India: GTPL Hathway subs up, profits down
October 10, 2024
GTPL Hathway Limited, the Indian digital cable TV and broadband service provider has announced its financial results for the quarter ended September 30th 2024. Key consolidated business & financial highlights include:
- Q2 FY25 Total revenue stood at ₹ 8,620 million (€93.8m), a growth of 9 per cent Y-o-Y.
- EBITDA for Q2 FY25 stood at ₹ 1,138 million with an EBITDA Margin of 13.2 per cent and an operating EBITDA margin of 22 per cent.
- Q2 FY25 Profit After Tax stood at ₹ 129 million, down 63 per cent on the previous quarter
Operational Highlights for the Quarter
Digital Cable TV
- Active subscribers were 9.5 million as of September 30th 2024 with an increase by 100K Y-o-Y.
- Paying subscribers stood at 8.8 million; increasing by 100K Y-o-Y.
- Launched revamped website with minimalistic and user friendly UI.
- Launched GTPL Buzz, GTPL’s customer application, featuring a new and easy to navigate design and a host of new features including TV Everywhere, Cloud Gaming, etc.
- The new customer direct touchpoints have been designed for a consistent user experience and to deliver seamless interaction across platforms and devices.
Broadband
- Increase in broadband subscribers by 50K Y-o-Y thus standing at 1040K.
- Homepass as on September 30th 2024, stood at 5.95 million – an addition of 400K Y-o-Y. Of the 5.95 million, 75 per cent available for FTTX conversion.
- Broadband average revenue per user (ARPU) stood at ₹ 460 per month per subscriber for the quarter.
- Average data consumption per user per month was 350 GB, an increase of 13 per cent Y-o-Y.
Anirudhsinh Jadeja, Managing Director at GTPL Hathway, 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 during the quarter. These customer touchpoints have been designed for a consistent user experience and to deliver seamless interaction across platforms and devices. 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,” added Jadeja.