Hathway Cable plunges 7% as Q2 net loss widens

NEW DELHI: Shares of Hathway Cable & Datacom slumped nearly 7 per cent in Monday’s trade after the company said its net loss for the September quarter widened to Rs 40.44 crore on a year-on-year basis.

The company had reported a net loss of Rs 31.99 crore in the corresponding quarter last year. Following the development, the stock tanked 6.79 per cent to hit a low of Rs 32.25 on BSE.

Sales for the quarter rose 18.59 per cent to Rs 318.84 crore. Ebitda margins stood at 17 per cent for the quarter, which were 100 basis points lower than 18 per cent reported for Q2 of FY16.


The company, meanwhile, added 1 lakh broadband subscribers, taking its total broadband subscriber base to 8 lakh users.

“The company has been gradually rolling out Hathway Connect across the areas it serves. With improving coverage of the totally digitized universe, there has been a gradual improvement in revenues. A total of 56 per cent of our subscriber base in Phase I & II are on Hathway Connect portal,” it said.