India’s largest MSO, GTPL Hathway, on Thursday reported revenue of Rs. 6,454 million in Q1 FY23 ending June 30. Profit after tax stood at Rs. 433 million

The consolidated revenue of Rs. 6,454 million showed a growth of 10 percent year-on-year, YoY.

Subscription revenue stood at Rs. 2,727 million, a growth of 3 percent YoY, while revenues from broadband  stood at Rs.1,139 million, up 24 percent YoY.

Broadband subscribers grew by 1,55,000 YoY and by 29,000 QoQ (quarter on quarter). Total active broadband subscribers reached 8,45,000 and homepasses reached 4.85 million.

In an official statement, the MSO said it continues to widen its footprint in existing markets and penetrate new one through both organic and inorganic routes.

Consolidated subscription revenue increased by 3 percent YoY, while standalone subscription revenue was Rs. 1,903 million, up 4 percent YoY.

Paying subscribers stood at 7.80 million, which is an increase of 500k YoY.  Average revenue per user (ARPU) for Q1 FY23 stood at Rs. 450, while the average data consumption per user per month increased by 17 percent YoY to 260 GB.

Commenting on the results, GTPL Hathway MD Anirudhsinh Jadeja said, “We have been consistent in achieving our goals across all business segments. We are the largest MSO in India and continue our strategy of expansion in new geographies and deeper penetration in our existing markets.

“The key highlights of Q1 FY23 are stable digital cable TV subscription revenues and growth in subscribers as well as revenues in the broadband business. GTPL has again been listed amongst ‘India’s Top 500 Companies 2022’, second year in a row, as released by Dun & Bradstreet.

“We have entered FY23 with a positive outlook for our businesses and confidence in our ability to continue its successful evolution.”