GTPL Hathway reports strong subscriber addition across Digital Cable TV and Broadband businesses; FY23 Revenue growth of 12 per cent Y-o-Y
Apr 17, 2023
Ahmedabad (Gujarat) [India], April 17 (ANI/PRNewswire): GTPL Hathway Limited, India's largest Digital Cable TV Service Provider and a leading Broadband Service provider, announced its Financial Results for the Quarter & Financial year ending March 31, 2023.
Business Performance Highlights
- Modified brand identity in Q3 to encompass 'Entertain' and 'Connect' in order to communicate the wide range of products and services offered by the Company including entertainment in the form of Digital Cable TV & OTT and connectivity in the form of high-speed broadband, as well as new products and services to be launched soon.
- Launched 'GTPL Genie+' in Q3, a B2C OTT Apps aggregation product, offering subscriptions of OTT applications in convenient pocket-friendly packs available to all existing customers of GTPL (Digital Cable TV and Broadband). Packs are available in 1 month, 3 months, 6 months, and annual subscriptions with unique 100% guaranteed cashback offer
Digital Cable TV
- Active subscribers increased by 550K Y-o-Y; Paying subscribers by 400K Y-o-Y
- Subscription revenue increased by 2% annually
- Expanded footprint in Delhi, Haryana, and Uttarakhand
Broadband
- Increase in broadband subscribers of 104K, an increase of 11% Y-o-Y
- Homepass as on March 31, 2023 stood at 5.30 million, an addition of 600k in FY23; 75% of Homepass available for FTTX conversion
- The Broadband average revenue per user (ARPU) stood at Rs 460 per month per subscriber
- Average data consumption per user per month at 321 GB, 25% increase Y-o-Y
Commenting on the Results, Anirudhsinh Jadeja, Managing Director GTPL Hathway Limited said, "I am glad to report yet another year of consistent growth in our broadband and Digital Cable TV business. GTPL continues to be the largest MSO in the country, as well as in Gujarat and the largest Broadband player in Gujarat. The Company has further strengthened its presence across all other markets, especially in the southern states. We continue to expand our presence in the Digital Cable TV market and have entered the states of New Delhi, Haryana & Uttarakhand. The initial response has been encouraging and we will endeavor to cement our position in these markets.
Our Broadband business continues to show healthy growth, both in terms of subscribers and ARPU. Our focus and commitment to expand the Broadband business is expected to achieve the desired results in the coming years.
The Company's Board has recommended a dividend of Rs 4 per share for FY23.
We continue to remain focused on the ever-evolving customer demands and to provide them with unique products and services."
GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is the 6th largest Private Wireline Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. The Company's Digital Cable TV services reach 1,400 plus towns across India in 22 states including Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Madhya Pradesh, Jharkhand, Rajasthan, Odisha, Assam, Tripura, Meghalaya, Manipur, Nagaland, Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Delhi, Haryana and Uttarakhand. As on March 31, 2023, the Company has approximately 8.95 Million Active Digital Cable TV Subscribers and 9,20,000 Broadband Subscribers and a Broadband homepass of about 5.30 million.
Safe Harbor Statement
Any forward looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of These statements are subject to risks and uncertainties Actual results might differ substantially or materially from those expressed or implied Important developments that could affect the Company's operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs The Company does not undertake any obligation to update forward looking statements to reflect events or circumstances after the date thereof.
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