New Delhi: GTPL Hathway, a leading digital cable TV service provider in India, has reported a strong performance in the first quarter of FY 2024-25, driven by a surge in subscriber base and growing revenue.
The company’s total revenue for Q1 FY25 reached ₹850.6 crore, reflecting a healthy 9% year-on-year (YoY) growth. This positive trend extends to a 4% increase compared to the previous quarter (QoQ).
Cricket Fever Fuels Subscriber Growth
GTPL Hathway attributes a significant portion of its subscriber growth to the excitement surrounding major sporting events like the Indian Premier League (IPL) and the ICC Men’s T20 World Cup. This enthusiasm translated into a 6% YoY increase in active digital cable TV subscribers, reaching a total of 9.6 million by the end of June 30, 2024.
Broadband Segment Shows Steady Growth
In addition to the strong cable TV performance, GTPL Hathway’s broadband segment also witnessed stable growth. The company’s broadband revenue stood at ₹134.8 crore, demonstrating a 4% YoY increase. The average revenue per user (ARPU) for broadband services remained steady at ₹460 per month.
Data Consumption on the Rise
Interestingly, GTPL Hathway users are consuming data at an increasingly rapid pace. The company reported a 13% YoY rise in average monthly data consumption per user, reaching 350 GB. This trend highlights the growing demand for high-speed internet connectivity.
Profitability and Growth Strategy
Despite a 12% QoQ increase in Profit After Tax (PAT) to ₹14.3 crore, GTPL Hathway’s profit margins witnessed a slight dip. However, the company remains optimistic about the future.
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“We are pleased with our consistent performance this quarter,” said Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited. “Our focus on operational efficiency and subscriber growth in the cable TV segment, fueled by major sporting events, has been instrumental in this success.”
Looking ahead, GTPL Hathway plans to leverage the recent price hikes announced by major telecom companies. Jadeja believes this presents a strategic opportunity to position their private wireline broadband offerings as a more attractive alternative for home internet connectivity.
“Our strategy for the upcoming year is to build upon our existing strengths and continue scaling up both cable TV and broadband segments,” Jadeja added. “We will maintain a focus on efficient operations to ensure consistent and reliable service delivery for all our customers, both existing and new.”
With a solid Q1 performance and a clear growth strategy in place, GTPL Hathway appears well-positioned to capitalize on the growing demand for reliable and affordable cable TV and broadband services in India.
