GTPL Hathway’s consolidated PAT for FY20 stands at Rs 77 crore, up 302%
The company posts Rs 666.5 crore revenue for Q4 FY20, up 91% y-o-y
GTPL Hathway Limited (GTPL) has announced the financial results for the fourth quarter and year ended March 31, 2020.
GTPL Hathway Limited has posted a revenue of Rs 6,66.5 crore for Q4 FY20, up 91% y-o-y. While the CATV subscription revenue stands at Rs 264.7 crore, up 27% y-o-y, broadband revenue is at Rs 46.1 crore, up 27% y-o-y.
For FY20, the revenue stands at Rs 2424.7 crore, up 88% y-o-y. While the CATV subscription revenue is at Rs 1030.8 crore, up 41% y-o-y, broadband revenue stands at ₹ 167.4 crore, up 16% y-o-y. The Profit After Tax comes to Rs 77 crore, up 302% y-o-y.
The board has recommended a final dividend of Rs 3 (30%) per equity share of face value Rs 10 for the year ended 31st March 2020 subject to shareholder’s approval at the ensuing AGM.
Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, “Amidst a year of industry reforms, GTPL Hathway has emerged as a stronger company. Our operating ability to expand our services have improved and so has our ability to generate free cashflow. The highlight of FY20 was strong profitability, debt reduction and geographical expansion. Our FY20 consolidated revenue and EBITDA grew by 88% and 39%, respectively. During the year, we have reduced our gross debt by Rs 1,293 million. During the year, we have strengthened our CATV presence in Mumbai (Maharashtra) and have entered Chennai (Tamil Nadu). We have also expanded our subscribers base in Andhra Pradesh and Telangana in FY20.
“FY20 was the first full year of implementation of the new framework across the industry. Implementation of new regime prima facie resulted in change in LCOs’ earning profile adversely and restricted their cash flow cycle, consequently, lowering their ability to pay their dues to the Company. Pursuant to the above change and assessment carried out by the management, we have recognised Rs 679.64 million towards impairment of trade receivables and have disclosed the same as “Exceptional Item”.
