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GTPL Hathway hits the roof after strong Q1 result

Capital Market 

GTPL Hathway was locked in 20% upper circuit at Rs 64.80 at 09:19 IST on the BSE after consolidated net profit surged 120.27% to Rs 29.45 crore on 49.72% rise in total income to Rs 454.46 crore in Q1 June 2019 over Q1 June 2018.

The company announced Q1 June 2019 result after market hours yesterday, 10 July 2019.

Meanwhile, the S&P BSE Sensex was up by 151.23 points, or 0.39% to 38,708.27.

On the BSE, 15,000 shares were traded in the counter so far compared with average daily volumes of 4,368 shares in the past two weeks. The stock had hit a high of Rs 64.80 and a low of Rs 59.90 so far during the day. It hit a 52-week high of Rs 107.50 on 17 October 2018 and a 52-week low of Rs 53.15 on 10 July 2019.

On a consolidated basis, GTPL Hathway reported 38% rise in EBITDA to Rs 115.6 crore in Q1 June 2019 over Q1 June 2018.

GTPL Hathway's Managing Director Anirudhasinhji Jadeja said that Q1 June 2019 was the first full quarter with new tariff order (NTO), which has led to significant growth in subscription revenue.

GTPL Hathway is one of India's digital cable TV and broadband service provider.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 11 2019. 09:21 IST