Hathway Cable & Datacom Shares Jump 9% As Business Returns To Profitability

On Monday, shares of Hathway Cable & Datacom Ltd surged as much as 8.7 percent to Rs 47.5 after it reported a consolidated net profit of Rs 66.06 crore for the April-June 2020 when compared to a net loss of Rs 9.8 crore in the same period a year ago.

Its consolidated net sales declined by 6.72 percent to Rs 419.56 crore from Rs 449.78 crore in June 2019.

The company's revenue from the broadband segment rose 9 percent while that from its cable TV business fell 14 percent year-on-year.

Operational performance remained strong with an EBITDA (earnings before interest, taxes, depreciation, and amortization) level of Rs 118.18 crore in the June-ended quarter, an increase of 26.88 percent from last year.

It is the second day of 9 percent gain in the stock. On Friday, ahead of Hathway Cable & Datacom Ltd announced of its financial results for the quarter, shares of the company closed 9.96 percent higher at Rs 43.60 on BSE.