The stake sale in GTPL Space City Private Limited amounting to 61.5 stake which amounts to the entire stake has resulted in the company ceasing to be a subsidiary of GTPL Hathway.
The company will also launch the Hybrid box in select Phase-III and Phase-IV markets with subsequent roll out in other markets.
GTPL had kept its ARPU share between DPO and LCO very low compared to other industry players after the NTO implementation in 2019.
Out of the 300 million households in India there are around 200 million TV households and 100 million cable households in the country.
GTPL will offer digital set-top-box with 3 months subscription at Rs 900, 6 month subscription with new connection at Rs 1599, and 12 months subscription with new connection at Rs 2999.
The target entity is a cable television provider with an authorized share capital of Rs 0.2 million, paid-up share capital of Rs 0.2 million, and turnover of Rs 38.16 million as of March 31, 2020.
Hathway’s total income in Q2 FY 21 stood at Rs 460.66 crore, down from Rs 488.22 crore in the previous quarter.
The net profit stood at Rs 36.71 crore, down from Rs 58.32 crore in the preceding quarter.