GTPL Hathway Shares Slipped Over 2%: Q2 FY25 PAT Dropped ~62.5% YoY

GTPL Hathway Limited, India’s largest digital cable TV service provider and a leading broadband service provider, has released its financial results for the quarter ending September 30, 2024. For Q2 FY25, total revenue reached ₹8,620 million, reflecting a 9% year-over-year growth. The EBITDA for the same quarter was ₹1,138 million, with an EBITDA margin of 13.2% and an operating EBITDA margin of 22%. Profit after tax for Q2 FY25 was ₹129 million, which was down 62.5% YoY.

Operational Highlights for the Quarter:

Digital Cable TV

• Active subscribers numbered 9.50 million as of September 30, 2024, an increase of 100,000 year-over-year.
• Paying subscribers stood at 8.80 million, also rising by 100,000 year-over-year.
• A revamped website (www.gtpl.net) was launched, featuring a clean, minimalistic design and user-friendly interface. Additionally, “GTPL Buzz,” the new customer application, was introduced, boasting an easy-to-navigate layout and various new features, including TV Everywhere and cloud gaming.
• New customer interaction points have been developed to ensure a consistent user experience and seamless engagement across platforms and devices.

Broadband

• Broadband subscribers increased by 50,000 year-over-year, totaling 1,040,000.
• Home passes as of September 30, 2024, reached 5.95 million, with a year-over-year addition of 400,000. Of these, 75% are available for FTTX conversion.
• The average revenue per user (ARPU) for broadband stood at ₹460 per month for the quarter.
• Average data consumption per user per month increased by 13% year-over-year to 350 GB.

Commenting on the results, Mr Anirudhsinh Jadeja – Managing Director, GTPL Hathway Limited said, “GTPL maintains its stronghold as the largest MSO of India with a commitment to meet all entertainment and connectivity needs of our valued customers, driven by a strong focus on innovation and enhancing the customer experience. In line with this vision, GTPL launched the customer app ‘GTPL Buzz’ and its revamped website (www.gtpl.net) during the quarter. These customer touchpoints have been designed for a consistent user experience and to deliver seamless interaction across platforms and devices.”

He further stated,” The launches are significant with a suite of services including ‘TV Everywhere’, ‘Blacknut Cloud Gaming’ and ‘Distro TV’, being made available to our customers while integrating GTPL’s AI-enabled chatbot ‘GIVA’ for sales as well as support. Broadband business is witnessing healthy subscriber growth, propelled by both direct customer additions and with 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. We look forward to continue delivering value to our subscribers and stakeholders.” 

On October 10, 2024, GTPL Hathway shares opened at ₹161.05 and touched the day low of ₹159.70 at 09:25 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.