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Hathway added 30k broadband subscribers in Q2FY18 but ARPU decline hits net profit

Internet and cable TV provider Hathway Cable’s broadband subscribers stood at 700,000 at the end of the quarter ended September 2017 (Q2FY17). This was an 11.1% increase from 630,000 in Q2FY17 and a rise of 6.06% from 660,000 in the preceding quarter. The company has added 30,000 subscribers in the quarter.

The number of homes passed stood at 4.8 million in the quarter, an increase of 23.07% from 3.9 million in Q2FY17. The number of homes passed is the potential number of premises to which an operator has the capability to connect in a service area, but the premises may or may not be connected to the network.

Data consumption per subscriber stood at 98 GB for the month of October. The company said that 45% of its consumers have monthly data limits of 1,000 GB. Note that Hathway has increased the minimum data limits to 200 GB across the country. Average speed in the quarter stood at 60 MBPS.

Hathway’s broadband segment reported revenues of Rs 131.2 crore during the quarter, an increase of 9.06% from Rs 120.3 crore in the same quarter last year. Sequentially, revenues increased 1.7% from Rs 129 crore. However, the ARPU for the company declined 3.1% YoY to Rs 717.

EBITDA during the quarter stood at Rs 59.8 crore a QoQ increase of 20% from Rs 50 crore. EBITDA margin stood at 44%. Net profit for the broadband segment stood at Rs 15.3 crore, a QoQ 44% decline from Rs 27.3 crore.

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Download: Quarterly report | Financials

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