Gujarat headquartered GTPL Hathway last week announced the financial results for the quarter ending June 30, 2020. GTPL reported a net profit of Rs 464.73 million, up from the net loss of Rs 194.37 million in the preceding quarter owing to exceptional items.
Results at a Glance
- Total income at Rs 5,019.97 million in Q1 FY 21
- Total expenses at Rs 4,444.84 million in Q1 FY 21
- Net profit at Rs 464.73 million in Q1 FY 21
- CATV subscription revenue revenue at Rs 2,653 million, up 7% y-o-y
GTPL’s total income stood at Rs 5,019.97 crores in Q1 FY 21, down from Rs 6,463.67 crores in Q4 FY 20. The total expenses stood at Rs 4,444.84 crores in Q1 FY 21, down from Rs 5,971.01 crores in Q4 FY 20. The net profit stood at Rs 464.73 million, up from the net loss of Rs 194.37 crores in the preceeding quarter.
Cable TV subscription revenue stood at Rs 2,653 million, up by 7% y-o-y. The total seeded STBs at the end of Q1 FY 21 stood at 10.21 million with paying subscribers at 7.2 million. The active subscribers in Q1 FY 21 took a hit for the first time in 12 months with a hit of 0.25 million subscribers. The paying subscribers also came down by 0.3 million subscribers in Q1 FY 21.
Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, “GTPL Hathway delivered another strong quarter. The highlight of the quarter was strong profitability and debt reduction. Our Q1 FY21 consolidated revenue, EBITDA and PAT grew by 10%, 11% and 39%, respectively. During the quarter, we have reduced our gross debt by ₹ 368 million. During the current financial year, we plan to launch a Hybrid box, which will enable us to provide multiservice product that will have Broadband, OTT and Cable service at an attractive price point. Our CATV Business expansion in Maharashtra, Tamil Nadu, Andhra Pradesh and Telengana is on track and it will gain momentum in the coming quarters.”