Cable TV

Hathway profits up on lower revenue in second quarter

Y-o-y PAT was up, but was down q-o-q; CATV revenue was up q-o-q

BENGALURU: The Mukesh Dhirubhai Ambani controlled MSO and broadband internet services provider Hathway Cable and Datacom Limited (Hathway) reported consolidated profit after tax (PAT) at Rs 52.33 crore for the quarter ended 30 September 2020 (Q2 2021, quarter or period under review) against loss of Rs 2.42 crore for the corresponding year-ago quarter Q2 2020 (y-o-y). PAT for the period under review was 20.8 percent lower quarter-on-quarter (q-o-q) than the Rs 66.06 crore the company had posted for the immediate trailing quarter Q1 2021. However, consolidated operating EBDITA for the period under review at Rs 120.39 crore (27.9 percent of operating revenue) grew 14.7 percent y-o-y from Rs 105.71 crore (23.8 percent of operating revenue) and was also 1.9 percent higher q-o-q than the Rs 118.18 crore (28.2 percent of operating revenue) in Q1 2021.

Hathway’s consolidated operating revenue fell 2.5 percent y-o-y in Q2 2021 to Rs 431.24 crore from Rs 442.11 crore in Q2 2020, but was 2.8 percent higher q-o-q than Rs 419.56 crore. Consolidated total income (total revenue) during the quarter fell 9.8 percent y-o-y to Rs 460.66 crore from Rs 510.77 crore, and was 5.6 percent lower q-o-q than Rs 488.22 crore.

Broadband and CATV segment numbers for Q2 2021

Hathway has two major segments – broadband internet services (BB) and cable television or CATV.

BB segment saw operating revenue increase 10 percent y-o-y in Q2 2021 to Rs 153.34 crore from Rs 139.36 crore in the corresponding year ago quarter and grew 4.7 percent q-o-q from Rs 146.51 crore in Q1 2021. The segment’s operating result (operating profit) in Q1 2021 was Rs 6.68 crore as compared to an operating loss of Rs 25.10 crore in Q1 2020, but was 14.8 percent lower than the operating profit of Rs 7.84 crore in Q1 2021.

CATV segment revenue declined 8.2 percent y-o-y in Q2 2021 to Rs 277.90 crore from Rs 302.75 crore in Q2 2020, but was 1.8 percent more q-o-q than the Rs 273.05 crore for Q1 2021 The segment reported more than two-fold increase in operating result (operating profit) – which grew 116 percent y-o-y in Q2 2021 to Rs 21.32 crore from Rs 9.87 crore in Q2 2020 and was 25 percent higher q-o-q than Rs 17.06 crore in the immediate trailing quarter/

Let us look at the other numbers reported Hathway for Q2 2021

All numbers in this report are consolidated unless stated otherwise.

Total expenditure in Q2 2021 declined 19.9 percent y-o-y to Rs 407.90 crore from Rs 509.50 crore in the corresponding period of the previous year and was 4.7 percent lower q-o-q than Rs 427.92 crore in Q1 2021.

Pay channel cost during the quarter under review declined 4.4 percent y-o-y to Rs 132.46 crore from Rs 138.55 crore, but was almost flat (up 0.2 percent) q-o-q as compared to Rs 132.18 crore for Q1 2021. Employee cost in Q2 2021 declined 3.6 percent y-o-y to 24.44 crore from Rs 25.36 crore, but was 0.6 percent higher q-o-q than Rs 24.30 crore in Q2 2020. Operational expenses in Q2 2021 grew 19.8 percent y-o-y to Rs 81.65 crore from Rs 68.18 crore and were 5.1 percent more q-o-q than Rs 77.67 crore in Q1 2021.

Finance cost was less than one-twelfth (declined 91.8 percent) y-o-y to Rs 4.27 crore from Rs 51.87 crore in the corresponding quarter of last year and was a little more than one-eighth (declined 87 percent) than the Rs 32.96 crore in Q1 2021. Other expenses in Q2 2021 declined 31.5 percent y-o-y to Rs 72.30 crore from Rs 105.01, but were 7.5 percent higher q-o-q than the Rs 67.23 crore in Q1 2021.

Latest Reads
Den Networks posts strong profit in Q3’21

NEW DELHI: Den Networks has reported total revenue of Rs 342 crore for the quarter ended 31 December 2020, up eight per cent on a year-on-year basis. During the same quarter last year, it clocked Rs 318 crore in revenue. Net profit rose 238.69 per cent to Rs 65.57 crore, as against Rs 19.36 crore...

Cable TV Local Cable Operators
GTPL Hathway posts Rs 553 crore consolidated revenue for Q3

Cable TV and broadband service provider GTPL Hathway reported its net profit rose 36.81 per cent to Rs 45.23 crore in the quarter ended 31 December 2020, as against Rs 33.06 crore for the same quarter in December 2019.

Cable TV Local Cable Operators
What will it take to make Indian CAS acceptable to MSOs?

Despite the overwhelming importance of Conditional Access System (CAS) in the overall content distribution network, there have been few discussions on CAS.

Cable TV Multi System Operators
Indian broadcasting & cable TV market to surpass $19 billion by 2026, says report

2020 was packed with unforeseen highs and lows for the Indian broadcasting and cable TV sector. From record viewership, to plummeting ad revenues, to the NTO 2.0 wrangle, the industry is still in a rather precarious position.

Cable TV Multi System Operators
‘Foes to friends’: NXTDigital ramps up focus on collaboration & infra sharing

With the evolution of the media and entertainment industry, the boundary between friends and foes is fading away. The future is not about competition, but collaboration for long term sustainability, NXTDigital media group CEO Vynsley Fernandes believes.

Cable TV Multi System Operators
LCOs fire back at TRAI for 'conduits' remark before Bombay HC

Local Cable Operators (LCOs) appear to be agitated with industry regulator Telecom Regulatory Authority of India (TRAI) for portraying them as ‘conduits’ between the multi-system operators (MSOs) and subscribers.

Cable TV Local Cable Operators
NXTDigital posts strong Q2 results

NEW DELHI: NXTDigital has posted a year-on-year EBITDA growth of 15.8 per cent at Rs 50.7 crores for the second quarter, an improvement of 2.7 per cent over the previous quarter.

Cable TV Multi System Operators
Zeel provisions for outstanding Siti Networks dues

The outstandings of Siti Networks and Dish TV has been one of the major concerns for Zee Entertainment Enterprises Limited (Zeel). While the DTH platform Dish TV is making payments on the line of the revised plan for recovering dues, Siti Networks has failed to play old subscription overdues.

Cable TV Multi System Operators
Airtel has perfected the LCO model for home broadband, says Gopal Vittal

Bharti Airtel (Airtel) is going head-to-head with archrival Jio in the home broadband segment by putting pedal to the metal on its expansion plans. While the company has seen record subscriber addition in September, it will keep focusing on LCO partnership model.

Cable TV Local Cable Operators

Sign up for our Newsletter

subscribe for latest stories

* indicates required