GTPL Hathway Limited, India’s foremost digital cable TV service provider and a leading Broadband service provider, yesterday announced its financial results for the quarter ending June 30, 2023.
As per the press release, GTPL Hathway’s financial performance for Q1 FY24 showcased remarkable growth, with the company achieving its highest quarterly revenues from operations.
The key financial highlights are as follows:
Q1 FY24 Revenue reached ₹7,806 million, marking an impressive growth of 11 percent quarter-on-quarter (Q-o-Q) and 21 percent year-on-year (Y-o-Y). Subscription Revenue also experienced a significant boost, increasing by 8 percent Q-o-Q and 9 percent Y-o-Y.
Profit After Tax for Q1 FY24 stood at ₹360 million.
CATV business active subscribers witnessed substantial growth, with an increase of 650,000 subscribers Y-o-Y. As of June 30, 2023, the active subscribers reached 9.05 million.
Broadband business active subscribers also surged, growing by 115,000 subscribers Y-o-Y. As of June 30, 2023, the active subscribers amounted to 960,000, and the Homepass figure reached an impressive 5.40 million.
The Average Revenue Per User (ARPU) for the broadband business rose to ₹460 per month per subscriber, exhibiting a ₹10 increase Y-o-Y.
In an effort to strengthen its presence in key existing markets of Maharashtra and Karnataka, GTPL Hathway successfully acquired a 34.34 percent stake in Metro Cast Network India Private Limited.
Business Performance Highlights
digital cable TV
Active subscribers increased by 100,000 Q-o-Q and 650,000 Y-o-Y.
Subscription revenue experienced a growth of 8 percent Q-o-Q and 9 percent Y-o-Y.
Aggressive expansion continues in Andhra Pradesh, Telangana, Tamil Nadu, North-East, Delhi, Haryana, and Uttarakhand.
Strategic acquisition of stake in Metro Cast Network India Private Limited to enhance market presence in Maharashtra and Karnataka.
Broadband
The number of broadband subscribers increased by 115,000, demonstrating a notable 14 percent Y-o-Y growth.
As of June 30, 2023, the Homepass figure reached an impressive 5.40 million, witnessing an addition of 550,000 Y-o-Y. Approximately 75 percent of the 5.40 million Homepass units are available for FTTX conversion.
The Broadband Average Revenue Per User (ARPU) stood at ₹460 per month per subscriber.
Average data consumption per user per month reached 310 GB, reflecting a substantial increase of 19 percent Y-o-Y.
Commenting on the results, Anirudhsinh Jadeja, managing director of GTPL Hathway Limited, said, ‘GTPL continues to be the largest MSO in the country and the leading digital cable TV & Broadband player in Gujarat. We are consistently expanding our active subscriber base in both business segments, and our focus remains on driving growth while delivering exceptional customer service.’
GTPL Hathway’s exceptional financial performance in Q1 FY24 highlights the company’s dedication to its customers and commitment to achieving sustained growth in the ever-evolving digital landscape.