GTPL Hathway Q2 FY2018 Standalone PAT at INR 119 Million, up by 55% Y-o-Y

AHMEDABAD, India, November 7, 2017 /PRNewswire/ --

West Bengal cable operations turns PAT positive

Key Highlights Q2 FY18 

• Total standalone revenue up 24%; y-o-y
• Standalone CATV subscription revenue up by 32% y-o-y; up 11% q-o-q
• Broadband revenue up 13% y-o-y; up 4% q-o-q
• Phase IV CATV ARPU up by 19.5%, Phase III ARPU up by 7.4%
• Won two prestigious orders from the Government of Gujarat
• West Bengal cable operations turns PAT positive of INR 1 million against a loss of 23 million in Q2 FY17
• Gross debt down by INR 2051 mn from March 2017 level

GTPL Hathway Limited (GTPL), India's leading regional MSO, today announced the financial results for the second quarter and half-year ended on September 30, 2017 as approved by its Board of Directors.

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Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway said, "During Q2, GTPL saw Phase IV CATV ARPU go up by 19.5% and phase III ARPU by 7.4%. Our West Bengal cable operations, turned PAT positive during the quarter. Overall, second quarter performance was in line with our expectation and we see the next two quarters equally exciting."

"Our broadband business is gaining good traction and during Q2, we created 40,000 new Home Pass. During the quarter, GTPL won two prestigious orders from the Gujarat Government to provide broadband connectivity to the various offices of the home department as well as creating Wi-Fi Hot Spots across the state. With this, GTPL will be able to monetise the existing infrastructure while providing high speed internet connectivity to practically all the government departments and utilities. This will also provide us an opportunity to connect rural Gujarat," added Mr. Jadeja.

Q2 FY 2018 Standalone Financial Performance Highlights (as per IND AS) 

GTPL Hathway Limited 

• Total revenue at INR 1,835 million, up 24% y-o-y
• CATV subscription revenue at INR 1,001 million, up 32% y-o-y, up 11% q-o-q
• EBITDA at INR 585 million; up 20% y-o-y; EBITDA margin as percentage to revenue at 31.9%
• Profit after tax at INR 119 million; up 55% y-o-y

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

• Total revenues at INR 331 million, up 13% y-o-y
• EBITDA at INR 92 million; up 15% y-o-y; EBITDA margin as percentage to revenue at 27.7%
• Profit after tax at INR 39 million; up 2% y-o-y

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

• Total revenues at INR 398 million, up 45% y-o-y
• CATV subscription revenue at INR 256 million, up 48% y-o-y, up 27% q-o-q
• EBITDA at INR 119 million, up by 221% y-o-y; EBITDA margin as percentage to revenue at 30%
• The company turns profitable and reported a PAT of INR 1 million against a loss of 23 million in Q2 FY17

Business Performance Highlights 

CATV

• GTPL deployed 0.52 million STBs during the quarter taking total seeded STBs as on September 30, 2017 to 8.28 million (as on Previous quarter 7.76 mn). Active subscribers as on September 30, 2017 were at 7.06 million. Digital paying subscriber as on September 30, 2017 stood at 6.64 million.
• The average CATV revenue per user (ARPU) as on September 2017 for Phase1, Phase 2, Phase 3 and Phase 4 at INR 101, INR 96, INR 58 and INR 49 respectively. Phase wise Seeded Boxes as on September 30, 2017 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 0.73 million, 2.2 million, 2.55 million and 2.8 million respectively

Consolidation of stakes in subsidiaries 

During the year, the company acquired remaining stakes in the following companies which are now 100% owned subsidiaries of GTPL Hathway Limited as on September 30, 2017

• Remaining 49% stake in GTPL Vidarbha Tele Link Private Limited
• Remaining 49% stake in GTPL Sharda Cable Network Private Limited
• Remaining 8% stake in GTPL Blue Bell Private Limited

Broadband 

• During Q2, the company added 10,000 broadband subscribers; created 40,000 new Broadband Enabled Homes. Home Pass as on September 30, 2017 stood at 1.15 million.
• The Broadband average revenue per user (ARPU) during the quarter increased to INR 487 as against Q1 FY18 ARPU of INR 486

Prestigious Business Wins during Q2 FY18 

• GTPL was awarded work order by the Home Department, Government of Gujarat, for supply, installation, commissioning and maintenance for internet bandwidth of various offices of Home Department, Government of Gujarat across the Gujarat State. The value of this five-year contract is at INR 192.8 million
• Gujarat Informatics Limited, a Government of Gujarat company, awarded a work order to GTPL Broadband for providing Wi-Fi services on Service / Rental module including Design, Built and Operate & Management for state-wide Public Wi-Fi Hotspots under Gujarat Urban Area Network (GSUAN). The value of this five-year contract is at INR 288.8 million

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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