GTPL Hathway Delivers Solid Q1FY25 Results with Subscriber Growth and Revenue Rise

GTPL Hathway Limited, India’s leading Digital Cable TV and Broadband service provider, announced positive financial results for the quarter ending June 30, 2024 (Q1FY25). The company demonstrated consistent growth across key metrics, showcasing a robust business performance.

Financial Highlights

• Revenue: GTPL Hathway reported a total revenue of ₹8,506 million in Q1FY25, reflecting a 4% growth quarter-over-quarter (QoQ) and a healthy 9% year-over-year (YoY) increase. Notably, Subscription Revenue saw a significant YoY rise of 7%.
• Profitability: Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹1,205 million, translating to a healthy EBITDA margin of 14.20%. Furthermore, Profit After Tax (PAT) increased by 12% QoQ to ₹143 million.
• Financial Stability: Highlighting its financial strength, GTPL Hathway’s credit ratings were reaffirmed at ‘IND AA-’/Stable by India Ratings.

Subscriber Growth and Strong Performance in Both Segments:

• Digital Cable TV: GTPL Hathway’s core business continues to thrive. The company boasts an impressive subscriber base of 9.60 million as of June 30th, 2024, reflecting a growth of 1,00,000 QoQ and a substantial 5,50,000 YoY. Paying subscribers also rose considerably, reaching 8.90 million, representing increases of 1,00,000 QoQ and 6,00,000 YoY. This subscriber growth directly contributed to the 7% YoY rise in Subscription Revenue.
• Broadband: The Broadband segment also witnessed positive development. The subscriber base expanded to 1.03 million, up 10,000 QoQ and 70,000 YoY. Additionally, Homepass – a combined offering of internet, telephone, and IPTV services – reached 5.90 million subscribers by June 30th, 2024, signifying a significant annual increase of 5,00,000. Importantly, 75% of these Homepass connections have the potential for Fiber-To-The-Home (FTTX) conversion, opening doors for future upgrades. Strong subscriber growth was complemented by a robust average revenue per user (ARPU) of ₹460 per month and a 13% YoY increase in average data consumption per user, reaching 350 GB per month.

“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,” said Mr Anirudhsinh Jadeja, Managing Director, GTPL Hathway.

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