GTPL Hathway Limited, a leading digital cable TV and a leading broadband service provider, announced its financial results for the quarter and financial year ending March 31, 2023.

Digital cable TV subscribers grew by 550K Y-o-Y to reach 8.95 million, increasing footprint in three new States of Delhi, Haryana and Uttarakhand.

Total active subscribers for broadband stood at 920K, a growth of 104K Y-o-Y with the homepass standing at 5.30 million.

FY23 revenue stood at Rs. 27,140 million, a growth of 12 percent annually with broadband revenue increasing 18 percent annually. FY23 PAT stood at Rs.1,145 million.

In a statement, the company said broadband ARPU at Rs. 460 increased by Rs.10 annually. For FY23, the company’s Board recommended a dividend of 40 percent.

During the year, it also launched GTPL Genie+, an OTT apps aggregation product, which offers subscriptions to a wide choice of applications in convenient packs.

In the digital cable TV category, subscription revenue increased by 2 percent annually. Average data consumption per user per month at 321 GB showed a 25 percent increase Y-o-Y.

Commenting on the results, GTPL Hathway Limited MD Anirudhsinh Jadeja said, “I am glad to report yet another year of consistent growth in our broadband and digital cable TV business. GTPL continues to be the largest MSO in the country, as well as in Gujarat and the largest broadband player in Gujarat. The company has further strengthened its presence across all other markets, especially in the southern States.

“We continue to expand our presence in the digital cable TV market and have entered the states of New Delhi, Haryana and Uttarakhand. Our broadband business continues to show healthy growth, both in terms of subscribers and ARPU. Our focus and commitment to expand the broadband business is expected to achieve the desired results in the coming years.”