GTPL Hathway revenue up by 12% in Q1 FY 19-20

GTPL Hathway revenue up by 12% in Q1 FY 19-20

GTPL Hathway total revenue up by 12 ℅ in Q1 FY 19-20. Subscription revenue increases along with pay channel cost.

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GTPL Hathway Limited (GTPL), India’s leading Digital Cable TV and Broadband Service provider, yesterday announced the Q1 FY 19-20 financial results.

The company saw an increase of 12% in its total revenue (₹ 3,911 million), as compared to Q4 FY 18-19. Subscription revenue increased by 19% in the period ending June 30, 2019, as compared to Q4 FY 19-20.

Pay channel costs increased from Rs 1,172 million in Q4 FY 18-19 to Rs 1,801 million in Q 1 FY 19-20. Net profit after tax stood at Rs 332.32 million.

Commenting on the 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 expectations and we see our next three quarters equally exciting. With NTO being stabilized, our focus on taking FTTH to more and more homes, re-launching the industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers, and concurrently launching a 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.

The company seeded 200,000 STBs during the first quarter of FY20, taking total seeded STBs as of June 30, 2019, to 9.70 million. Paying subscribers count as of June 30, 2019, stood at 7.1 million, increased by 300,000 mainly due to reactivation of service by existing subscribers. The active subscriber count stood at 7.5 million.

During Q1 FY20, the company added 240,000 Home Passes. Home Pass as of June 30, 2019, stood at 2.66 million. ~ 50% of the Home pass are available for FTTX connections. The Broadband average revenue per user (ARPU) for Q1 FY20 was ₹ 420.

GTPL Hathway’s stock this morning has been boosted by a strong result. The company’s stocks are currently trading at Rs 64.80 at the time of going to press, up by Rs 10.80 or 20%, as compared to the previous close at Rs 54 on the BSE

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