Cable TV
Hathway reports 19.6 per cent y-o-y revenue growth, lower loss in Q2-2015
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 5.3 per cent growth in Q2-2015 with total Income from Operations (TIO) of Rs 263.51 crore versus the Rs 250.22 crore in Q1-2015 and 19.6 per cent more than the Rs 220.28 crore in Q2-2014. HY-2015 TIO at Rs 513.73 crore was 11.9 per cent more than the Rs 459.23 crore in HY-2014.
The company reported loss of Rs 39.26 crore in Q2-2015, as compared to the loss of Rs 0.927 crore in the immediate trailing quarter. The current quarter’s loss was lower than the loss of Rs 44.45 crore for Q2-2014. The company’s HY-2015 (year to date) loss increased slightly to Rs 40.19 crore from Rs 39.13 crore in HY-2014.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Hathway’s EBIDTA calculated based on the figures submitted by the company in Q2-2015 fell 8.8 per cent to Rs 40.03 crore (15.2 per cent of TIO) from Rs 43.87 crore (17.5 per cent of TIO) in Q1-2015 and was 4.2 per cent more than the Rs 38.41 crore (17.4 per cent of TIO) in Q2-2014. EBIDTA for HY-2015 fell 30.6 per cent to Rs 83.9 crore (16.3 per cent of TIO) from Rs 120.80 crore (26.3 per cent of TIO) in HY-2014.
Let us look at the other figures reported by Hathway:
Total Expenditure (TE) in Q2-2015 at Rs 274.27 crore (104.1 per cent of TIO) was 7.9 per cent more than the Rs 254.1 crore in Q1-2015 and was 17.6 per cent more than the Rs 233.19 crore in Q2-2014. HY-2015 TE at Rs 528.37 crore (102.9 per cent of TIO) was 22.5 per cent more than the Rs 431.29 crore in HY-2014.
A major fraction of TE is the pay channel cost for Hathway. The company’s pay channel cost in Q2-2015 at Rs 96.81 crore (36.7 per cent of TIO) was 12.8 per cent more than the Rs 85.81 crore (34.3 per cent of TIO) in Q1-2015 and 41.7 per cent more than the Rs 68.30 crore (31 per cent of TIO) in Q2-2014. HY-2015 pay channel cost at Rs 182.61 crore (35.6 per cent of TIO) was 44.1 per cent more than the Rs 126.75 crore in HY-2014.
The company reported 6.3 per cent higher depreciation and amortization expense (depreciation) in Q2-2015 at Rs 50.78 crore versus the Rs 47.75 crore in Q1-2015 and was 1.1 per cent lower than the Rs 51.32 crore in Q2-2014. Depreciation in HY-2015 at Rs 98.54 crore was 6.1 per cent more than the Rs 92.86 crore in HY-2014.
Hathway’s finance cost in Q2-2015 at Rs 30.39 crore (11.5 per cent of TIO) was 4.2 per cent more than the Rs 29.17 crore (11.7 per cent of TIO) and was 28.2 per cent more than the Rs 23.71 crore (10.8 per cent of TIO) in Q2-2014. Finance cost for HY-2015 at Rs 59.56 crore (11.6 per cent of TIO) was 31.4 per cent more than the Rs 445.32 crore (9.9 per cent of TIO) in HY-2014.
Employee Benefit Expense (EBE) in Q2-2015 was Rs 16.03 crore, for Q1-2014 it was 14.55 crore and for Q2-2014 it was Rs 14.58 crore.
Hathway says that it is continuing aggressive plans to digitise its CATV customer base and has further seeded 250,000 boxes in the current quarter taking its digital subscriber base to 84 lakh and has seeded nearly 72 per cent of its subscriber base. It says that it has nearly 700,000 STB’s in stock.
The company says that its content deals with the major broadcasters is in place now and it will use the stability in its content contracts to push for an increase in the ARPU realised from the markets it serves. While ARPU increase took a pause in current quarter, phase 1 ARPU remained close to Rs 90, while it was close to Rs 55 in the phase 2 areas.
Hathway has 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.
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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.
