14 Oct , 2024 By : Debdeep Gupta
Shares of Hathway Cable & Datacom jumped over 3 percent on October 14 after the cable television distribution company reported strong earnings for the quarter ended September 30, 2024 (Q2FY25).
Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India. It provides cable television services through its wholly-owned subsidiary — Hathway Digital Private.
Hathway Cable holds a PAN India ISP license and was the first cable television services provider to offer High-speed cable broadband services.
The company reported a 28.4 percent year-on-year (YoY) increase in net profit at Rs 25.8 crore. Its revenue from operations increased 6 percent YoY to Rs 512.7 crore during the quarter under review.
At the operating level, Hathway Cable's earnings before interest, tax, depreciation, and amortization (EBITDA) rose 4.4 percent YoY to Rs 86.3 crore during this period while the EBITDA margin stood at 16.8 percent compared to 17.1 percent in the corresponding period in the previous fiscal.
The company's revenue from the cable television segment stood at Rs 344.01 crore, rising 5.1 percent YoY. Its broadband business revenue, however, fell 3.43 percent YoY to Rs 151.09 crore. Hathway's revenue from dealing in securities came in at Rs 17.14 crore during the period under review.
At 11:45 am, Hathway Cable shares were trading 3.3 percent higher at Rs 20.77 on the National Stock Exchange (NSE). Despite the gain today, the stocks remain in red on a year-to-date basis, underperforming Nifty's returns of 14 percent.
In the last year, the counter has risen just 4 percent compared to Nifty's gain of 26 percent during this period.
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