GTPL Hathway records its highest quarterly revenues from operation

AHMEDABAD, India, July 17, 2023 /PRNewswire/ -- GTPL Hathway Limited, India's largest Digital Cable TV Service Provider and a leading Broadband Service provider, announced its Financial Results for the Quarter ending June 30, 2023.

Key Financial Highlights:

• Q1 FY24 Revenue stood at ₹ 7,806 million - a growth of 11% Q-o-Q and 21% Y-o-Y; Subscription Revenue increased by 8% Q-o-Q and 9% Y-o-Y
• Q1 FY24 Profit After Tax stood at ₹ 360 million
• CATV business active subscribers grew by 650K Y-o-Y; Active subscribers stood at 9.05 million as on 30-Jun-23
• Broadband business active subscribers grew by 115K Y-o-Y; Active subscribers stood at 960K & Homepass stood at 5.40 million as on 30-Jun-23
• ARPU for broadband business is at ₹ 460/- increased by ₹ 10/- Y-o-Y
• Acquired 34.34% of Metro Cast Networks India Private Limited to boost presence in key existing markets of Maharashtra and Karnataka

Business Performance Highlights

Digital Cable TV

• Active subscribers increased by 100K Q-o-Q and 650K Y-o-Y
• Subscription revenue increased by 8% Q-o-Q and 9% Y-o-Y
• Expanding aggressively in Andhra Pradesh, Telangana, Tamil Nadu, North-East, Delhi, Haryana and Uttarakhand
• Acquired stake in Metro Cast Networks India Private Limited to boost presence in key markets of Maharashtra and Karnataka

Broadband

• Increase in broadband subscribers of 115K, an increase of 14 % Y-o-Y
• As on June 30, 2023, homepass stood at 5.40 million – an addition of 550K Y-o-Y. Of the 5.40 million, 75% is 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 at 310 GB, an increase of 19% Y-o-Y

Commenting on the Results, Mr. Anirudhsinh Jadeja – Managing Director GTPL Hathway Limited said, "GTPL continues to be the largest MSO in the country and the largest Digital Cable TV & Broadband player in Gujarat. We are consistently adding active subscriber base in both business segments and our goal will be to ensure that the Company stays firmly on this path of growth while ensuring we serve our customers' expectations well".

About GTPL Hathway Limited

GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is amongst the leading Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. The Company's Digital Cable TV services reach 1,500 plus towns across India in 22 states including Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Madhya Pradesh, Jharkhand, Rajasthan, Odisha, Assam, Tripura, Meghalaya, Manipur, Nagaland, Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Delhi, Haryana and Uttarakhand. As on June 30, 2023, the Company has approximately 9.05 million Active Digital Cable TV Subscribers and 9,60,000 Broadband Subscribers and a Broadband homepass of about 5.40 million.

Safe Harbor

Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Logo - https://mma.prnewswire.com/media/1982843/GTPL_Logo.jpg