Hathway Cable & Datacom Q4 Net Loss At Rs 14.61 Cr

Hathway Cable & Datacom Ltd, a provider of Cable TV & Fiber internet services, on Monday reported a consolidated net loss of Rs 14.61 crore for the fourth quarter that ended March 31, 2023. The company had posted a net profit of Rs 28.42 crore in the January-March period a year ago, Hathway Cable & Datacom said in a BSE filing. However, its revenue from operations was at Rs 459.59 crore, up 2.40 per cent, as against Rs 448.79 crore in the corresponding quarter last fiscal.

Its revenue from the broadband business was at Rs 159.16 crore and Rs 300.43 crore from the Cable TV business in the fourth quarter. Hathway Cable's total expenses in Q4/FY23 were up 8.24 per cent to Rs 484.49 crore. Its consolidated net profit for the financial year ended March 31, 2023, declined 49.85 per cent to Rs 65.37 crore. It was Rs 130.35 crore in FY22.

Hathway Cable's revenue from operations was up 3.64 per cent to Rs 1,858.44 crore in FY23 from Rs 1,793.02 crore a year ago. Meanwhile, the board of Hathway Cable & Datacom in a meeting held on Monday appointed Tavinderjit Singh Panesar as the Chief Executive Officer of the company. Shares of Hathway Cable & Datacom Ltd on Monday settled at Rs 13.28 on BSE, down 1.56 per cent from the previous close.

(PTI)