GTPL Hathway soars ~5% after Q1 PAT rises 39%

Despite Covid-19 challenges during the quarter, the company reduced our gross debt by Rs368mn.

Jul 16, 2020 09:07 IST India Infoline News Service

Hathway Cable
GTPL Hathway Limited (GTPL) announced the financial results for the first quarter of Financial Year 2020-21 on Wednesday. Digital Cable TV and Broadband Service provider company reported a 39% increase in profit after tax at Rs409mn for Q1FY21.

The consolidated Q1FY21 revenue stood at Rs5,020mn, up 10% yoy despite Covid-19 challenges and consolidated Q1FY21 revenue (ex-EPC) at Rs4,717mn, up 20% yoy.

The company’s Q1FY21 subscription revenue increased 7% to Rs2,653mn yoy. EBITDA stood at Rs1,287mn; up 11% yoy; Q1FY21 EBITDA (ex-EPC) Rs1,261mn; up 14% yoy.

GTPL Hathway Ltd is currently trading at Rs77.40 up by Rs3.65 or 4.95% from its previous closing of Rs73.75 on the BSE.

As on Q1FY21, Seeded STBs stood at 10.21 million and Paying Subscribers stood at 7.20 million. It added 1,80,000 new home-pass in Q1FY21 (2,40,000 new home-pass during Q1 FY20) and 50,000 net broadband subscribers; a sharp growth of 2x in subscriber addition during the quarter; including 20,000 FTTX subscribers.

Consumption per customer at 162 GB/month as on June 2020; up from 120 GB/month in June 2019; Data consumption increased 35% yoy.
“GTPL Hathway delivered another strong quarter. The highlight of the quarter was strong profitability and debt reduction. Our Q1FY21 consolidated revenue, EBITDA and PAT grew by 10%, 11% and 39%, respectively. During the quarter, we have reduced our gross debt by Rs368mn.

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.” Anirudhsinh Jadeja, Managing Director, GTPL Hathway said.

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