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Reliance Industries is preparing to sell 11.61 per cent of its stake in Hathway Cable & Datacom to comply with SEBI’s minimum public holding norms. Through offers for sale (OFS), Reliance plans to offload Hathway shares worth Rs 442 crore, bringing down its holding in the cable company to 75...
Multi-system operator Den networks has decided not to proceed with the scheme under which TV18 Broadcast, Hathway Cable & Datacom and Den Networks were to merge into Network18 Media & Investments.
Multi-system operator Den Networks has reported consolidated net profit at Rs 33.89 crore for the fourth quarter of financial year 2021 (FY21), a 50.56 per cent rise year-on-year basis.
During the Covid2019 outbreak last year, cable operators in India served the country’s entertainment and infotainment needs as an essential service. It was not easy to operate in a lockdown for an industry that involves huge on-ground operation as well as close contact with consumers.
On the back of strong performance in the fourth quarter of FY21, GTPL Hathway has posted Rs 599.1 crore revenue, up 29 per cent year-on-year. The pan-India multi system operator (MSO)’s revenue from operations for the last fiscal has gone up 22 per cent year-on-year to reach Rs 2148.4 crore.
