In a significant turnaround, Hathway Cable and Datacom Ltd have announced a noteworthy profit of ₹35 crore for the fourth quarter ending March 31, 2024. This announcement marks a striking reversal from the corresponding period last fiscal year when the company reported a net loss of ₹14.6 crore. The surge in profitability underscores the resilience and adaptability of the cable services provider in navigating market challenges.
The company’s revenue from operations witnessed a commendable growth of 7.3%, reaching ₹493.4 crore as compared to ₹460 crore in the same period of the preceding fiscal year. Alongside this revenue growth, the operating level performance, as measured by EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), demonstrated a remarkable uptick. EBITDA surged by 26.6% to ₹80.4 crore in the fourth quarter of this fiscal year, showcasing a robust operational performance.
An essential metric, the EBITDA margin, also witnessed a noteworthy improvement. The margin stood at 16.3% in the reporting quarter, compared to 13.8% in the corresponding period of the previous fiscal year. This improvement highlights the efficiency gains and cost management strategies implemented by Hathway Cable and Datacom Ltd.
Investor sentiment echoed the positive performance as shares of Hathway Cable and Datacom Ltd closed at ₹21.12 on Tuesday, April 16, marking an increase of ₹0.36 or 1.73% on the Bombay Stock Exchange (BSE).
The company’s resurgence to profitability signifies not only its ability to weather industry challenges but also its capacity to capitalize on emerging opportunities. As the digital landscape continues to evolve, Hathway Cable and Datacom Ltd appear poised to leverage their strengths and further consolidate their position in the market.
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In conclusion, Hathway Cable’s return to profitability in Q4 represents a significant milestone, signaling resilience, adaptability, and a promising trajectory for the company in the ever-evolving telecommunications landscape.
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