs 1171.1 crore for the financial year. The company reported profit after tax of Rs 130.4 crore a decline of 49 per cent year-on-year.
“The business model for the company was protected in spite of Covid-19 led movement restrictions and disrupted supply chains,” said the statement.
In its fourth quarter results, the company saw gross revenues of Rs 448.8 crore, an increase of two per cent year-on-year. Broadband revenue for the quarter stood at 157.1 crore and CATV revenue at Rs 291.7 crore. It saw profit after tax of Rs 28.4 crore in the quarter, a 16 per cent decline quarter-on-quarter.
CATV business highlights
The company reported 5.4 million set-top-box connections and more than 109 cities and major towns. “In the last two years, the company has created an extensive incremental infrastructure for market share gain. We have connected over 250 new locations with IP links,” said the statement. "Our product/go-to-market strategy/infrastructure ready for taking benefit of a more conducive market and business scenario with pandemic becoming more manageable. Set top box procurement and market share gain plans being rolled out.”
It further added, “The casting of OTT apps through already seeded new generation HD boxes is being piloted. This unique feature can give access to OTT to millions of Hathway Cable TV customers without any need to buy an additional OTT box. We have also piloted TV Plug. Using this Hathway can provide the most reliable last mile cable TV connectivity from a mobile tower network.
Hathway Cable has also launched a digital platform to enhance the competencies of partner local cable operators in the cable TV business.
ISP business highlights
The company’s subscription revenue stood at Rs 157.1 crore with an increase of 32K customers in Q4 FY22 led by strong FTTH customer acquisition. FTTH consumers now account for 70 per cent of overall ISP consumers. “The company saw subdued revenue growth on account of higher speed and unlimited data limits now available at lower ARPU plans at industry level,” said the statement.
The company reported 1.11 million broadband subscribers at the end of the fourth quarter FY22.