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GTPL Hathway gains on reporting turnaround Q4 numbers

16-Apr-24 10:53 Hrs IST

The company?s total revenue jumped 16% to Rs 814.8 crore in Q4 FY24 as compared to Rs 701.7 crore posted in corresponding quarter last year.

Sequentially, the company's net profit dropped 46% from Rs 23.8 crore and total income fell 3% from Rs 324.9 crore in Q3 FY24.

The company reported profit before tax stood at Rs 21.8 crore in Q4 FY24, as compared to Pre-tax loss of Rs 11.1 crore posted in Q4 FY23.

EBITDA increased by 8% to Rs 119.8 crore in the fourth quarter of FY24 as compared with Rs 111.2 crore recorded in Q4 FY23. EBITDA margin fell to 14.7% in Q4 FY24 as compared to 15.9% recorded in the corresponding quarter previous year.

On the segmental front, Cable TV business remained the growth engine, with revenue rising 14% YoY to Rs 314.8 crore. The Internet Service business saw slower growth, clocking in at 5% YoY with revenue of Rs 130.8 crore. Revenue from other operating income grew by 3% YoY to Rs 22.6 crore.

On FY24 basis, the company?s net profit fell 7% to Rs 106.9 crore in FY24 as compared to Rs 114.5 crore recorded in FY23. The company?s total revenue jumped 20% YoY to Rs 3,246 crore recorded in FY24.

The company's board has declared a dividend of Rs 4 per equity share for the financial year 2023-24.

Anirudhsinh Jadeja, managing director, GTPL Hathway said, ?At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India's leading MSO gaining half a million active subscribers in Digital Cable TV and crossing the landmark of one million active subscribers in Broadband. We anticipate sustained growth in the Digital Cable TV sector, encouraged by market shifts favoring larger, organized MSOs like ours. The Broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity.

Our long-term strategy involves bundling of all existing verticals along with add-ons of TV Everywhere, Gaming and other services to provide a holistic, comprehensive solution to our customer?s media consumption needs. Our goal is to deeply embed ourselves in our customers' lives, positioning our brand as a service provider that seamlessly combines the best of entertainment and connectivity.?

GTPL Hathway is a multi-system operator (MSO), providing digital cable TV services. The company is the sixth largest private wireline broadband service provider in India.