GTPL Hathway surges 11% post December quarter results

GTPL's total income in Q3 increased 115 per cent YoY to Rs 687.5 crore, with CATV subscription revenue at Rs 258.1 crore (up 44% YoY)

Shares of GTPL Hathway zoomed 11 per cent to Rs 90 on the BSE on Friday after the digital cable television and broadband services provider posted a 77 per cent year-on-year (YoY) growth in consoldiated net profit at Rs 32.9 crore in December quarter. It had posted a profit of Rs 19.7 crore in the year-ago quarter. Excluding EPC (engineering, procurement & construction) consoldiated net profit grew 11 per cent to Rs 20.5 crore on YoY basis.

GTPL's total income in Q3 increased 115 per cent YoY to Rs. 687.5 crore, with CATV (cable TV) subscription revenue at Rs 258.1 crore (up 44% YoY) and broadband revenue at Rs 42.2 crore (up 17 per cent YoY). Earnings before interest, depreciation, and amortisation (Ebitda) surged 62 per cent from the year-ago level to Rs 135.2 crore in Q3FY20.

The company said it seeded 1.5 lakh set-top boxes (STBs) during the third quarter, taking total seeded STBs as on December 31, 2019 to 1.05 crore. It also added 1 lakh digital paying subscribers, taking the total number of such subscribers to 73.5 lakh.

In broadband, GTPL added 2.4 lakh Home Passes which now stand at a total of 31.6 lakh. It also added 20,000 net broadband subscribers and 10,000 FTTX subscribers during the quarter and 10,000 FTTX subscribers. The Broadband average revenue per user (ARPU) for Q3 FY20 was maintained at Rs 415.

“GTPL continued to deliver strong business and financial performance in third quarter of FY20... Our strong cash flow generation is helping us not only meet our capex requirement but also helping in reducing the debt. During Q3, we further reduced our debt by Rs 47.5 crore and, with that, our net debt as on December 31, 2019 stood at Rs 186.1 crore,”  said Anirudhasinhji Jadeja, Managing Director, GTPL Hathway.

At 10:03 AM, the stock was trading 5.05 per cent higher at Rs 85.25 as compared to a 0.37 per cent rise in the benchmark S&P BSE Sensex.