Hathway Cable Reports 57.09% Fall In Consolidated Net Profit, Check Stock Price

Hathway Cable & Datacom Ltd. published its quarterly report today, on July 20, stating a 57.09% fall in its consolidated net profit to Rs. 20.97 crore inQ1FY23. According to a PTI report, "The company had posted a net profit of Rs. 48.88 crore in the April-June period a year ago, Hathway Cable & Datacom said in a BSE filing. However, its total income was inched 1.32% higher to Rs. 447.18 crore against Rs. 441.33 crore in the corresponding quarter preceding fiscal. Hathway Cable's total expenses increased 6.51% to Rs. 451.33 crore in Q1 FY 2022-23 compared to Rs. 423.72 crore."

The company's stock price closed at Rs. 16.75 as of July 20, gaining marginally by 0.90%. Its share price has also gained only by 0.60% in the past 5 days. However, the company has mostly performed poorly in the past one year. In the last 6 months it fell 23.52%, and in the last 1 year fell 34.95%. But, in 2020, during May-June, its share price surged significantly. So, investors should be cautious.