GTPL Hathway's Consolidated Q1 FY21 PAT at ₹ 409 Million, up by 39%

AHMEDABAD, India, July 15, 2020 /PRNewswire/ -- Key Highlights

• Consolidated Q1 FY21 revenue at ₹ 5,020 million; up 10% y-o-y; Consolidated Q1 FY21 revenue (ex-EPC) at ₹ 4,717 million; up 20% y-o-y
• Q1 FY21 subscription revenue at ₹ 2,653 million; up 7% y-o-y
• Q1 FY21 EBITDA ₹ 1,287 million; up 11% y-o-y; Q1 FY21 EBITDA (ex-EPC) ₹ 1,261 million; up 14% y-o-y
• Q1 FY21 PAT at ₹ 409 million; up 39% y-o-y
• As on Q1 FY21, Seeded STBs stood at 10.21 million and Paying Subscribers stood at 7.20 million
• Added 1,80,000 new home-pass in Q1 FY21 (2,40,000 new home-pass during Q1 FY20)
• Added 50,000 net broadband subscribers; a sharp growth of 2x in subscriber addition during the quarter; including 20,000 FTTX subscribers
• Consumption per customer at 162 GB/month as on June 2020; up from 120 GB/month in June 2019; Data consumption increased 35% y-o-y.

GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the first quarter of Financial Year 2020-21, as approved by its Board of Directors.

Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, "GTPL Hathway delivered another strong quarter. The highlight of the quarter was strong profitability and debt reduction. Our Q1 FY21 consolidated revenue, EBITDA and PAT grew by 10%, 11% and 39%, respectively. During the quarter, we have reduced our gross debt by ₹ 368 million. During the current financial year, we plan to launch a Hybrid box, which will enable us to provide multiservice product that will have Broadband, OTT and Cable service at an attractive price point. Our CATV Business expansion in Maharashtra, Tamil Nadu, Andhra Pradesh and Telengana is on track and it will gain momentum in the coming quarters."

Q1 FY21 Consolidated Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 5,020 million, up 10% y-o-y
• Revenue (ex. EPC) at ₹ 4,717 million, up 20% y-o-y
• CATV subscription revenue at ₹ 2,653 million, up 7% y-o-y
• Broadband revenue at ₹ 527 million, up 34% y-o-y
• EBITDA at ₹ 1,287 million, up 11% y-o-y; EBITDA (ex. EPC) at ₹ 1,261 million; up 14% y-o-y; EBITDA margin (ex. EPC) at 26.7%
• Q1 FY21 EPC Contract revenue, EBITDA and PBT at ₹ 303 million, ₹ 26 million and ₹ 20 million respectively.

Q1 FY21 Standalone Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 3,489 million, up 10% y-o-y
• Revenue at (ex. EPC) ₹ 3,186 million; up 26% y-o-y
• CATV subscription revenue at ₹ 1,827 million; up 12% y-o-y
• EBITDA at ₹ 819 million, up 3% y-o-y; EBITDA (ex. EPC) at ₹ 792 million, up 6% y-o-y;EBITDA margin (ex. EPC) at 24.9%
• PAT at ₹ 305 million; up 21% y-o-y

Business Performance Highlights

CATV

• GTPL's total seeded STBs as on June 30, 2020 stood at 10.21 million
• Paying subscribers as on June 30, 2020 stood at 7.20 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 Q1 FY21, the company added 1,80,000 home-pass. Home-pass as on June 30, 2020 stood at 3.51 million
• Added 50,000 net broadband subscribers including 20,000 FTTX subscribers during Q1 FY21. Total subscribers as on June 30, 2020 were 455,000 of which 120,000 are FTTX subscribers
• The Broadband average revenue per user (ARPU) for Q1 FY21 stood flat at ₹ 422
• GTPL is in a sweet spot for converting Gujarat (4.4 million) and West Bengal (2.4 million) households into its Broadband subscribers
• 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

EPC Business

• As of Q1 FY21, GTPL connected 3,100 Gram Panchayats (GPs) of total 3,600 GPs in 10 Districts
• As of Q1 FY21, the Company completed ~14,000 kms T&D of the total ~17,000 kms T&D target

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 reach 800 plus towns across India, including towns in Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Assam, Jharkhand, Telangana, Rajasthan, Andhra Pradesh & Tamil Nadu. As on June 30, 2020, we have seeded approximately 10.21 million STBs and had approximately 7.20 million paying subscribers and 455,000 Broadband Subscribers with a home-pass of about 3.51 million.

For media queries, please contact:
Piyush Pankaj
Head - CATV Business & Chief Strategy Officer
[email protected]
+91-98113-21102

Mehul Mehta
Director - Dickenson World
[email protected]
+91-98202-80325