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Increase in expenses for digitisation in the four metros and rising cost of borrowings has weighed down profitability of Hathway Cable & Datacom Ltd, a multi-system operator (MSO) with a national footprint.
Mumbai-based Hathway reported a loss of Rs 159 million in the first quarter ended June 30, 2012, 71 per cent more than in the previous quarter ended March 31, 2012 and 30 per cent higher than a year earlier. Loss of Rs 46 million on account of fluctuation in foreign exchange rates enlarged the loss in the first quarter.
HDFC Securities, in a research note, said increase in interest cost due to higher inventory of set-top-boxes (STBs) and increase in interest rates caused widening of Hathway's loss in the first quarter.
Indiantelevision.com's > Digital Edge> Hathway Q1 net loss widens on digitisation
Mumbai-based Hathway reported a loss of Rs 159 million in the first quarter ended June 30, 2012, 71 per cent more than in the previous quarter ended March 31, 2012 and 30 per cent higher than a year earlier. Loss of Rs 46 million on account of fluctuation in foreign exchange rates enlarged the loss in the first quarter.
HDFC Securities, in a research note, said increase in interest cost due to higher inventory of set-top-boxes (STBs) and increase in interest rates caused widening of Hathway's loss in the first quarter.
Indiantelevision.com's > Digital Edge> Hathway Q1 net loss widens on digitisation