GTPL Hathway records its highest quarterly revenues from operation

AHMEDABAD, India, Oct. 16, 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 September 30, 2023.

Key Financial Highlights 

• Q2 FY24 revenue stood at ₹ 7900 million - a growth of 1% Q-o-Q and 19% Y-o-Y; Subscription Revenue increased by 8% Q-o-Q and 17% Y-o-Y
• Q2 FY24 Profit After Tax stood at ₹ 344 million
• Broadband business active subscribers grew by 120K Y-o-Y
• As on September 30, 2023, total active broadband subscribers stood at 990 K and Homepass stood at 5.5 million
• ARPU for broadband business is at ₹ 460/- remaining stable on a Q-o-Q basis

Business Performance Highlights  

• The Company onboarded Kartik Aaryan and Rashmika Mandanna as its new brand ambassadors.  
• During the quarter, a 360-degree campaign "#AbKeZamaneKaConnection" was launched across Print, TV, OOH and Digital media. 

 Digital Cable TV 

• Active subscribers increased by 350K Q-o-Q and 800K Y-o-Y  
• Subscription revenue increased by 2% Q-o-Q and 16% Y-o-Y 
• Expanded footprint in Andhra Pradesh, Telangana, Tamil Nadu, North-East, Delhi, Haryana and Uttarakhand 

Broadband 

• Increase in broadband subscribers of 120K, an increase of 14 % Y-o-Y 
• Homepass as on September 30, 2023 stood at 5.55 million – an addition of 550K Y-o-Y. Of the 5.55 million, 75% 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 25% Y-o-Y 

Commenting on the Results, Mr. Anirudhsinh Jadeja – Managing Director, GTPL Hathway Limited said, "GTPL strengthened its leadership position and continued to be the largest MSO and a leading wireline broadband service provider in the country during the quarter. The Company is continuously expanding and working towards further strengthening its market leadership across its areas of operation."

During the quarter, the Company onboarded Kartik Aaryan and Rashmika Mandanna as its new brand ambassadors who bring fresh energy to the brand. 

About GTPL Hathway Limited:

GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is a leading largest Private Wireline 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 Sep 30, 2023, the Company has approximately 9.40 million Active Digital Cable TV Subscribers and 9,90,000 Broadband Subscribers and a Broadband homepass of about 5.55 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, labor 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. 

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