GTPL Hathway's Consolidated 9M FY21 PAT at ₹ 1,314 million, up by 45% Q3 FY21 Broadband Revenue at ₹ 778 million, up by 84%

AHMEDABAD, India, Jan. 13, 2021 /PRNewswire/ -- GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the third quarter and nine months ended on December 31, 2020, as approved by its Board of Directors.

Key Highlights

• Consolidated Q3 FY21 revenue (ex-EPC) at ₹ 5,530 million; up 21% y-o-y; Consolidated 9M FY21 revenue (ex-EPC) at ₹ 15,311 million; up 17% y-o-y
• Q3 FY21 ISP Revenue at ₹ 778 million; up by 84% y-o-y; 9M FY21 ISP Revenue at ₹ 1,975 million; up by 63% y-o-y
• Q3 FY21 EBITDA (incl. EPC) ₹ 1,495 million; up 11% y-o-y; Q3 FY21 EBITDA (ex-EPC) ₹ 1,421 million; up 20% y-o-y; Q3 FY21 PAT at ₹ 452 million; up 38% y-o-y
• 9M FY21 EBITDA (incl. EPC) ₹ 4,170 million; up 10% y-o-y; 9M FY21 EBITDA (ex-EPC) ₹ 4,014 million; up 17% y-o-y; 9M FY21 PAT at ₹ 1,314 million; up 45% y-o-y
• Reduced net debt by ₹ 887 million in 9M FY21
• As on Q3 FY21, Seeded STBs stood at 10.61 million and Paying Subscribers stood at 7.35 million
• Added 4,70,000 new home-pass in 9M FY21
• Added 55,000 net broadband subscribers in Q3 FY21, total addition of 1,85,000 net broadband subscribers in 9M FY21
• Data consumption per customer at 205 GB/month as on December 2020; up from 126 GB/month in December 2019; Data consumption increased 63% y-o-y.

Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, "GTPL Hathway continues to deliver on key KPIs, despite lockdown and restrictions in 9M FY21. The highlight of the first nine months of the financial year was the improvement in subscription revenues for both CATV and Broadband business, strong profitability, debt reduction, geographical expansion and robust operational performance. We have reduced our net debt by ₹ 887 million in 9M FY21. Our Broadband business picked up pace owing to e-learning and work from home resulting in additional 1,85,000 Broadband subscribers during 9M FY21. We are looking forward to close FY21 on a high note coupled with our planned launch of new products and services in Q4 FY21 along with expanding GTPL's footprints in existing and new markets."     

9M FY21 Consolidated Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 17,423 million f
• Revenue (ex. EPC) at ₹ 15,311 million, up 17% y-o-y
• CATV subscription revenue at ₹ 8,047 million, up 5% y-o-y
• Broadband revenue at ₹ 1,975 million, up 63% y-o-y
• EBITDA at ₹ 4,170 million; up 10% y-o-y; EBITDA (ex. EPC) at ₹ 4,014 million; up 17% y-o-y; EBITDA margin (ex. EPC) at 26.2 %
• Profit after tax at ₹ 1,314 million; up 45% y-o-y
• 9M FY21 EPC Contract revenue, EBITDA and PBT at ₹ 2,113 million, ₹ 156 million and ₹ 146 million respectively.

Q3 FY21 Consolidated Financial Performance Highlights (as per IND AS)

• Revenue stood at ₹ 6,556 million
• Revenue (ex. EPC) at ₹ 5,530 million, up 21% y-o-y
• CATV subscription revenue at ₹ 2,718 million, up 5% y-o-y
• Broadband revenue at ₹ 778 million, up 84% y-o-y
• EBITDA at ₹ 1,495 million; up 11% y-o-y; EBITDA (ex. EPC) at ₹ 1,421 million; up 20% y-o-y; EBITDA margin (ex. EPC) at 25.7%
• Profit after tax at ₹ 452 million; up 37% y-o-y
• Q3 FY21 EPC Contract revenue, EBITDA and PBT at ₹ 1,026 million, ₹ 74 million and ₹ 72 million respectively.

9M FY21 Standalone Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 12,097 million
• Revenue (ex. EPC) at ₹ 9,984 million, up 14% y-o-y
• CATV subscription revenue at ₹ 5,477 million, up 6% y-o-y
• EBITDA at ₹ 2,507 million; EBITDA (ex. EPC) at ₹ 2,351 million; EBITDA margin (ex. EPC) at 23.5%
• Profit after tax at ₹ 950 million; up 12% y-o-y

Q3 FY21 Standalone Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 4,521 million
• Revenue (ex. EPC) at ₹ 3,495 million, up 9% y-o-y
• CATV subscription revenue at ₹ 1,825 million, up 2% y-o-y
• EBITDA at ₹ 837 million; EBITDA (ex. EPC) at ₹ 763 million; EBITDA margin (ex. EPC) at 21.8%
• Profit after tax stood at ₹ 297 million

Business Performance Highlights

CATV

• GTPL's total seeded STBs as on December 31, 2020 stood at 10.61 million
• Paying subscribers as on December 31, 2020 stood at 7.35 million
• The successful implementation of the New Tariff Order (NTO) in India has opened avenues for expansion in existing markets & lifted entry barriers in untapped markets
• GTPL continues to widen its footprints in its existing market and penetrate new markets through inorganic route  

Broadband

• During 9M FY21, the company added 4,70,000 Home-Pass. Home-Pass as on December 31, 2020 stood at 3.80 million
• Added 55,000 net broadband subscribers during Q3 FY21. Total subscribers as on December 31, 2020 were 5,90,000 of which 1,85,000 are FTTX subscribers
• The Broadband average revenue per user (ARPU) for Q3 FY21 stood at ₹ 445; up 7% y-o-y
• GTPL is in a sweet spot for converting its strong existing CATV subscriber base of 10.61 million households into its Broadband subscribers directly or through operators
• Deployed the latest GPON technology for providing high speed and high-volume Broadband services in Gujarat. GTPL plans penetrate to other regions by upgrading to FTTX Solutions

About GTPL Hathway Limited

GTPL Hathway Limited is one of India's leading Digital Cable TV and Broadband service provider. We are number 1 Cable TV Provider in Gujarat with 67% market share. Our digital cable television services reached 800 plus towns across India, in states of Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Assam, Tripura, Jharkhand, Telangana, Rajasthan, Andhra Pradesh & Tamil Nadu. As on December 31, 2020, we have seeded approximately 10.61 million STBs and had approximately 7.35 million paying subscribers and 5,90,000 Broadband Subscribers with a home pass of about 3.80 million.

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