GTPL Hathway zooms 20% on impressive June quarter results

Total income increased by 29 per cent on a year-on-year basis to Rs 454 crore

Shares of GTPL Hathway zoomed 20 per cent to Rs 64.80 in intra-day trade on the BSE on Thursday after the digital cable television and broadband services provider's consolidated net profit more-than-doubled at Rs 29 crore for the quarter ended June 2019 (Q1FY20). It had posted a profit of Rs 13 crore in the year-ago quarter.

Total income increased by 29 per cent on a year-on-year (YoY) basis to Rs 454 crore, with subscription revenue up 47 per cent as compared to the year-ago level. Earnings before interest, depreciation, and ammortisation (Ebitda) jumped 38 per cent YoY to Rs 116 crore in Q1FY20.

The company said it seeded 200,000 set-top boxes and added 300,000 digital paying subscribers during the quarter. It also added 240,000 new home pass and 15,000 net broadband subscribers.

“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 expectation and we see our next three quarters equally exciting," said Anirudhasinhji Jadeja, Managing Director, GTPL Hathway.

At 11:07 AM, the stock was trading 16 per cent higher at Rs 62.80 as compared to a 0.4 per cent rise in the benchmark S&P BSE Sensex.