GTPL Hathway's Consolidated FY2018 PAT Grows 53% to INR 614 Million

/ -- Key Highlights

Consolidated FY18 revenue up 18% FY18 CATV subscription revenue up 29% FY18 broadband revenue up 11% Finance cost during FY18 down by 32% Consolidated FY18 PAT up by 53% West Bengal operations turn around; reports INR 12 million PAT GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the fourth quarter and year ended on March 31, 2018 as approved by its Board of Directors.

(Logo: http://mma.prnewswire.com/media/598543/GTPL_Hathway_Logo.jpg ) The Board has recommended a final dividend of INR 1 (10%) per equity share of face value Rs. 10 for the year ended 31st March 2018 subject to shareholder's approval at the ensuing AGM.

 

Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway, said, "At GTPL, our single-minded focus is profitable operations with superior customer service. During the year while we continued to grow our business in terms of maintaining our leadership position in our key markets and increasing presence in other geographies, we brought in efficiencies at many levels. We managed to bring down the finance cost by 32%; turned around our West Bengal cable operations and significantly brought down operating costs, specifically in our broadband business which resulted in improved operating margins."

"GTPL's commitment to provide superior customer experience, investment in the latest technology, transparency in business operations and in its dealings with 20,000 plus LCO partners and focus on profitability has worked well for the company. As a result of this, revenue and profits have been growing at a CAGR of 15% and 49% respectively for the past three years. Our focus for the coming year will be to launch affordable, unlimited data plan for high-speed broadband even as we grow our CATV business in select geographies," added Mr. Jadeja.

Consolidated Financial Performance Highlights (as per IND AS)

FY18 revenue at INR 11.13 billion up by 18%. FY18 EBITDA at INR 3,144 million; up 31%; EBITDA margin as percentage to revenue at 28.2%; an improvement of 270 basis points over FY17. FY18 Profit after tax at INR 614 million, up by 53%. Finance cost for FY18 at 393 million is down by 32%. Net debt as on March 31, 2018 at INR 1963 million as against FY17 net debt of INR 4437 million. Standalone Financial Performance Highlights (as per IND AS)

GTPL Hathway Limited

FY18 revenue at INR 7557 million up by 18%. FY18 CATV subscription revenue at INR 4020 million up 26%. FY18 EBITDA at INR 2345 million; up 17%; EBITDA margin as percentage to revenue was 31%. FY18 Profit after tax at INR 588 million, up by 48%. GTPL Broadband Private Limited - 100% subsidiary of GTPL providing broadband services

FY18 revenue at INR 1337 million, up by 11%. FY18 EBITDA at INR 393 million; up 25%; FY18 EBITDA margin as percentage to revenue at 29.4%, an increase of 330 basis point. FY18 Profit after tax at INR 171 million, up by 13%. GTPL Kolkata Cable & Broadband Pariseva Limited (KCBPL) - 51% subsidiary of GTPL operating in West Bengal

FY18 revenue at INR 1581, up by 37%. FY18 CATV subscription revenue at INR 1091 million, up 52%. FY18 EBITDA at INR 415 million; up 113%; FY18 EBITDA margin as percentage to revenue at 26.2%, up by 930 basis points. FY18 Profit after tax at INR 12 million against a loss of INR 58 million during FY17. Business Performance Highlights

CATV

GTPL seeded 240,000 STBs during the quarter and 1.8 million STBs during FY18 to taking total seeded STBs as on March 31, 2018 to 8.7 million. Added 200,000 Active digital subscribers during the quarter, and 1.42 million during FY18; taking total active digital subscriber as on March 31, 2018 to 7.4 million. Added 250,000 digital paying subscribers during the quarter and 2.07 million subscribers during FY18 to take the total digital paying subscribers as on March 31, 2018 to 7 million. During FY18, Phase 1, Phase 2, Phase 3 and Phase 4 ARPU increased by 3%, 7.37%, 14.81% and 26.82% respectively.