GTPL Hathway's Consolidated Q1 FY20 PAT at INR 294 Million, up 121% Y-o-Y

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GTPL Hathway Limited

10 Jul, 2019, 18:37 IST

AHMEDABAD, India, July 10, 2019 /PRNewswire/ --

Key Highlights

  • Consolidated Q1 FY20 revenue at ₹ 4,543 million; up 50% y-o-y
  • Q1 FY20 subscription revenue at ₹ 2,472 million; up 47% y-o-y
  • Q1 FY20 EBITDA ₹ 1,156 million; up 38% y-o-y
  • Q1 FY20 PAT at ₹ 294 million; up 121% y-o-y
  • Seeded 200,000 STBs and added 300,000 digital paying subscribers during Q1 FY20
  • Added 240,000 new home pass; added 15,000 net broadband subscribers and 10,000 FTTX subscribers (67% of net addition) during Q1 FY20
  • Consumption per customer at 120 GB/month as on June 2019; up from 38 GB/month in March 2017; Data consumption increased 3x over two years' period

GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the First quarter of Financial year 2019 - 20, as approved by its Board of Directors. 

Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway said, "Q1FY20 was the first full quarter with New Tariff Order (NTO), which has led to significant growth in subscription revenue. Subscription revenue grew by 47% on a y-o-y basis. Overall, our first quarter performance was in line with our expectation and we see our next three quarters equally exciting. With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry's first dual service product 'GTPL GIGAHD' to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage. We will further increase the pace of growth momentum towards CATV and Broadband business in FY 2019 - 20."

Q1 FY20 Consolidated Financial Performance Highlights (as per IND AS)

  • Revenue (ex. EPC) at ₹ 3,911 million, up 29% y-o-y
  • CATV subscription revenue at ₹ 2,472 million, up 47% y-o-y
  • Broadband revenue at ₹ 393 million, up 9% y-o-y
  • EBITDA (ex. EPC) at ₹ 1,103 million; up 32% y-o-y; EBITDA margin (ex. EPC) at 28.2% up by 60 bps
  • Profit after tax (ex. EPC) at ₹ 266 million; up 100% y-o-y
  • Q1 FY20 EPC Contract revenue, EBITDA and PAT at ₹ 632 million, ₹ 52 Million and ₹ 29 million respectively.

Q1 FY20 Standalone Financial Performance Highlights (as per IND AS)

  • Revenue at (ex. EPC) ₹ 2,538 million; up 27% y-o-y.
  • CATV subscription revenue at ₹ 1,631 million; up 45% y-o-y.
  • EBITDA (ex. EPC) at ₹ 745 million up 31% y-o-y; EBITDA margin (ex. EPC) at 29.4% up by 90 bps
  • Profit after tax (ex. EPC) came in at ₹ 223 million; up 135% y-o-y

Business Performance Highlights

CATV

  • GTPL seeded 200,000 STBs during first quarter FY20, taking total seeded STBs as on June 30, 2019 to 9.70 million. Digital paying subscribers as on June 30, 2019 stood at 7.1 million, increased by 300,000 mainly due to reactivation of service by existing subscribers.
  • Phase wise Seeded Boxes as on June 30, 2019 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 0.86 million, 2.26 million, 3.00 million and 3.58 million respectively.

Broadband

  • During Q1 FY20, the company added 240,000 Home Pass. Home Pass as on June 30, 2019 stood at 2.66 million. ~50% of Home pass are available for FTTX connections.
  • Added 15,000 net broadband subscribers during Q1 and 10,000 FTTX subscribers (67% of net addition). Total subscribers as on June 30, 2019 were 340,000 of which 64,000 are FTTX subscribers.
  • The Broadband average revenue per user (ARPU) for Q1 FY20 was ₹ 420.

About GTPL Hathway Limited

GTPL Hathway Limited is one of India's leading Digital Cable TV and Broadband service providers. We are number 1 Cable TV Provider in Gujarat with 67% market share. Our digital cable television services reached 500 plus towns across India, including towns in Gujarat, West Bengal, Maharashtra, Goa, Bihar, Assam, Jharkhand, Telangana, Rajasthan and Andhra Pradesh. As on June 30, 2019, we have seeded approximately 9.7 million STBs and had approximately 7.1 million paying subscribers and 340,000 Broadband Subscribers with a home pass of about 2.66 million.

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Piyush Pankaj
Chief Strategy Officer
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Mehul Mehta
President - Dickenson Financial PR
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