(Corrects paragraph 4 to add dropped words “in its consumer business”)
Jan 14 (Reuters) - Canadian cable TV operator Shaw Communications Inc reported a 7 percent drop in first-quarter profit, hurt mainly by a fall in video subscriptions.
The company’s net income fell to C$227 million ($189.72 million), or 46 Canadian cents per share, for the three months ended Nov. 30, from C$245 million, or 51 Canadian cents a share a year earlier.
Revenue rose 2 percent to C$1.39 billion.
During the quarter, the company lost 18,372 satellite video subscribers and 11,923 cable video subscribers in its consumer business. However, new consumer internet customers increased by 11,379. ($1 = 1.1965 Canadian dollars) (Reporting by Alastair Sharp and Shubhankar Chakravorty; Editing by Saumyadeb Chakrabarty)