GTPL Hathway reports strong Q1 FY25 Financial Results

AHMEDABAD, India , July 12, 2024 /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, 2024.

Key Financial Highlights:

Key Consolidated Business & Financial Highlights: Q1 FY25 (Y-o-Y)                                                                                      

• Q1FY25 revenue stood at ₹ 8,506 million- a growth of 4% Q-o-Q and 9% Y-o-Y; Subscription Revenue increased by 7% Y-o-Y.
• EBITDA for Q1 FY25 stood at ₹ 1,205 million. EBITDA Margin was 14.20%.
• Q1 FY25 Profit After Tax stood at ₹ 143 million an increase of 12% Q-o-Q.
• India Ratings affirmed GTPL Hathway and its debt facilities at 'IND AA-'/Stable.

*Operating EBITDA (%) = (EBIDTA net of Activation & Other income) / (Subscription+ ISP + Other Operating income)

Business Performance Highlights (Quarter end)

Digital Cable TV

• Active subscribers were 9.60Mn as of 30^th June 2024 – it saw an increase by 100K Q-o-Q and 550K Y-o-Y
• Paying subscribers stood at 8.90Mn; increasing by 100K Q-o-Q and 600K Y-o-Y
• Subscription revenue increased by 7% Y-o-Y to Rs. 3,193 million

Broadband

• Increase in broadband subscribers by 10K Q-o-Q and 70K Y-o-Y thus standing at 1030K
• Homepass as on June 30, 2024, stood at 5.90Mn – an addition of 500K Y-o-Y. Of the 5.90Mn, 75%
• available for FTTX conversion
• The Broadband average revenue per user (ARPU) stood at ₹ 460 per month per subscriber for the year.
• Average data consumption per user per month at 350GB, an increase of 13%Y-o-Y

Commenting on the Results, Mr. Anirudhsinh Jadeja –Managing Director, GTPL Hathway Limited said, "I am pleased to announce that the Company has reported a consistent performance for the quarter driven by focus on operational efficiency and rising subscribers' traction in the Cable TV segment aided by sporting events such as IPL and Cricket World Cup. The recent round of price hikes announced by all major telcos make the prospect of private wireline broadband at home even more appealing thus making our offering in the broadband segment even more competitive."

Our strategy for the ensuing year would be to continue building on the existing businesses and carrying the momentum in scaling up both the segments with a focus on efficient operations that ensure consistent and reliable delivery of services to all existing and new customers.   

About GTPL Hathway Limited

GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is one of the largest Private Wireline Broadband service providers 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 23 states. The company enjoys an expansive network, comprising over 42,000+ business partners, 200+ broadcasters, 1,750+ enterprise clientele, and active participation in 30+ government projects. The company offers an enviable catalogue of 940+ Total TV Channels of which more than 130+ channels are GTPL Owned & Operated Platform Services. As on June 30, 2024, the Company has approximately 9.60 million Active Digital Cable TV Subscribers and 1.03 million Broadband Subscribers and a Broadband homepass of about 5.90 million.                                       

CIN: L64204GJ2006PLC048908

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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