wordpress blog stats
Connect with us

Hi, what are you looking for?

Hathway registers losses of Rs 5.9 Cr, Reliance’s open offer for majority acquisition

Hathway released its quarterly earnings for Q2FY19:

  • Revenues: Rs 138 crore, increasing marginally by 6% YoY from Rs 130 crore in Q2FY18
  • PAT: Loss of Rs 5.9 crore, from a profit of Rs 14 crore in Q2FY18

Hathway Broadband made no net subscriber additions in the quarter; the total number of broadband subscribers is stable at 770,000. Last quarter, the company had lost 30,000 subscribers. 72 lakh shares of Hathway’s parent company GTPL Hathway were sold, reducing the company’s stake in Hathway Cable to 37.2% from 50%.

Broadband

Total revenues from the segment remained more or less flat YoY at Rs 1,30 crore in the quarter. The broadband business has 770,000 subscribers in 16 cities, it gained 71,000 net subscribers in a year. The division registered losses ofRs 5.9 crore, from a Profit after Tax (PAT) of Rs 14 crorein Q2FY18.

  • Homes passed: 25,000 in this quarter, 5.5 million homes passed in total. The company investor presentation says the company will not expand home passes, and instead will focus on monetization of existing home passes.
  • Average speed of broadband service was 60 Mbps
  • ARPU: Fell to Rs 672 from Rs 717 in Q2FY19

Cable

Cable subscription revenues rose 18% YoY to Rs 1,66 crorefrom Rs 140 crore. The division earned a revenue of Rs 262 crore, marginally up from Rs 245 million in Q2FY18. The company has 7.1 million set-top-units (subscribers) in 350 locations in the country.

  • Operating EBITDA: Rs 37 crore, up by 13% YoY from Rs 33 crorein Q2FY18.

Reliance stake in Hathway

Reliance Industries (RIL) acquired a majority stake (51%) in Hathway (HCDL) for Rs 2,045 crore via preferential issue last month. It also acquired Den Networks.

RIL has now announced an open offer (pdf) via several of its subsidiaries (Jio Content Distribution Holdings Pvt. Ltd., Jio Internet Distribution Holdings Pvt. Ltd., and Jio Cable and Broadband Holdings Pvt. Ltd., RIL, among others) for acquisition of 46 crore equity shares of Hathway Cable & Datacomm Ltd., which comprises a stake of 26%. The offer was made for Rs 32.25 per share, and the total consideration stands at Rs 1488.83 crore.

Financials | Investor Presentation

Advertisement. Scroll to continue reading.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ