GTPL Hathway reports strong financial growth for FY24 with Rs 3,246cr revenue
GTPL Hathway Limited, India’s largest Digital Cable TV Service Provider and a prominent Broadband Service provider, has announced its financial results for the quarter and the financial year ending March 31, 2024. The company witnessed significant growth across its key business segments, solidifying its market leadership in digital services.
The company reported a total revenue of ₹32,460 million for FY24, marking a 20% year-over-year (Y-o-Y) increase. Subscription revenue saw a 15% increase Y-o-Y, while Broadband revenue grew by 9%. The fourth quarter alone saw revenue reach ₹8,148 million, a 16% increase from the previous year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the year stood at ₹5,111 million, with an EBITDA margin of 15.7%.
Key Business and Financial Highlights
– Digital Cable TV: Active subscribers reached 9.50 million by March 31, 2024, with a Y-o-Y increase of 550,000. Subscription revenue for the sector grew by 14% Y-o-Y.
– Broadband: The sector saw its subscribers increase to 1,020,000, with significant infrastructure expansion reflected by a 500,000 Y-o-Y increase in Homepass, with 75% available for Fiber-to-the-Home (FTTH) conversion.
Mr. Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited, reflected positively on the company’s performance, emphasizing the strategic advancements and customer-centric innovations that have defined the year. “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,” Jadeja commented.
GTPL Hathway plans to continue its growth trajectory, particularly in the broadband segment, which is expected to expand significantly due to increasing consumer demand for reliable wired connectivity.
The company’s long-term strategy includes bundling existing services with additional features like TV Everywhere, Gaming, and other digital services, aiming to provide a comprehensive solution for customers’ media consumption needs.
GTPL Hathway’s financial results indicate a robust performance and strategic positioning to capitalize on the growing digitalization trends in India. The company’s focus on expanding its subscriber base and enhancing service offerings is likely to drive sustained growth in the competitive market. With its comprehensive approach to integrating entertainment and connectivity, GTPL Hathway is well-positioned to meet the evolving demands of modern consumers.