GTPL Hathway revenue jumps 20% Y-o-Y in FY24
The total number of active digital cable TV subscribers stood at 9.5 million as of March 31, 2024
GTPL Hathway Ltd has reported an annual revenue growth of 20% in the financial year ending March 31, 2024.
As per its financial results for the fourth quarter and the year, the total revenue of GTPL Hathway, one of the largest Digital Cable TV and Broadband service providers in India, increased from Rs 2,714 crore in FY23 to Rs 3,246 crore in FY24.
The company saw a 16% jump in its revenue in the fourth quarter of FY24 on a Y-o-Y basis with Rs 814.8 crore in Q4 FY24, up from Rs 701.7 crore in Q4 FY23.
The subscription revenue of the company’s digital cable TV service also increased by 14% to Rs 314.8 crore in Q4 FY24. The total number of active digital cable TV subscribers stood at 9.5 million as of March 31, 2024, up by 5.5 lakh in the same period previous fiscal.
It also reported a Y-o-Y increase in its broadband subscribers by one lakh, taking it to over one million (10.2 lakh) at the end of FY24.
Commenting on the results, Anirudhsinh Jadeja, Managing Director, GTPL Hathway Ltd said, “At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India's leading MSO gaining half a million active subscribers in Digital Cable TV and crossing the landmark of one million active subscribers in Broadband.”
He further said that, “We anticipate sustained growth in the Digital Cable TV sector, encouraged by market shifts favouring larger, organized MSOs like ours. The Broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity.”
He said that GTPL Hathway’s long-term strategy involves bundling of all existing verticals along with add-ons of TV Everywhere, Gaming and other services to provide a holistic, comprehensive solution to the customer’s media consumption needs.
“Our goal is to deeply embed ourselves in our customers' lives, positioning our brand as a service provider that seamlessly combines the best of entertainment and connectivity,” he said.
In the fourth quarter of FY24, the EBITDA of the company stood at Rs 119.8 crore, up by 8% Y-o-Y from Q4FY23. However, it reduced by 1% annually from FY23 to FY24.
The total expenses of the company for Q4 FY24 stood at Rs 793 crores, up from Rs 693 crore in Q4 FY23. Annually, the expenses increased from Rs 2,526 crore in FY23 to Rs 3,095 crore in FY24.
The company, however, saw a profit decline from Rs 125 crore in FY23 to Rs 111.3 crore in FY24.
