BENGALURU: The Mukesh Dhirubhai Ambani controlled MSO and broadband internet services provider Hathway Cable and Datacom Limited (Hathway) reported consolidated profit after tax (PAT) at Rs 52.33 crore for the quarter ended 30 September 2020 (Q2 2021, quarter or period under review) against loss of Rs 2.42 crore for the corresponding year-ago quarter Q2 2020 (y-o-y). PAT for the period under review was 20.8 percent lower quarter-on-quarter (q-o-q) than the Rs 66.06 crore the company had posted for the immediate trailing quarter Q1 2021. However, consolidated operating EBDITA for the period under review at Rs 120.39 crore (27.9 percent of operating revenue) grew 14.7 percent y-o-y from Rs 105.71 crore (23.8 percent of operating revenue) and was also 1.9 percent higher q-o-q than the Rs 118.18 crore (28.2 percent of operating revenue) in Q1 2021.
Hathway’s consolidated operating revenue fell 2.5 percent y-o-y in Q2 2021 to Rs 431.24 crore from Rs 442.11 crore in Q2 2020, but was 2.8 percent higher q-o-q than Rs 419.56 crore. Consolidated total income (total revenue) during the quarter fell 9.8 percent y-o-y to Rs 460.66 crore from Rs 510.77 crore, and was 5.6 percent lower q-o-q than Rs 488.22 crore.
Broadband and CATV segment numbers for Q2 2021
Hathway has two major segments – broadband internet services (BB) and cable television or CATV.
BB segment saw operating revenue increase 10 percent y-o-y in Q2 2021 to Rs 153.34 crore from Rs 139.36 crore in the corresponding year ago quarter and grew 4.7 percent q-o-q from Rs 146.51 crore in Q1 2021. The segment’s operating result (operating profit) in Q1 2021 was Rs 6.68 crore as compared to an operating loss of Rs 25.10 crore in Q1 2020, but was 14.8 percent lower than the operating profit of Rs 7.84 crore in Q1 2021.
CATV segment revenue declined 8.2 percent y-o-y in Q2 2021 to Rs 277.90 crore from Rs 302.75 crore in Q2 2020, but was 1.8 percent more q-o-q than the Rs 273.05 crore for Q1 2021 The segment reported more than two-fold increase in operating result (operating profit) – which grew 116 percent y-o-y in Q2 2021 to Rs 21.32 crore from Rs 9.87 crore in Q2 2020 and was 25 percent higher q-o-q than Rs 17.06 crore in the immediate trailing quarter/
Let us look at the other numbers reported Hathway for Q2 2021
All numbers in this report are consolidated unless stated otherwise.
Total expenditure in Q2 2021 declined 19.9 percent y-o-y to Rs 407.90 crore from Rs 509.50 crore in the corresponding period of the previous year and was 4.7 percent lower q-o-q than Rs 427.92 crore in Q1 2021.
Pay channel cost during the quarter under review declined 4.4 percent y-o-y to Rs 132.46 crore from Rs 138.55 crore, but was almost flat (up 0.2 percent) q-o-q as compared to Rs 132.18 crore for Q1 2021. Employee cost in Q2 2021 declined 3.6 percent y-o-y to 24.44 crore from Rs 25.36 crore, but was 0.6 percent higher q-o-q than Rs 24.30 crore in Q2 2020. Operational expenses in Q2 2021 grew 19.8 percent y-o-y to Rs 81.65 crore from Rs 68.18 crore and were 5.1 percent more q-o-q than Rs 77.67 crore in Q1 2021.
Finance cost was less than one-twelfth (declined 91.8 percent) y-o-y to Rs 4.27 crore from Rs 51.87 crore in the corresponding quarter of last year and was a little more than one-eighth (declined 87 percent) than the Rs 32.96 crore in Q1 2021. Other expenses in Q2 2021 declined 31.5 percent y-o-y to Rs 72.30 crore from Rs 105.01, but were 7.5 percent higher q-o-q than the Rs 67.23 crore in Q1 2021.
