GTPL Hathway slides as Q3 PAT declines 31% YoY to Rs 37 cr

GTPL Hathway slipped 4.16% to Rs 132.35 after the company's consolidated net profit decreased 31.3% to Rs 37.57 crore in Q3 FY23 as against Rs 54.65 crore in Q3 FY22.

Revenue from operations rose 14.44% YoY to Rs 685.63 crore in the quarter ended 31 December 2022.

Profit before tax declined 31% to Rs 53.94 crore in Q3 FY23 as compared to 78.17 crore in Q3 FY22.

Total expense rose 21.93% year on year to Rs 651.80 crore during the quarter. Pay channel costs stood at Rs 370.86 crore (up 22.81% YoY), employee benefit expense stood at Rs 37.92 crore (up 24.18% YoY), while finance cost was at Rs 2.46 crore (down 53.66% YoY).

EBITDA stood at Rs 131.4 crore in Q3 FY23 as compared to Rs 147.2 crore in Q3 FY22 while EBITDA margin was 18.6% in Q3 FY23 as against 24.1% in Q3 FY22.

Segment revenue from cable TV stood at Rs 548.13 crore (up 15.63% YoY), Internet service stood at Rs 124.34 crore (up 17.95% YoY).

As on 31 December 2022, the company's total active broadband subscribers stood at 8,95,000 and homepass was at 5.15 million. Average revenue per user (ARPU) for broadband business was at Rs 455 increase of Rs 10 on a YoY basis.

Anirudhsinh Jadeja, promoter & managing director said, We continue to be the largest MSO in India and are strengthening our pan-India presence. Our broadband business also continues to grow as expected, and we are committed to deliver the desired results by the end of the current financial year.

Further he added, To strengthen our customer offerings, we have launched 'GTPL Genie+', which offer subscriptions of OTT applications in convenient packs and tenures. GTPL Genie+ is a B2C product that can be bought by our cable TV or broadband customers directly.

GTPL Hathway is India's largest multi-system operator (MSO) providing digital cable tv services and is the 6th largest private wireline broadband service provider in India.

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