Hathway Cable & Datacom Ltd has reported strong financial results for the second quarter of FY24, posting a significant 28.4% year-on-year (YoY) increase in net profit. The company’s net profit reached ₹25.8 crore, compared to ₹20.1 crore in the corresponding quarter of the previous fiscal. These results underscore Hathway’s ongoing efforts to bolster its revenue streams and enhance its operational efficiency.

The company’s revenue from operations increased by 6%, rising from ₹484.8 crore in Q2 FY23 to ₹512.7 crore in Q2 FY24. This growth can be attributed to an increase in subscribers and improved performance across both its cable TV services and broadband offerings.

At the operating level, Hathway’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 4.4%, reaching ₹86.3 crore in the second quarter, up from ₹82.7 crore in the same period last year. However, the EBITDA margin saw a slight contraction, standing at 16.8% compared to 17.1% in Q2 FY23. Despite the marginal dip, the company maintained solid operational efficiency, which reflects its ability to manage costs and sustain profit margins amidst market competition.

Hathway Cable & Datacom is well-known for its cable television services, delivered through its wholly-owned subsidiary, Hathway Digital Private Limited. The company also holds a PAN India ISP license, making it a significant player in the broadband segment. Hathway was the first in the industry to offer high-speed cable broadband services, and it continues to expand its customer base by delivering reliable internet services.

The stock performance of Hathway Cable & Datacom Ltd also showed positive movement. After the financial results were announced, shares of the company closed at ₹20.08 on the Bombay Stock Exchange (BSE), reflecting an increase of ₹0.17 or 0.85%. The market response indicates investor confidence in the company’s financial performance and its potential for growth.

Key Financial Highlights:

* Net Profit: ₹25.8 crore, up 28.4% YoY from ₹20.1 crore in Q2 FY23.

* Revenue from Operations: ₹512.7 crore, a 6% growth from ₹484.8 crore in the corresponding period last year.

* EBITDA: ₹86.3 crore, up 4.4% from ₹82.7 crore in Q2 FY23.

* EBITDA Margin: 16.8%, down from 17.1% in Q2 FY23.

The rise in net profit and revenue reflects Hathway’s strategic initiatives to enhance its service offerings and retain a competitive edge in the fast-evolving cable and broadband market. The broadband segment, in particular, continues to be a key growth driver for Hathway, with increased demand for high-speed internet across India. The company’s broadband services have been particularly successful in meeting the growing needs of digital consumers.

Hathway’s future prospects appear bright as the company focuses on expanding its subscriber base, investing in technology upgrades, and diversifying its revenue streams. With its established presence in the cable and broadband sectors, Hathway is poised to benefit from the continued digital transformation in India.

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Hathway’s Q2 performance serves as a testament to its resilience in an industry undergoing rapid transformation. The company’s ability to consistently improve its financial metrics, despite slight dips in EBITDA margins, reinforces its commitment to delivering value to its shareholders and customers alike.

With its robust position in the broadband sector and continuing innovations in cable TV services, Hathway is set to play a pivotal role in India’s digital ecosystem.