GTPL Hathway share price drops 4% after Q2 profit plunges 63% YoY
Source: Business Standard
GTPL Hathway share price: Broadband service provider GTPL Hathway shares dropped up to 3.59 per cent to hit an intraday low of Rs 159.70 per share on Thursday, October 10, 2024.
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GTPL Hathway’s profit plunged 63 per cent year-on-year (Y-o-Y) to Rs 12.9 crore in the September quarter of FY25, as against Rs 34.4 crore in the September quarter of FY24 (Q2FY24).
The company’s revenue from operations soared a little over 9 per cent higher at Rs 862 crore in Q2FY25, from Rs 790 crore in Q2FY24.
At the operating front, GTPL Hathway’s earnings before interest, tax, depreciation and amortisation (Ebitda) dropped 15.8 per cent annually to Rs 113.8 crore in the September quarter of FY25, from Rs 135.1 crore in the September quarter of FY24. Consequently, Ebitda margin squeezed to 13.2 per cent in Q2FY25, from 17.1 per cent in Q2FY24.
Digital Cable TV
As of September 30, 2024, the company reported a total of 9.50 million active subscribers, reflecting a year-on-year increase of 100,000.
The number of paying subscribers reached 8.80 million, also up by 100,000 from the previous year.
In addition to subscriber growth, the company launched a revamped website (www.gtpl.net) featuring a clean, minimalistic design aimed at enhancing user experience.
Furthermore, the introduction of “GTPL Buzz,” a new customer application, boasts an intuitive design and offers various new features such as TV Everywhere and Cloud Gaming. These updates include new customer direct touchpoints designed to provide a consistent and seamless interaction across multiple platforms and devices.
“In the cable business, our efforts are focused on growing our subscriber base through a mix of organic growth and industry consolidation via acquisitions of existing operators and MSOs. This dual strategy strengthens our market position and builds on our success. We look forward to continue delivering value to our subscribers and stakeholders,” said Anirudhsinh Jadeja, managing director of GTPL Hathway
Broadband
In the broadband sector, subscriber numbers increased by 50,000 year-on-year, bringing the total to 1.04 million.
The homepass figure stood at 5.95 million as of September 30, 2024, with an addition of 400,000 year-on-year. Notably, 75 per cent of the homepass is available for FTTX conversion.
The average revenue per user (ARPU) for broadband subscribers was Rs 460 per month during the quarter, while the average data consumption per user increased to 350 GB, marking a 13 per cent year-on-year rise.
Jadeja further said, “GTPL maintains its stronghold as the largest MSO of India with a commitment to meet all entertainment and connectivity needs of our valued customers, driven by a strong focus on innovation and enhancing the customer experience. In line with this vision, GTPL launched the customer app ‘GTPL Buzz’ and its revamped website (www.gtpl.net) during the quarter. These customer touchpoints have been designed for a consistent user experience and to deliver seamless interaction across platforms and devices.”
At 11:30 AM, shares of GTPL Hathway were trading 2.20 per cent lower at Rs 162 per share. In comparison, BSE Sensex was trading 0.21 per cent higher at 81,640.59 levels.
First Published: Oct 10 2024 | 11:35 AM IST
