Hathway Cable and Datacom's consolidated revenue for the quarter ended 31st December has grown 3% to Rs 455 crore from Rs 442.3 crore in the same quarter of the previous fiscal. While cable TV revenue jumped 6% to Rs 300.1 crore from Rs 283.5 crore, broadband revenue has declined 2% to Rs 154.9 crore from Rs 158.8 crore.
The total expenditure has increased 11% to Rs 352.9 crore from Rs 319.2 crore in Q3 FY21. Pay channel cost rose 16% to Rs 168.4 crore from Rs 145.1 crore. The company's net profit for the quarter declined 46% to Rs 34 crore from Rs 62.7 crore. EBITDA was down 13% to Rs 122.7 crore compared to Rs 141.2 crore.
Hathway has 5.5 million digital cable subscribers/households with 100% subscribers being served through the Hathway Connect platform and 95% online payment made by LCOs.
The company has revealed that set-top box (STB) procurement and market share gain plans are being rolled out. Further, it has piloted casting of OTT apps through already seeded new generation HD boxes. This feature can give Hathway Cable TV customers access to OTT without any need to buy an additional OTT box. The company has also piloted a TV Plug that will allow it to provide last-mile Cable TV connectivity from a Mobile Tower Network.
The company is focusing on enriching customer experience through technology initiatives. It is also looking to provide product and service offerings like the Next-generation HEVC HD box and OTT Hybrid box.
On the broadband side, the company said that the revenue trajectory is flat essentially on account of higher speed and unlimited data limits now available at lower ARPU plans at the industry level. The company witnessed strong FTTH customer acquisition. Its growth picked up in Q3 FY22 with net additions of 24,000 FTTH customers. FTTH consumers now account for 65% of overall ISP consumers and 70% of ISP revenue.
The company has completed Next Generation Docsis up-gradation in all cities resulting in a 70% decline in Docsis speed complaints and 64% of Docsis consumers have been upgraded to 100 Mbps speed plans. To increase FTTH consumer delight, it has achieved 76% redundancy in FTTH PON ports up to the splitter level as of December 2021. Further, FTTH capacity has been augmented to accommodate additional 1.2 lakh consumers.
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