GTPL Hathway Limited (GTPL) Q1 FY2018 PAT at INR 148 Million, up by 86% Y-o-Y

AHMEDABAD, India, August 9, 2017 /PRNewswire/ --

With New headend GTPL set to offer 650 CATV channels and 50 OTT channels 

Key Highlights Q1 FY18
- Financial 

  - Standalone CATV subscription revenue up by 19% y-o-y, EBITDA margin at 32% 
  - Broadband revenue up 25% y-o-y; broadband EBITDA margin at 26% 
  - Standalone PAT up by 86% y-o-y

- Technology 

  - Deployed next generation video headend system Harmonic INC, USA, enable to offer up to 650 cable TV channels and 50 OTT channels.

GTPL Hathway Limited (GTPL), India's leading regional MSO, today announced the financial results for the first quarter ended on June 30th, 2017 as approved by its Board of Directors. 

Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway said, "After posting 33% growth in CATV subscription revenue and 77% growth in broadband revenue in FY17, GTPL Hathway continued the growth momentum well into the first quarter of the fiscal 2018. The monetization of CATV Phase 3 and Phase 4 kicked off."

Talking about the technology developments at GTPL following the company's recent IPO, Mr. Jadeja further commented, "At GTPL we are continuously upgrading our technology to offer the best in class output to GTPL subscribers. We have deployed the next generation video headend system Harmonic INC, USA which will now enable us to offer up to 650 cable TV channels and 50 OTT channels."

Q1 FY 2018 Standalone Financial Performance Highlights (as per IND AS) 

GTPL Hathway Limited 

- Total revenue at INR 1,782 million, up 25% y-o-y
- CATV subscription revenue at INR 903 million, up 19% y-o-y, up 7% q-o-q
- EBITDA at INR 570 million; up 29%; EBITDA margin as percentage to revenue at 32%
- Profit after tax at INR 148 million; up 86% y-o-y
- Earnings Per Share as on June 30, 2017 was at INR 1.32/ Share

Additional information with regard to financial performance of following two material subsidiaries of the Company (As per Limited Review)

GTPL Broadband Private Limited - 100% subsidiary of GTPL providing broadband services 

- Total revenue at INR 318 million, up 25% y-o-y
- EBITDA at INR 84 million; up 65%; EBITDA margin as percentage to revenue at 26%
- Profit after tax at INR 37 million; up 95% y-o-y

GTPL Kolkata Cable & Broadband Pariseva Limited (KCBPL) - 51% subsidiary of GTPL operating in West Bengal 

- Total revenue at INR 325 million, up 12% y-o-y
- CATV subscription revenue at INR 201 million, up 15% y-o-y, up 4% q-o-q
- EBITDA at INR 63 million; EBITDA margin as percentage to revenue at 19%

Business Performance Highlights 

- CATV 

  - GTPL deployed 0.86 million STBs (Phase 4) during the quarter taking total seeded STBs as on June 30, 2017 to 7.76 million. Active subscribers as on June 30, 2017 were at 6.69 million.
  - The average CATV revenue per user (ARPU) as on June 2017 for Phase1, Phase 2, Phase 3 and Phase 4 at INR 100, INR 95, INR 54 and INR 41 respectively. Phase wise Seeded Boxes as on June 30, 2017 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 0.72 million, 2.23 million, 2.53 million and 2.28 million respectively

- Digital Headend 

  - Deployed next-generation video headend system Harmonic Inc., USA
  - Enable the Company to offer up to 650 cable television (CATV) channels and 50 OTT channels
  - Support advanced features like graphic overlay and scroll insertion

- Broadband 

  - During Q1, the company added 10,000 broadband subscribers; created 30,000 new Broadband Enabled Homes. Home Pass as on June 30, 2017 stood at 1.1 million.
  - The Broadband average revenue per user (ARPU) during the quarter increased to INR 486 as against Q4 FY17 ARPU of INR 480

About GTPL Hathway Limited:
GTPL Hathway Limited one of India's leading MSO and broadband service providers. With 67% market share, we are number 1 MSO in Gujarat and with 24% market share, number 2 MSO in Kolkata and Howrah in West Bengal. Our digital cable television services reached 189 towns across India, including towns in Gujarat, West Bengal, Maharashtra, Bihar, Assam, Jharkhand, Madhya Pradesh, Telangana, Rajasthan and Andhra Pradesh. As on March 31, 2017, we have seeded approximately 6.9 million STBs and had approximately 5.98 million active digital cable subscribers and a home pass of about 1.08 million subscribers for our broadband services. 

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