Hathway Cables Q1 net profits lower at Rs48.78cr as weak revenue growth takes it toll

Hathway Cables Datacom reported -4.64% fall in total revenues for the Jun-21 quarter on consolidated basis at Rs465.59cr

Jul 22, 2021 11:07 IST India Infoline News Service

Hathway Cable
Hathway Cables Datacom reported -4.64% fall in total revenues for the Jun-21 quarter on consolidated basis at Rs465.59cr  as cable demand got impacted by the second round of lockdown and restrictions on movement and entry into buildings in most urban centres.

On a sequential basis, the revenues were up 3.93% compared to Rs447.99cr revenues in the Mar-21 quarter. We have considered the total revenues including other income component, to give a clearer picture of the company and the sector in the midst of tough times.

The net profit for the Jun-21 quarter was down -26% at Rs48.78cr. However, the profit fall was much steeper sequentially at -32.29%. One of the principal reasons for the profit fall in the quarter is the tepid top line and a spike in costs like pay channel costs  and miscellaneous expenses even as the financing costs came down on a yoy basis.

Net margins at 10.48% in Jun-21 quarter were lower than 13.50% in the Jun-20 quarter and sharply lower than 16.08% NPM recorded during the sequential Mar-21 quarter as costs spikes hit profits.


Financial highlights for Jun-21 compared yoy and sequentially


Hathway Cables
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 465.59 ₹ 488.22 -4.64% ₹ 447.99 3.93%
Net Profit (Rs cr) ₹ 48.78 ₹ 65.92 -26.00% ₹ 72.04 -32.29%
Diluted EPS (Rs) ₹ 0.28 ₹ 0.37 ₹ 0.41
Net Margins 10.48% 13.50% 16.08%

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