GTPL Hathway's Consolidated Q2 FY2019 PAT at INR 154 Million, up 28% Y-o-Y

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GTPL Hathway Limited

14 Nov, 2018, 16:29 IST

AHMEDABAD, India, November 14, 2018 /PRNewswire/ --

Key Highlights 

  • Consolidated Q2 FY19 revenue up 14% y-o-y
  • Q2 FY19 consolidated EBITDA up 12% y-o-y
  • Consolidated Q2 PAT up 28% y-o-y
  • Consolidated Q2 FY19 CATV subscription revenue up 22% y-o-y
  • Seeded 300,000 STB boxes and added 170,000 CATV Digital Paying Subs during Q2 FY19
  • Added 14,000 broadband subscribers during Q2 FY19
  • Q2 FY19 broadband revenue up 1% y-o-y
  • Launched GTPL GIGA[HD], a product with service package combining broadband and cable services under a single package

GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the second quarter and half year ended on September 30, 2018 as approved by its Board of Directors. 

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Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway, said, "With consolidated revenue up by 14% and consolidated PAT up by 28%, GTPL continued to report strong growth and profitability in Q2 as well. We continue to pursue our dual approach for growth, by launching innovative service offerings for customers, and monetising our existing unmatched infrastructure. We recently launched GTPL GIGA[HD] , a first-of-its-kind product which combines broadband and cable services under one package. This has been well-received in Gujarat. We recently bagged prestigious INR 12.46 billion Bharat Net phase II project which will provide broadband connectivity to rural Gujarat, at the same time, giving us an opportunity to monetise our infrastructure."

Q2 FY 2019 Consolidated Financial Performance Highlights (as per IND AS) 

  • Revenue at INR 3174 million up by 14% y-o-y
  • CATV subscription revenue at INR 1775 million, up 22% y-o-y
  • EBITDA at INR 902 million; up 12% y-o-y; EBITDA margin as percentage to revenue at 28.4%
  • Profit after tax came in at INR 154 million, up 28% y-o-y

H1 FY 2019 Consolidated Financial Performance Highlights (as per IND AS) 

  • Revenue at INR 6205 million up by 15% y-o-y.
  • CATV subscription revenue at INR 3451 million, up 26%
  • EBITDA at INR 1743 million; up 16% y-o-y; EBITDA margin as percentage to revenue at 28.1%
  • Profit after tax came in at INR 287 million, up 3% y-o-y

Q2 FY19 Standalone Financial Performance Highlights (as per IND AS) 

  • Revenue at INR 2052 million up by 12% y-o-y.
  • CATV subscription revenue at INR 1140 million up 14% y-o-y.
  • EBITDA at INR 571 million, down 2.48% y-o-y
  • Profit after tax came in at INR 102 million

H1 FY19 Standalone Financial Performance Highlights (as per IND AS) 

  • Revenue at INR 4044 million up by 12% y-o-y.
  • CATV subscription revenue at INR 2268 million up 19% y-o-y.
  • EBITDA at INR 1142 million; down 1.2% y-o-y
  • Profit after tax at INR 196 million

Business Performance Highlights 

CATV 

  • GTPL seeded 300,000 STBs during the second quarter of FY 2019, taking total seeded STBs as on September 30, 2018 to 9.2 million. Added 200,000 Active STB subscribers during the quarter, taking total active STB subscribers as on September 30, 2018 to 7.8 million. Added 170,000 digital paying subscribers during the quarter to take the total digital paying subscribers as on September 30, 2018 to 7.28 million.
  • During Q2 FY19, Phase 3 and Phase 4 ARPU increased by 6% and 11% respectively
  • The average CATV revenue per user (ARPU) as on September 30, 2018 for Phase1, Phase 2, Phase 3 and Phase 4 at INR 103, INR 102, INR 67 and INR 60 respectively. Phase wise Seeded Boxes as on September 30, 2018 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 0.85 million, 2.22 million, 2.78 million and 3.35 million respectively

Broadband 

  • During Q2, the company added 270,000 Home Pass. Home Pass as on September 30, 2018 stood at 1.8 million.
  • Added 14,000 broadband subscribers during Q2. Total subscribers as on September 30, 2018 were 304,000, of which 30,000 are FTTX subscribers.
  • The Broadband average revenue per user (ARPU) for Q2 FY19 was INR 450.
  • In an industry's first, the company launched GTPL GIGA[HD], a dual service package combining broadband and cable services under a single package in a price range between INR 499 to INR 799 (Net of taxes). Having launched GTPL GIGA[HD] successfully in Gujarat, the company will progressively launch this service in other states.
  • Recently, GTPL was appointed as Project Implementation Agency (PIA) of Package B for implementation of BharatNet Phase - II Project in the state of Gujarat by Gujarat Fibre Grid Network Limited (GFGNL). The project value of INR 12.46 billion includes Capex and 3 Years O&M (Operation & Maintenance). The contract also includes further option of an extension of additional 4 Years of O&M mandate at additional value. Under the project, GTPL will connect 3,767 GPs (Gram Panchayat, Package B, Saurashtra region), by implementing end-to-end Optic Fibre Cable and digital infrastructure (GPON technology) at Centralized network operations centre of Gandhinagar in Gujarat.

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 September 30, 2018, we have seeded approximately 9.2 million STBs and had approximately 7.8 million active digital cable subscribers and 304,000 Broadband Subscribers with a home pass of about 1.8 million.

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