Hathway Cable & Datacom shares fell 3.41% to Rs 19.85 after reporting a 60.6% drop in consolidated net profit to Rs 28.35 crore in Q4 FY22, compared to Rs 72.04 crore in Q4 FY21.

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In Q4 FY22, consolidated net sales increased by 2.3% to Rs 448.79 crore, compared to Q4 FY21. In Q4 FY22, profit before tax fell 27.1% to Rs 32.54 crore, down from Rs 44.62 crore in Q4 FY21.

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Total expenses increased 10.8% year on year to Rs 366 crore in Q4 FY22, reducing profitability. In comparison to FY21, net profit fell 48.6% to Rs 129.99 crore in FY22, despite a 3.5% growth in net sales to Rs 1,793 crore. 

Hathway Cable & Datacom is India’s largest cable broadband service provider and multiple-system operator (MSO).

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The S&P BSE Sensex was up 366.09 points, or 0.62%, to 58,942.46 in early trade. The Nifty 50 index rose 112.75 points, or 0.64%, to 17,643.05 points. 

The S&P BSE Mid-Cap index jumped 0.59%, while the S&P BSE Small-Cap index rose 0.86% in the broader market. 

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On the BSE, 2,168 equities rose and 546 declined. There were 85 shares that remained unchanged.

On Wednesday, Asian stocks moved higher as investors awaited market reaction to a somewhat hotter-than-expected U.S. inflation report.

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On Tuesday, US equities sank after an early morning rally gave way to selling as investors analysed the latest inflation data from the United States. Prices rose sharply again last month, according to the data.