Hathway Cable reports consolidated revenue of Rs 447.2 crore in Q1

Hathway Cable and Datacom has reported consolidated revenue of Rs 447.2 crore for the quarter ended 30th June which is a 1.33% increase over Rs 441.3 crore in the corresponding quarter of the previous fiscal.

Cable TV revenue for the quarter stood at Rs 290 crore compared to Rs 288.59 crore while broadband revenue came in at Rs 157.2 crore against Rs 152.74 crore. In the cable TV segment, the company's subscription revenue was down 4% to Rs 174.7 crore while placement revenue jumped 19% to Rs 101.4 crore.

The cable and broadband company's EBITDA was down 19% at Rs 102.6 crore against Rs 127 crore. Net profit nosedived 57% to Rs 21 crore from Rs 48.9 crore.

Hathway has 5.5 million active STBs with 96% collection happening online. Its broadband subscriber base stood at 1.12 million with 5.7 million broadband homes passed in 22 cities.

The company said it has piloted casting of OTT apps through already seeded new generation HD boxes. This unique feature, it added, can give access of OTT to millions of Hathway Cable TV customers without any need to buy additional OTT boxes.

It also piloted TV Plug which will the company to provide reliable last-mile Cable TV connectivity from a Mobile Tower Network.

During the quarter, the company undertook targeted marketing campaigns with underlying themes like Monsoon Campaign, and DTH Conversion Campaign in multiple vernaculars across key markets for greater traction in customer interest & conversion.

It also launched LightHouse App to enhance the competencies of our partner LCOs in the Cable TV business.

In the broadband segment, the company completed next-generation DOCSIS upgradation in all cities resulting in an 80% decline in Docsis speed complaints. Further, 65% of DOCSIS consumers have been upgraded to 100 Mbps speed plans.

It also noted that the introduction of CCMTS and other Network Improvements have helped in reducing repeat complaints from 18 in Q1 FY22 to 13 in Q1 FY23. Further, the FTTH capacity was augmented to accommodate additional 1.2 lakh consumers.