Hathway Cable share price rises over 5% after Q2 profit jumps 29% YoY
Source: Business Standard
Hathway Cable & Datacom share price: Cable operator Hathway Cable & Datacom shares rose up to 5.07 per cent to hit an intraday high of Rs 21.10 per share on Monday, September 14, 2024.
Click here to connect with us on WhatsApp
The company’s profit rose 28.6 per cent year-on-year (Y-o-Y) to Rs 25.8 crore in the September quarter of financial year 2025 (Q2FY25), from Rs 20.06 crore in the same quarter a year ago (Q2FY24).
Hathway Cable & Datacom revenue from operations, or topline, rose over 5 per cent year-on-year to Rs 543.3 crore in the September quarter of FY25, from Rs 516.6 crore in the September quarter of FY24.
At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) soared 1.1 per cent annually to Rs 116.8 crore in Q2FY25, as against Rs 115.5 crore in Q2FY24. However, Ebitda margin, also known as operating profit margin, squeezed marginally (85 bps) to 21.5 per cent in Q2FY25, from 22.35 per cent in Q2FY24.
Hathway Cable & Datacom, a subsidiary of the Reliance Group, is a key player in the distribution of internet services through cable, while also holding a strategic stake in the Cable Television sector.
The company serves millions of homes across India, boasting a 53 per cent shareholding from its parent conglomerate.
With 5.6 million digital cable subscribers and a robust cable network spanning over 31,000 kilometres, Hathway has established a major presence in the market. Additionally, it enjoys an impressive online collection rate of 96 per cent, underscoring its operational efficiency.
The market capitalisation of Hathway Cable & Datacom is Rs 3,671 crore, according to BSE. The company falls under the BSE SmallCap category.
The 52-week high of Hathway Cable & Datacom share is Rs 27.90 while its 52-week low is Rs 17.01 per share.
At 1:12 PM, Hathway Cable & Datacom shares were trading 3.29 per cent higher at Rs 20.74 per share. In comparison, BSE Sensex was trading 0.65 per cent higher at Rs 81,908.46 levels.
First Published: Oct 14 2024 | 1:24 PM IST
