Hathway Cable and Datacom Limited has released its consolidated and standalone unaudited financial results for the quarter and half year ended September 30, 2024. The financial results were reviewed by the Audit Committee and approved by the Board of Directors on October 11, 2024.
Key Highlights:
- Revenue: For Q2 FY24, the company reported consolidated revenue from operations of ₹512.74 crores, a slight increase from ₹502.61 crores in the previous quarter. Revenue for the half year stood at ₹1,015.35 crores, compared to ₹983.02 crores in the corresponding period last year.
- Profit Before Tax: Hathway posted a profit before tax of ₹39.88 crores for Q2, a notable rise from ₹25.29 crores in the previous quarter. Half-yearly profit before tax was ₹65.17 crores.
- Profit After Tax: The net profit for Q2 FY24 was ₹25.78 crores, up from ₹18.32 crores in Q1. Half-year profit after tax stood at ₹44.10 crores, compared to ₹42.39 crores in the same period last year.
- Total Comprehensive Income: Hathway’s total comprehensive income for Q2 was ₹25.93 crores, an increase from ₹18.49 crores in Q1. For the half year, total comprehensive income reached ₹44.42 crores.
Key Financial Metrics:
- Operational Expenses: The company incurred operational expenses of ₹244.47 crores in Q2 FY24, reflecting an increase from ₹238.56 crores in Q1.
- Depreciation and Amortization: The depreciation and amortization expense for Q2 remained steady at ₹80.79 crores, totaling ₹161.58 crores for the half year.
Business Segments:
- Broadband Business: The broadband business generated revenue of ₹151.59 crores in Q2, contributing significantly to the company’s total income. However, the segment’s performance showed a slight decline compared to the same period last year.
- Cable Television Business: Revenue from the cable TV business was ₹344.01 crores for Q2 FY24, up from ₹336.14 crores in the previous quarter.
Key Announcements:
- The company also revealed its intention to raise additional capital to support its expansion initiatives.
