Hathway Cable records PAT of Rs 35 cr in Q4 FY24

The cable TV & fiber internet provider reported consolidated net profit of Rs 34.57 crore in Q4 FY24 as against net loss of Rs 14.62 crore posted in Q4 FY23.

Revenue from operations rose 7.35% year on year (YoY) to Rs 493.37 crore in the quarter ended 31 March 2024.

The firm reported profit before tax of Rs 45.59 crore in Q4 FY24 compared to a pre-tax loss of Rs 9.56 crore posted in Q4 FY23.

Total expenses increased 1.86% YoY to Rs 493.52 during the quarter. Pay channel cost was at Rs 230.46 crore (up 18.54% YoY) while other operational expenses was Rs 88.22 crore (down 15.71% YoY) and employee benefit expenses stood at Rs 22.56 crore (down 12.32% YoY) in Q4 FY24.

The company’s revenue from cable television segment stood at Rs 330.62 crore (up 10.05% YoY) while broadband business was at Rs 153.85 crore (down 3.34% YoY) and revenue from dealing in securities was Rs 8.90 crore during the period under review.

Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India.

Shares of Hathway Cable & Datacom rose 1.73% to close at Rs 21.12 on Tuesday, 16 April 2024. The domestic market is shut today on account of Shri Ram Navami. Business Standard