GTPL Hathway posts consolidated Q2 net profit of Rs 19.5 cr

MUMBAI: GTPL Hathway has posted a consolidated net profit (ex EPC contract) of Rs 19.5 crore for the quarter ended 30th September as against Rs 26.6 crore in the trailing quarter ended 30th June.

The EBITDA increased 5% to Rs 115.6 crore compared to Rs 110.3 crore a quarter ago. EBITDA stood at 25.9% as against 28.2%.

Total income (e EPC contract) jumped 14% to Rs 447 crore from Rs 391.1 crore. Subscription revenue was up 6% to Rs 260.8 crore compared to Rs 247.2 crore. Revenue from EPC contract stood at Rs 169.4 crore as against Rs 62 crore.

Broadband revenue was up 1% at Rs 39.8 crore from Rs 39.3 crore. Placement revenue rose 41% to Rs 99.7 crore compared to Rs 70.7 crore.

Total expenditure jumped 18% to Rs 331.4 crore from Rs 280.8 crore. Pay channel cost saw a 10 % increase at Rs 198.2 crore from Rs 180.2 crore. EPC cost of material consumed and sub-contracting cost was Rs 146.2 crore compared to Rs 53.5 crore.

GTPL seeded 200,000 STBs during the second quarter FY20, taking total seeded STBs to 9.90 million. Digital paying subscribers stood at 7.25 million, increased by 150,000.

During Q2 FY20, the company added 260,000 Home Pass. Home Pass stood at 2.92 million. Added 15,000 net broadband subscribers during Q2 and 11,000 FTTX subscribers. Total subscribers were 355,000 of which 75,000 are FTTX subscribers. The Broadband average revenue per user (ARPU) for Q2 FY20 was maintained at Rs 415.

Commenting on the performance, GTPL Hathway MD Anirudhsinhji Jadeja said, “GTPL continued to demonstrate superior business and financial performance in the second quarter of FY20. GTPL’s cutting edge technology allows us to expand our CATV business in other regions without any major CAPEX. Our robust cash flow will not only support our capital expenditure plan that is required but also will help us in reducing our debts.”

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