GTPL Hathway Q2 Results: Net Profit Plunges Nearly 62%

The net profit of GTPL Hathway Ltd. fell 61.8% in the second quarter of the current financial year.

The digital cable TV service provider posted a profit of Rs 13.7 crore for the quarter ended September, compared to Rs 35.9 crore in the same quarter of the previous fiscal, according to a stock exchange notification on Wednesday.

Revenue rose 9.8% year-on-year to Rs 856 crore in the three months ended September in comparison to Rs 779 crore in the same period for the fiscal ended March 2024.

The digital cable TV revenue of GTPL Hathway stood at Rs 312.9 crore, while the broadband revenue was at Rs 136.7 crore, according to a press release by the company.

Operating income, or Ebitda, fell 13.6% YoY to Rs 107 crore. The Ebitda margin contracted to 12.5% from 15.9% in the same period in the previous year.

As of Sept. 30, the company had an active subscriber base of 9.50 million, while the number of paying subscribers grew to 8.80 million. The broadband average revenue per user for the quarter stood at Rs 460 per month.

"Broadband business is witnessing healthy subscriber growth, propelled by both direct customer additions and strategic use of our extensive partner network to expand. In the cable business, our efforts are focused on growing our subscriber base through a mix of organic growth and industry consolidation via acquisitions of existing operators and MSOs. This dual strategy strengthens our market position and builds on our success," said Anirudhsinh Jadeja, managing director of GTPL Hathway.

The shares of GTPL Hathway rose as much as 2.21% during the day to Rs 167.94 apiece on the NSE. The stock closed 0.61% higher at Rs 165.31 apiece. This compares with a 0.12% decline in the benchmark Nifty 50. It has fallen 4.53% in the last 12 months and 11.91% year-to-date.