GTPL Hathway Q3 revenue up 9% to Rs 611 crore

GTPL Hathway has reported a 9% increase in consolidated revenue at Rs 611 crore for the quarter ended 31st December, 2021, as against Rs 562.3 crore in the same quarter of the last fiscal.

The cable TV and broadband service provider has reported a drop in cable TV subscription revenue by 1% to Rs 270.2 crore from Rs 272 crore. Its broadband revenue has jumped 35% to Rs 105.4 crore from Rs 78 crore.

While the total expenditure rose 11% to Rs 464 crore from Rs 419 crore in the previous fiscal, the pay channel cost was up 9% to Rs 302 crore from Rs 277.1 crore.

EBITDA grew 3% to Rs 147.2 crore from Rs 143 crore. Net profit was up 21% to Rs 55 crore from Rs 45 crore.

During the quarter, the cable TV paying subscribers stood at 7.50 million. GTPL continues to widen its footprint in its existing markets and penetrate new markets through organic and inorganic routes.

It has added 1,30,000 net broadband subscribers during 9M FY22. The total number of subscribers stands at 7,65,000 of which 2,90,000 are FTTX subscribers. The broadband average revenue per user (ARPU) for Q3 FY22 is Rs 445 crore.

Commenting on the performance, GTPL Hathway MD Anirudhsinh Jadeja said, "The highlight of 9M FY22 performance was CATV business expansion in new states coupled with robust subscriber additions and subscription revenues for the broadband business. On the broadband side, the company is expanding in Gujarat and is penetrating other states through business partners. GTPL Hathway added 130,000 net broadband subscribers in 9M FY22. The company adheres to follow its strategic roadmap by offering a value proposition to its esteemed consumers and constantly enriching their experience.”