MUMBAI: The cable TV sector is under pressure in India is known to many and  a lot has been written about the rampant cord cutters and cord-nevers. But this is one multisystem operator which seems to be bucking the trend - the Reliance Industries-owned Hathway Cable & Datacom. 

At least that’s the first perception you get when you look at its financials for Q2FY2025 ended 30 September 2024, which were filed with the Bombay stock exchange on 11 October.

Revenue from operations is up to Rs 5127.4 million as against Rs 4837.9 million in the previous year’s corresponding quarter. Profit before tax  is at Rs 398.8 million compared to Rs 339.3 million (Q2 FY 2024). Net profit too has  risen to Rs 257.8 million (Rs 200.3 million) a 28.4 per cent increase. EBITDA during the quarter showed a bit of an uptick at Rs 859.9 million (Rs 826.3 million).

The company’s revenue from the broadband business for H1 FY2025 ended 30 September has slipped to Rs 3027.8 million (Rs  3132.2 million), even as it has risen for its cable TV business to  Rs 6801.5 million (Rs 6698 million).

On a quarterly basis for Q2 FY2025  there has been a drop in its broadband revenues to Rs 1515.9 million (Rs 1564.6 million in Q2FY 2024) while cable TV has shown an increase to Rs 3440.1 million (Rs 3273.3 million). However, margins seem to be getting squeezed in both these segments with its cable TV business turning up negative segment results at Rs 143.2 million (negative Rs 138.1 million in Q2 FY2024). Its broadband segment too has reported  lower results  at Rs 56 million (Rs  115.8 million). 

Picture courtesy Hathway Cable & Datacom Annual Report