GTPL Hathway Q4 Results: Company back in black with Rs 16-crore net profit

GTPL Hathway reported a consolidated net profit of Rs 16 crore for the quarter ending March 31, compared to a net loss of Rs 11 crore in the same quarter of the previous fiscal.

The Gujarat-headquartered cable TV and broadband service provider’s revenue for the quarter increased 16% to Rs 814 crore, while expenses jumped 14% to Rs 792 crore.

The company’s net profit increased by 10% to Rs 111 crore in the fiscal year ending March 2024, driven by a 20% increase in revenue to Rs 3246 crore even as expenses jumped 23% to Rs 3095 crore.

GTPL Hathway’s active subscriber base grew by 0.55 million YoY to 9.50 million. The company’s paying subscribers stood at 8.80 million, up by 0.6 million YoY.

Broadband subscribers increased by 0.1 million YoY to 1.02 million. The total homepass reached 5.80 million, an increase of 0.5 million, with 75% of it available for FTTX conversion.

The broadband average revenue per user (ARPU) stood at Rs 460 per month per subscriber for the year. Average data consumption per user per month stood at 355GB, an increase of 10% YoY.”At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India’s leading MSO, gaining half a million active subscribers in digital cable TV and crossing the landmark of one million active subscribers in broadband. We anticipate sustained growth in the digital cable TV sector, encouraged by market shifts favouring larger, organised MSOs like ours. The broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity,” said GTPL Hathway MD Anirudhsinh Jadeja.”Our long-term strategy involves bundling all existing verticals along with add-ons of TV Everywhere, Gaming, and other services to provide a holistic, comprehensive solution to our customers’ media consumption needs. Our goal is to deeply embed ourselves in our customers’ lives, positioning our brand as a service provider that

seamlessly combines the best of entertainment and connectivity.”

The company has entered three new states, Delhi, Haryana, and Uttarakhand, and is expanding aggressively in Andhra Pradesh, Telangana, Tamil Nadu, North-East, and Haryana.