GTPL Hathway Q4 consolidated revenue up 4% to Rs 620.9 crore

Digital cable TV and broadband service provider GTPL Hathway's consolidated revenue for the quarter ended 31st March has increased 4% to Rs 620.9 crore as against Rs 599.1 crore in the same quarter last year.

EBITDA was down 2% to Rs 140 crore from Rs 142.3 crore. Net profit saw a 3% decline at Rs 55.2 crore compared to Rs 57.1 crore. Total expenditure was up 5% at Rs 480.9 crore from Rs 456.7 crore.

While digital cable TV revenue stood at Rs 269.5 crore as against Rs 266.5 crore, broadband revenue has grown 34% to Rs 109.8 crore from Rs 81.7 crore.

The expenditure for the quarter was up 5% to Rs 480.9 crore from Rs 456.7 crore. Pay channel cost was up 7% to Rs 313.6 crore as against Rs 292.6 crore.

For the full fiscal, total revenue (Ex. EPC) rose 12% to Rs 2415.4 crore from Rs 2148.4 crore in FY21. Net profit jumped 6% to Rs 200.6 crore from Rs 188.5 crore. EBITDA rose 4% to Rs 567.7 crore from Rs 545.5 crore.

Cable TV subscription revenue was flat at Rs 1075.3 crore compared to Rs 1071.2 crore. Broadband revenue increased 46% to Rs 407.5 crore from Rs 279.2 crore.

The company's pay channel cost increased 17% to Rs 1213.7 crore from Rs 1041.8 crore. Total expenditure rose 15% to Rs 1847.7 crore from Rs 1602.9 crore.

The company's paying subscribers as of March 31, 2022, stood at 7.80 million. GTPL continues to widen its footprint in its existing markets and penetrate new markets through both organic and inorganic routes.

The company expanded operations in five additional States during FY22.

In FY22, the company added 830K Home-pass. Home-pass as of March 31, 2022, stood at 4.70 million. It added 181K net broadband subscribers in FY22. Total subscribers as of March 31, 2022, were 816K, of which 360K are FTTX subscribers.

The average revenue per user (ARPU) for Q4 FY22 stood at Rs 450.

Commenting on the results, GTPL Hathway MD Anirudhsinh Jadeja said, “We are proud to announce another year of consistent performance across all business segments. GTPL is now the largest MSO in the country, continues to be the largest MSO and Broadband player in Gujarat, and has a significant presence in all other markets.

We continued to deliver on our KPIs and grew by expanding into new geographies as well as penetrating deeper into existing markets. The key highlights of FY22 are stable subscription revenues, profitability, and return ratios with a healthy balance sheet. The Company’s Board has recommended a dividend of Rs 4 per share for FY22.

The launch of GTPL Genie is a path-breaking initiative bringing subscription of bundled Live TV and OTT applications at competitive prices to our consumers. We are committed to delivering value to all our stakeholders with adept and prudent financial practices.”