Shares of Hathway Cable fell 4% in morning trade on April 18, a day after the cable TV and fibre optic internet provider reported a combined net loss of Rs 14.61 crore for the March quarter.

It posted a net profit of Rs 28.42 crore in the January-March period a year ago, the company said in a BSE filing.

However, Hathway Cable’s operating income stood at Rs 459.59 crore, up 2.4% from Rs 448.79 crore in the corresponding period of the previous fiscal. Its broadband business revenue was Rs 159.16 crore, and cable TV revenue was Rs 300.43 crore.

Its consolidated net profit for the financial year ending March 31, 2023, fell by 49.85% to Rs 65.37 crore. It was Rs 130.35 crore in FY22.

Hathway Cable’s operating income rose 3.64% to Rs 1,858.44 crore in FY23 from Rs 1,793.02 crore a year ago.

Hathway Cable & Datacom’s Board of Directors has appointed Tavinderjit Singh Panesar as Chief Executive Officer.

Hathway Cable returned 34.36% last year, underperforming Nifty, which returned 2.96% over the same period.

Over the longer five-year period, Hathway Cable stock has seen the same underperformance. The stock fell 66.93%, compared with the benchmark index’s return of 67.38%.

Hathway Cable was trading down 3.42% at Rs 12.80 on the BSE at 10:45 am.