Its consolidated net loss was Rs 28.1 crore in Q4 FY19 as against a net profit of Rs 18.5 crore in Q3 FY19. EBITDA was up 24% at Rs 103.6 crore compared to Rs 83.3 crore in the trailing quarter. EBITDA margin stood at 29.7% compared to 26%.
The MSO’s revenue increased 9% at Rs 348.8 crore from Rs 319.9 crore. Cable TV subscription revenue was up 16% at Rs 208.3 crore from Rs 179.8 crore. Broadband revenue remained flat at Rs 36.4 crore compared to Rs 36.2 crore. Placement revenue fell 27% to Rs 52.1 crore from 71.2 crore.
Its total expenditure increased 4% to 245.1 crore while the pay channel cost was down 15% to Rs 117.3 crore.
Hathway said: “In view of the New Regulatory Framework for Broadcasting & Cable services sector notified by the TRAI, which has come into effect during the quarter, resulting into changes in pricing mechanism & arrangements amongst the Company, LCOs and Broadcasters; the Management, based on a review, has provided for impairment of trade receivables aggregating to Rs 650 million.”
It added: “These adjustments, having one-time, non-routine material impact on financial results, hence been disclosed as “Exceptional Item” in financial results.”