Shares of Hathway Cable & Datacom rallied over 3 per cent 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 Pvt.
Hathway Cable has an all-India ISP license and was the first cable television service provider to offer high-speed cable broadband services.
The company said its net profit grew 28.4 per cent to Rs 25.8 crore in the same quarter last year. Its revenue from operations grew 6 per cent to Rs 512.7 crore in the quarter under review.
At the operational level, Hathway Cable’s earnings before interest, tax, depreciation and amortization (EBITDA) during the period grew by 4.4 per cent to Rs 86.3 crore, while EBITDA margin stood at 16.8 per cent compared to 17.1 per cent in the same period last fiscal.
The company’s revenue from the cable television segment stood at Rs 344.01 crore, up 5.1 per cent from the same period last year. However, the revenue from its broadband business declined by 3.43 per cent to Rs 151.09 crore from the same period last year. Hathway’s revenue from securities trading stood at Rs 17.14 crore during the period under review.
At 11:45 am, shares of Hathway Cable were trading 3.3 per cent higher at Rs 20.77 on the National Stock Exchange (NSE). Despite today’s gain, the stock is in the red on a year-to-date basis, lagging the Nifty return of 14 per cent.
In the last one year, Nifty has gained only 4 per cent, whereas during this period Nifty has gained 26 per cent.
