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GTPL Hathway, a prominent player in the cable TV and broadband industry, has reported robust financial performance for the fiscal year 2024, crossing the milestone of ₹3,000 crores in revenue.
The company’s fourth-quarter revenue stood at ₹8,148 million, marking a significant 16 percent year-on-year growth. Notably, subscription revenue saw a commendable increase of 14 percent year-on-year, while broadband revenue grew by 5 percent.
According to a press release, the full fiscal year, GTPL Hathway achieved a remarkable revenue of ₹32,460 million, representing a notable 20 percent year-on-year growth. Subscription revenue witnessed a healthy uptick of 15 percent year-on-year, and broadband revenue saw a commendable growth of 9 percent. The company’s EBITDA for the quarter reached ₹1,198 million, showcasing an 8 percent year-on-year increase, with an EBITDA margin of 14.7 percent. For the entire fiscal year, EBITDA stood at ₹5,111 million, with an EBITDA margin of 15.7 percent.
In terms of profitability, GTPL Hathway reported a Profit After Tax of ₹128 million for the fourth quarter of FY24 and ₹1,069 million for the full fiscal year.
The company’s performance highlights include significant growth in its Digital Cable TV and Broadband businesses. In the Digital Cable TV segment, active subscribers reached 9.50 million as of March 31, 2024, with a quarter-on-quarter increase of 100K and a year-on-year increase of 550K. Paying subscribers stood at 8.80 million, marking a notable year-on-year increase of 600K. Subscription revenue in this segment increased by 14% year-on-year, reaching ₹3,148 million for Q4 FY24.
In the Broadband segment, GTPL Hathway witnessed an increase in subscribers by 15K quarter-on-quarter and 100K year-on-year, reaching a total of 1,020K subscribers. Homepass, as of March 31, 2024, stood at 5.80 million, with an addition of 500K year-on-year. The Broadband average revenue per user (ARPU) stood at ₹460 per month per subscriber for the year, while the average data consumption per user per month increased by 10% year-on-year to 355GB.
Commenting on the results, Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited, expressed satisfaction with the company’s achievements, emphasizing its strengthened position as India’s leading MSO (Multiple System Operator). He highlighted the anticipation of sustained growth in the Digital Cable TV sector and the promising outlook for further expansion in the Broadband segment. Mr. Jadeja outlined the company’s long-term strategy, which includes bundling various verticals and services to cater to the evolving needs of consumers, aiming to provide a comprehensive solution for media consumption.
GTPL Hathway’s performance underscores its commitment to delivering quality services and its strategic vision for future growth in the dynamic media and connectivity landscape.
Heartfelt Congratulations…. It’s a great achievement for the entire Team, either its a sales, Marketing, Finance, strategy or Backend Team. A good team and business Partners make a Fruitful organisation.