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Hathway lost 30K broadband subscribers in Q1 FY19

Internet and cable TV provider Hathway Cable’s broadband subscribers stood at around 0.77 million for the quarter ended June 30, 2018 (Q1FY19), a marginal decrease of 3.7% from 0.80 million broadband subscribers in Q4FY18. The company lost about 30,000 subscribers in the quarter.

The number of ‘homes passed’ stood at 5.5 million for the quarter, an increase of 5.7% from 5.2 million in the preceding quarter. 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. Hathway claims 52% of the total MSO cable broadband market.

Data consumption per subscriber stood at 105 GB for the month of June 2018, up from 103 GB in March 2018, and 100 GB in December 2017. The company said that 59% of its consumers have monthly data limits of 1,000 GB (1 TB), and average speed in the quarter stood at 60 Mbps.

The Numbers

  • Total subscribers: 770, 000
  • Added subscribers:  (-)30,000
  • Average data consumption: 105 GB
  • Average speeds: 60 Mbps (it offers speeds of up to 200 Mbps)
  • Homes passed: 5.5 million

Financials

Broadband business contributes to about 36% of the company’s total revenues. Hathway’s broadband segment reported revenues of Rs 129.8 crore during the quarter, almost flat from Rs 129 crore in the same quarter last year, and down 11% from Rs 145.7 crore in the previous quarter.

The average revenue per user (ARPU) continued to decrease. It declined 5.4% year-on-year (YoY) from Rs 730 to Rs 690. Note that ARPU figures exclude tax. The company said that it reported a drop of Rs 20 in ARPU due to the realignment of product portfolio wherein low price plans also have higher GBs.

EBITDA during the quarter stood at Rs 55.3 crore, a YoY increase of 12% from Rs 49.2 crore in the same period last year. EBITDA margin stood at 43%. Net loss for the broadband segment stood at Rs 2.6 crore, as compared to net profit of Rs 12.6 last quarter and Rs 27.1 crore in Q1FY2018.

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