Hathway, Den Networks rally upto 20% after strong Q2 results by Hathway

Hathway Cable & Datacom has locked in upper circuit of 20% at Rs 38.25, while Den Networks was up 8% to Rs 91 on the BSE

Shares of cable service providers such as Hathway Cable & Datacom Limited (Hathway), Den Networks, Siti Networks and Dish TV India rallied by up to 20% after Hathway reported good set of numbers for the quarter ending September 2017 (Q2FY18).

Hathway had posted 50% quarter on quarter (QoQ) growth in standalone net profit before exceptional item at Rs 15.3 crore in Q2FY18 against Rs 10.2 crore in June quarter (Q1FY18). Ebitda (earnings before interest, tax, depreciation and amortization) margin improved 600 bps QoQ at 44% in Q1FY18 from 38% in Q1FY18.

“Minimum data limits across country increased to