GTPL Hathway's Q2 revenue up 10% driven by growth in broadband biz
The net profit of the content distribution company jumped 6% to Rs 45.9 crore from Rs 43.3 crore
Content distribution company GTPL Hathway has reported 10% growth in Q2 revenue at Rs 662 crore compared to Rs 599.2 crore in the same quarter of the previous fiscal. The revenue growth was driven by the broadband segment which grew by 19% to Rs 119.8 crore from Rs 100.6 crore. The cable TV segment witnessed flat growth at Rs 275.1 crore against Rs 271.5 crore.
Net profit jumped 6% to Rs 45.9 crore from Rs 43.3 crore. EBITDA came in at Rs 138.3 crore, a 4.15% increase over Rs 144.3 crore. The company's expenditure rose 15% to Rs 524 crore from Rs 455 crore due to a 14% jump in pay channel cost at Rs 339.1 crore.
GTPL Hathway's active digital cable TV subscriber base increased by 550,000 Y-o-Y to 8.60 million. The company has been widening its footprint in its existing markets and penetrating new markets through both organic and inorganic routes.
Its broadband subscriber base increased by 135,000 to end the quarter at 870,000. It added 300,000 homes to take the total home passes to 5 million in H1 FY23. Of the 5 million, 75% of home passes are available for FTTX conversion.
The Average Revenue Per User (ARPU) for Q2 FY23 stood at Rs 450 per month while the average data consumption per user per month increased 33% YoY to 300 GB.
Commenting on the results, GTPL Hathway MD Anirudhsinh Jadeja said, “We are proud to have delivered on our key KPIs during H1 FY23 by focusing on our key growth objectives. We remain the largest MSO in India riding on our quality services and consumer-centric products and services. We expect to grow our Digital Cable TV business by aggregating smaller MSOs and additionally, expanding the broadband penetration to the Digital Cable TV base.
"The Broadband segment presents a great opportunity for growth due to consistent increase in demand for wired broadband and increasing data consumption patterns. We aim to capitalize on the immense opportunity for growth and to contribute to the digital growth story of India across rural and urban areas."
