Cable TV
Q2-2016: Hathway YoY revenue up 25.6%
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 25.6 per cent YoY growth in standalone Total Income from Operations (TIO) in Q3-2016 (quarter ended 31 December, 2015, current quarter) at Rs 300.43 crore as compared to Rs 239.15 crore and 9.6 per cent more than the Rs 270.03 crore in Q2-2016.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
All numbers in this report are standalone unless stated otherwise.
The company’s EBIDTA (excluding other income) in Q3-2016 more than doubled (by 2.02 times) YoY to Rs 49.81 crore (16.6 per cent margin) as compared to Rs 24.58 crore (10.3 per cent margin) and increased 45.8 per cent QoQ as compared to Rs 34.15 crore (12.5 per cent margin) in the immediate trailing quarter.
Subscription numbers, broadband, activation and placement revenue
Hathway says that its consolidated set top box (STB) deployment reached 96 lakh subscribers (Q3-2016 addition eight lakh) as on 31 December, 2015 and that 80 per cent of its cable universe is digitised.
Hathway consolidated broadband subscribers increased by 50,000 in Q3-2015 to 5.67 lakh.
Cable TV subscription revenue in Q3-2016 increased 9.1 per cent YoY to Rs 108 crore as compared to Rs 99 crore and was almost flat (increased by less than 0.5 per cent) QoQ as compared to Rs 107.5 crore.
Broadband subscription revenue in the current quarter increased 53.4 per cent YoY to Rs 78.7 crore as compared to Rs 57.7 crore and increased 9.5 per cent QoQ as compared to Rs 57.7 crore.
Activation revenue in Q3-2016 more than tripled (3.1 times) YoY to Rs 22.3 crore as compared to Rs 7.2 crore and was almost fivefold (4.7 times) of the Rs 4.5 crore in Q2-2016.
Placement revenue increased 8.4 per cent in the current quarter to Rs 82.2 crore as compared to Rs 75.8 crore in the corresponding prior year quarter, but declined 3.1 per cent as compared to Rs 84.8 crore in Q2-2016.
ARPUs
Net of taxes cable ARPU in Digital Addressable System (DAS) Phase I was Rs 102 and Phase II was Rs 83 as compared to Rs 100 and Rs 80 respectively in the immediate prior quarter.
Hathway broadband standalone ARPUs increased 3.8 per cent QoQ from Rs 658 to Rs 683.
Let us look at the other numbers reported by Hathway
Hathway’s standalone Total Expenditure in Q3-2016 increased 14.5 per cent YoY to Rs 314.27 crore (104.6 per cent of TIO) from Rs 274.39 crore (114.7 per cent margin) and increased 4.3 per cent from Rs 301.40 crore (110 per cent of TIO) in Q2-2015.
Standalone Pay Channel cost in Q3-2016 increased 11.3 per cent to Rs 104.64 crore (34.8 per cent of TIO) from Rs 94.04 crore (39.3 per cent of TIO) and increased 6.5 per cent from Rs 98.27 crore (35.9 per cent of TIO) in Q2-2016.
Employee Benefit Expense in Q3-2016 increased 37.4 per cent YoY to Rs 19.19 crore (6.4 per cent of TIO) from Rs 13.96 crore (5.8 per cent of TIO) in Q3-2015 and increased 6.4 per cent from Rs 17.83 crore (6.5 per cent of TIO) in Q2-2016.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
