BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 1.9 per cent y-o-y growth in Q3-2015 with Total Income from Operations (TIO) of Rs 239.14 crore as compared to the Rs 234.78 crore but was 9.2 per cent lower than the Rs 263.51 crore in Q2-2015.

The company reported a higher loss of Rs 58.05 crore in Q3-2015 than the loss of Rs 36.86 crore in the corresponding year ago quarter and the loss of Rs 39.26 crore reported in Q2-2015.

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

Hathway’s EBIDTA calculated based on the figures submitted by the company (without other income) fell to Rs 24.58 crore (10.3 per cent of TIO) in the current quarter as compared to the Rs 36.74 crore (15.7 per cent of TIO) in Q3-2014 and also fell when compared to the Rs 40.03 crore (15.2 per cent of TIO) in the previous quarter.

Hathway’s income from operations consists mainly of subscription income from cable TV and broadband business, carriage and placement business, advertisement income, activation income from STB and other operating income.

In Q3-2015, the company’s cable business was 10.8 per cent lower at Rs 99 crore versus the Rs 111 crore in the previous quarter, placement income was down 8 per cent to Rs 75.8 crore from Rs 82.4 crore in Q2-2015, activation business at Rs 7.2 crore was less than a third of the Rs 22.2 crore in the immediate trailing, while broadband income, the only exception, was up 13 per cent at Rs 51.3 crore in the current quarter from Rs 45.4 crore in Q2-2015. The company says that placement revenues were affected due to content related issues in the current quarter that have since been resolved with the broadcasters.

Let us look at the other figures reported by Hathway:

Total Expenditure (TE) in Q3-2015 at Rs 274.39 crore (114.7 per cent of TIO) was 17.6 per cent more than the Rs 254.03 crore (108.2 per cent of TIO) in Q3-2014 and was almost same as the Rs 274.27 crore (104.1 per cent of TIO) in Q2-2015.

A major fraction of TE is the pay channel cost for Hathway. The company’s pay channel cost in Q3-2015 at Rs 94.04 crore (39.3 per cent of TIO) was 12.3 per cent more than the Rs 83.72 crore (35.7 per cent of TIO) in Q3-2014 and was 2.9 per cent lower than the Rs 96.81 crore (36.7 per cent of TIO) in the immediate trailing quarter.

The company reported 6.9 per cent higher depreciation and amortization expense (depreciation) in Q3-2015 at Rs 59.82 crore (25 per cent of TIO) versus the Rs 55.98 crore (23.9 per cent of TIO) and 17.8 per cent more than the Rs 50.78 crore (19.3 per cent of TIO) in Q2-2015.

Hathway’s finance cost in Q3-2015 at Rs 26.86 crore (11.2 per cent of TIO) was 19.5 per cent more than the Rs 22.48 crore (9.6 per cent of TIO) and 11.6 per cent lower than the Rs 30.39 crore (11.5 per cent of TIO) in Q2-2015.

Employee Benefit Expense (EBE) in Q3-2015 was Rs Rs 13.96 crore, in Q3-2014 EBE was Rs 13.79 crore and in Q2-2015 it was Rs 16.03 crore.

While Hathway’s cable universe subscription numbers and cable paying subscribers remained stagnant at 1.17 crore  and 64 lakh respectively in Q3-2015 as compared to Q2-2015, Hathway has seeded 70000 set top boxes in Q3-2015, taking its digital subscription base to 85 lakh. Further, the company’s broadband home passed and broadband subscribers increased by 5000 and 10000 to 2 lakh and 4.3 lakh respectively, in Q3-2015 as compared to the previous quarter. Hathway also informs that it has about 600,000 STB’s in stock and plans to seed them at a rapid rate.

Earlier, Hathway had informed BSE that the Board of Directors of the Company at its meeting held on 13 November, 2014, inter alia, has considered and approved the subdivision of face value of Equity Shares into Equity Shares of smaller amount than is fixed in the Memorandum of Association; i.e. to subdivide 1(One) equity share of Rs 10/- each to 5 (Five) equity shares of Rs 2/- each, subject to approval of shareholders.