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Q1-2016: Hathway YoY revenue up 6%; Broadband subscription revenue up 56%

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BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 5.7 per cent growth in standalone Total Income from Operations (TIO) in Q1-2016 (quarter ended 30 June, 2015, current quarter) to Rs 264,41 from Rs 250.11 crore in Q1-2015 and was 2.1 per cent lower than the Rs 270.03 crore in Q4-2015.

The company’s EBIDTA in the current quarter declined 25.4 per cent to Rs 32.73 crore (12.8 per cent margin) as compared to the Rs 43.87 crore (17.5 per cent margin) in the corresponding year ago quarter but was 5.7 per cent more than the Rs 30.98 crore (11.5 per cent margin) in the immediate trailing quarter.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

Hathway’s loss in the current quarter widened to Rs 43.91 crore as compared to the Rs 0.93 crore in Q1-2015, but was considerably lower than the Rs 76.99 crore in Q4-2015.

Subscription numbers

Hathway’s television subscription revenue in Q1-2016 declined five per cent to Rs 105.5 crore as compared to the Rs 111 crore in Q1-2015 and declined 12.7 per cent as compared to the Rs 120.9 crore in Q4-2015. The company says that it has deployed one lakh set top boxes, taking its digital subscriber base to 86 lakh or 72.9 per cent of its total cable TV subscriber base of 118 lakh in the current quarter.

Broadband subscription revenue in Q1-2016 at Rs 65.1 crore improved sharply by 56.5 per cent as compared to the Rs 41.6 crore in Q1-2015 and increased 12.8 per cent as compared to the Rs 57.7 crore in Q4-2015. The company says that it has added 50,000 broadband subscribers in Q1-2016, and claims a broadband subscriber base of 4.6 lakh, of which 1.7 lakh are under Docsis 3.0. Broadband ARPUs increased from Rs 530 to Rs 577 (exit Q1FY16) says Hathway.

Hathway reported Phase I ARPU at Rs 100 (net of tax) and Phase II ARPU at Rs 76 (net of tax) in the current quarter as compared to Rs 67 (net of tax) in Q4 FY15.

Let us look at the other numbers reported by Hathway

Hathway’s standalone Total Expenditure in Q1-2016 increased 14.5 per cent to Rs 290.87 crore (110 per cent of TIO) as compared to the Rs 254.10 crore (101.6 per cent of TIO) in Q1-2015 but was 5.5 per cent lower than the Rs 307.66 crore (113.9 per cent of TIO) in Q4-2015.

Standalone Pay Channel cost in Q1-2016 increased 8.8 per cent to Rs 93.32 crore (35.3 per cent of TIO) as compared to the Rs 85.81 crore (34.3 per cent of TIO) in Q1-2015 but was 13.1 per cent lower than the Rs 107.34 crore (39.8 per cent of TIO) in Q4-2015.

Employee Benefit Expense in Q1-2016 increased 18.3 per cent at Rs 17.21 crore as compared to the Rs 14.55 crore in Q1-2015, and increased 1.2 per cent as compared to the Rs 17.01 crore in Q4-2015.

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