Hathway Cable and Datacom Divests Stake in Hathway Patiala

Hathway Cable and Datacom Limited has announced the sale of its equity stake in Hathway Patiala Cable Private Limited for 2.5 million rupees. This divestment aligns with the company's ongoing strategy to streamline its operations and focus on core business areas. Hathway Patiala Cable was previously classified as a joint venture investment but had been reclassified as a financial asset since FY 2017-18 due to management's decision to no longer exercise influence over its operations. The sale is expected to have minimal impact on Hathway's consolidated financials, given the company's broader portfolio of cable and broadband operations across India. This move follows Hathway's pattern of strategic acquisitions and divestments in various subsidiaries to optimize its business structure.

Source: Company Announcement