GTPL Hathway Q2 FY24 earnings: Revenue hits Rs 7,900m with 19% Y-o-Y growth

India’s market leader in Digital Cable TV services and a prominent Broadband service provider, GTPL Hathway Limited, revealed its Q2 FY24 earnings, marking significant revenue growth and strengthening its broadband subscriber base.

GTPL Hathway Financial Highlights

For Q2 FY24, GTPL Hathway recorded a revenue of ₹ 7900 million, reflecting a 1% growth Q-o-Q and a remarkable 19% increase Y-o-Y. The Subscription Revenue surged by 8% Q-o-Q and 17% Y-o-Y, while the Profit After Tax settled at ₹ 344 million. A deeper look into their financials reveals:

• Digital Cable TV Revenue: ₹ 3,226 million, up 17% Y-o-Y.
• Broadband Revenue: ₹ 1,317 million, a growth of 10% Y-o-Y.
• EBITDA: ₹ 1,351 million with an EBITDA Margin of 17.1%.

Broadband and Digital Cable TV Expansion

GTPL Hathway’s broadband business saw an increase of 120K subscribers Y-o-Y, totaling to 990K active subscribers by the end of September 2023. Their Homepass reached 5.55 million, with 75% of them available for FTTX conversion. In the Digital Cable TV sector, active subscribers grew by 800K Y-o-Y, and GTPL expanded its services to regions including Andhra Pradesh, Tamil Nadu, North-East, and Delhi.

Brand and Marketing Initiatives

Boosting their branding endeavors, GTPL Hathway brought onboard film stars Kartik Aaryan and Rashmika Mandanna as brand ambassadors. To further its market reach, the company also launched a comprehensive “#AbKeZamaneKaConnection” campaign spanning across various media platforms.

GTPL Hathway Executive Comments

Reflecting on the results, Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited, emphasized the company’s continued leadership in the market. “GTPL solidified its position as the country’s top MSO and wireline broadband service provider,” he remarked. Jadeja also highlighted the induction of Aaryan and Mandanna, who, according to him, infuse fresh energy into the brand.