Hathway posts net loss of Rs 43.91 cr in Q1 FY16

Subscription revenues for Q1 FY16 stood at Rs 105.5 crore, a growth of 10 per cent YoY. Broadband revenues registered a growth of 56 per cent YoY at Rs 65.1 crore

BestMediaInfo Bureau | Delhi | August 12, 2015

Hathway Cable and Datacom has reported a net loss of Rs 43.91 crore for the first quarter ended June 30, 2015, as against a net loss of Rs 0.92 crore in the corresponding quarter of the previous fiscal.

Operating income for Q1 FY16 registered a growth of 6 per cent at Rs 264.41 crore from Rs 250.21 crore in Q1 FY15.

Subscription revenues for this quarter stood at Rs 105.5 crore, a growth of 10 per cent YoY. Broadband revenues registered a growth of 56 per cent YoY at Rs 65.1 crore.

The marginal increase in operating income notwithstanding, Hathway's total expenses for Q1 FY16 stood at Rs 290.47 crore, an increase of 14 per cent over the expenses incurred in the corresponding quarter last fiscal, where the figure stood at Rs 254.41 crore.

Among this expense, Hathway had to spend Rs 93.31 crore to broadcasters for pay channel cost, as opposed to the Rs 85.80 crone it spent in Q1 FY15.

The company has received approval from the FIPB (Foreign Investment Promotion Board) for an increase in the FII/ FPI holding to 74 per cent from the current level of 49 per cent.

Info@bestmediainfo.com

Info@BestMediaInfo.com