For the quarter ended 31 March 2023, the company reported a loss before tax of Rs 9.56 crore as against a profit before tax of Rs 32.91 crore in Q4 FY22.

Total expenses rose 8.25% Year on Year to Rs 484.49 in Q4 FY23. Pay channel cost stood at Rs 194.42 crore (up 15.59% YoY) while employee benefit expense was at Rs 25.73 crore (down 2.43% YoY).

The company's revenue from broadband business was at Rs 159.16 crore (up 1.3% YoY) and cable television segment stood at Rs 300.43 crore (up 3% YoY), during the period under review.

On full year basis, the company's net profit declined 49.8% to Rs 65.29 crore in FY23 as compared with Rs 129.99 crore in FY22. Net sales stood at Rs 1,858.44 crore in FY23, registering the growth of 3.6% as against Rs 1,793.02 crore posted in FY22.

Meanwhile, the company appointed Tavinderjit Singh Panesar as chief executive officer. He is highly accomplished professional with three decades of cross functional experience in the diverse industries in the areas of management, strategic planning, distribution, business development, media and entertainment and broadcasting.

He is a commerce graduate having worked, lead and managed companies like ESPN Star Sports, Star India, and Apollo Tyres and JK Industries at various levels and help them grow in their respective domains.

He was earlier associated with Hathway Digital, material subsidiary of the company from 8 December 2014 to 25 July 2017 as its CEO.

Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India.