Hathway Cable & Datacom Q3 net profit drops 22.31% to Rs 22.35 crore

Cable television distribution company Hathway Cable & Datacom Ltd on Tuesday reported a 22.31 per cent decline in consolidated net profit to Rs 22.35 crore for the third quarter of 2023-24.

The company had posted a net profit of Rs 28.77 crore in the October-December period a year ago, according to a regulatory filing of Hathway Cable & Datacom, a firm controlled by Reliance Industries Group.

However, its total revenue was up 5.46 per cent to Rs 504.58 crore in the October-December quarter. It was at Rs 478.45 crore in the corresponding period a year ago.

In the December quarter, total expenses of Hathway Cable & Datacom were at Rs 512.36 crore, up 5.7 per cent.

Shares of Hathway Cable & Datacom Ltd on Tuesday settled at Rs 23.85, down 2.77 per cent from the previous close. PTI