GTPL Hathway’s active cable TV subscribers have increased by 8 lakhs to reach 94 lakhs in the second quarter of FY24 compared to the same period last year. It’s paying subscribers have increased by 7 lakhs taking the number to 87 lakhs.
In the broadband business, the company saw an increase of 12.2 lakh subscribers in Q2 with average data consumption of 310 GB.
The company saw 19 per cent growth in revenue in Q2 compared to the same quarter last year. The total revenue of the company for Q2 FY24 stood at Rs 790 crore, up from Rs 662 crore in the corresponding quarter previous fiscal.
The total revenue for H1 grew 20% compared to last year same period.
For H1 FY24, the company posted revenue of Rs 1570.5 crore, up from Rs 1307.4 crore in H1 FY23.
The subscription revenue from cable TV services for Q2 FY24 saw a growth of 17% Y-o-Y at Rs 322.6 crore, an increase from Rs 275 crore in Q2 FY23.
The operating income of the company was down by 5% in Q2 FY24 compared to the same period previous fiscal but on a H-o-H basis, it was up by 8% in H1 FY24 compared to H1 FY23.
EBITDA of GTPL Hathway stood at Rs 260.9 crore in the first half of FY24. The second quarter saw a decrease in EBITDA from Rs 138.3 crore in Q2 FY23 to Rs Rs 135.1 crore in FY24.
The total expenses of the company increased by 25% in Q2 FY24 at Rs 654 crore, up from Rs 523 crore in Q2 FY24.
Profit after tax for the company declined by 25% in this quarter Y-o-Y from Rs 45.9 crore in Q2 FY23 to Rs 34.4 crore this quarter.
Commenting on the results, Anirudhsinh Jadeja, Managing Director, GTPL Hathway Limited said, “GTPL strengthened its leadership position and continued to be the largest MSO and a leading wireline broadband service provider in the country during the quarter. The company is continuously expanding and working towards further strengthening its market leadership across its areas of operation. During the quarter, the company onboarded Kartik Aaryan and Rashmika Mandanna as its new brand ambassadors who bring fresh energy to the brand."