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Hathway Q1 FYE 2016 EBITDA Down 34% To RS 32.7 Mil.

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED
30TH JUNE 2015

FINANCIAL HIGHLIGHTS

  • Phase I ARPU at Rs. 100/- (net of tax). Phase II ARPU at Rs 76/- (net of tax) as compared to Rs. 67/- (net of tax) in Q4 FY15.
  • Subscription Revenues at Rs. 105.5 Cr (Net Of Adjustments) with a growth of 10% YoY
  • Hathway CATV Universe at 11.8 Mn – Digitized 8.6 Mn subscribers. 1 Lakh Set top boxes deployed in Q1 FY16.
  • 120k additional homes passed in Q FY16, Broadband Homes passed – 2.4 Mn.
  • Broadband Gross Additions at 50k for Q1 FY16.
  • Broadband Subscribers – 0.46 Mn (Docsis 3.0 – 0.17 Mn).
  • Broadband ARPUs increased from Rs. 530 to Rs. 577 (exit Q1FY16). (+9%)
  • Rapid growth in broadband Revenue at Rs. 65.1 Cr with a growth of 56% YoY and 13% QoQ.
  • Excluding Activation Q-o-Q Standalone EBITDA grows by 7% to 27.3 Crs from 25.4 Crs
  • Standalone Gross Debt – 1,137.3 Crs Net Debt – 1041.4 Crs.
  • As per management estimates, Quarterly EBITDA inclusive of Hathway’s economic interest in the EBITDA of its several Subsidiaries/JVs/Associate companies would aggregate to about Rs. 41 Crs.

Standalone Statement of Accounts Q1 FY16 (Unaudited)

The Board of Directors of Hathway Cable and Datacom Limited (Hathway) (BSE:533162 NSE: HATHWAY) in its meeting held on 11th August 2015, have taken on record the Unaudited Financials for Q1 FY 16.

OPERATIONAL HIGHLIGHTS

CORPORATE

The company has received approval from FIPB (Foreign Investment Promotion Board) for an increase in the FII/ FPI holding to 74% from the current level of 49%.

The company has tied up financing for phase III roll out and investment for homes passed in Docsis 3.0 roll out for Broadband.

CATV

Subscription trend:

  • Hathway has aggressively started promoting prepaid billing structure for all its primary subscribers. The company expects this rollout to be completed over the next quarter so as to cover 100 % of its primary subscriber base. This prepaid structure will enable the company to substantially improve its ARPUs from this subscriber base. It is expected that once primary subscribers are completed a prepaid billing structure will be rolled out for Secondary subscribers also. This action by the company will have a substantially positive impact over the next few quarters on its CATV ARPU.
  • Where feasible the company in cooperation with its business partners is starting to manage its secondary points through RTU (Right-to-use) model. Over 13k customers have been converted so far.
  • The company is in the process of contracting for the supply of Set Top Boxes for Phase III, The inventory of Set Top Boxes in hand is about 0.5 Mn.
  • The company has deployed over 10k HD boxes in Q1 FY16.

BROADBAND

Subscription Trend

  • Broadband business continues its momentum of upgrading LAN/ Docsis 2.0 consumers onto Docsis 3.0 platform. Incremental Consumers ARPU has reached Rs. 850/- levels.
  • With Sania Mirza as its brand ambassador, Hathway hopes to reinforce the attributes of the new ultra-high-speed technology, as she is known for speed, agility and as an icon who appeals most to new age India.
  • Network up gradation capex has been rolled out across all Docsis 3 towns to ensure network is ready for consistent 50 mbps speed even with increase in consumer base.
  • As per renewed Unified service License conditions, We have taken into account 8% license fee for our broadband business (5.2 Crs for Q1 FY16)

Source: Hathway