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Q3FY19: Hathway Cable reports Rs 134.85 Cr in revenues, 780K broadband subscribers

Hathway Cable reported standalone operational revenues of Rs 134.85 crore for the quarter ended December 31, 2018, this is largely stagnant year-on-year from Rs 138.65 crore in Q3FY18, and Rs 130 crore in the preceding quarter. The company also reported a 73% year-on-year fall in net profit to Rs 6.44 crore from Rs 23.87 crore in Q3FY18.

Broadband

Subscription revenue was Rs 134.9 crore in this quarter, up 3% over the preceding quarter, and down 3% YoY from Rs 138.7 crore in Q3FY18.

  • 780,000 broadband subscribers, 5% YoY growth
  • 5.54 million homes passed, across 16 cities
  • 15,000 net additions on QoQ basis
  • 40% increase in bandwidth/consumer over the last 9 months
  • Monthly data consumption: 113 GB per consumer per month
  • 50% consumers go over 80 GB per month data consumption
  • Monthly data consumption in Chennai is 167 GB per consumer per month as it is a pure FTTH market
  • 300 mbps is the maximum speed offered, average speed offered was 60 mbps

Financials:

  • Broadband EBITDA: Rs 51.3 crore
  • Operation margin: 38%
  • ARPU: Rs 700

Cable

Cable subscription revenue was Rs 166.3 crore reporting a 12% YoY increase from Rs 148.3 crore in Q3FY18. Operating EBITDA stood at Rs 36.1 crore this quarter.

  • 1 million cable set-top boxes across 350 locations
  • Claims to capture 52% of the MSO cable broadband market
  • 298,000 HD subscribers, up from 200,000 subscribers in Q3FY18, and 262,000 subscribers in Q2FY19
  • 67% of subscribers served via Hathway Connect, and 57% online payments from LCOs

Download: Financials | Presentation

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