GTPL Hathway adds 170,000 CATV digital subscribers in 4Q 2018

GTPL Hathway’s Consolidated Q3 FY2019 Revenue at ₹ 3,199 Million, up 13% Y-o-Y

AHMEDABAD, India — GTPL Hathway Limited (GTPL), India’s leading Digital Cable TV and Broadband Service provider, today announced the financial results for the third quarter and nine months ended on December 31, 2018, as approved by its Board of Directors.

Commenting on performance, Anirudhasinhji Jadeja, Managing Director, GTPL Hathway, said, “In an environment of uncertainty, GTPL Hathway has continued to post steady performance. Our first 9 month revenue and PAT are up by 14% and 10% respectively, reflecting inherent strength of the company’s offerings and quality customer service. The new tariff order has put customers at the centre of the business, providing them freedom to make their own choices. As one of India’s leading MSOs, we expect higher monetisation across the phases and better transparency as a direct fall out of the new order.”

Q3 FY 2019 Consolidated Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 3,199 million up by 13% y-o-y
• CATV subscription revenue at ₹ 1,798 million, up 20% y-o-y
• EBITDA at ₹ 833 million; down 1% y-o-y; EBITDA margin as percentage to revenue at 26%
• Profit after tax came in at ₹ 197 million, up 2% y-o-y and up 17% q-o-q

9M FY 2019 Consolidated Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 9,404 million up 14% y-o-y.
• CATV subscription revenue at ₹ 5,249 million, up 23%
• EBITDA at ₹ 2,579 million; up 9% y-o-y; EBITDA margin as percentage to revenue at 27.4%
• Profit after tax came in at ₹ 490 million, up 10% y-o-y

Q3 FY19 Standalone Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 2,080 million up by 6% y-o-y.
• CATV subscription revenue at ₹ 1,171 million up 10% y-o-y.
• EBITDA came in at ₹ 537 million
• Profit after tax came in at ₹ 135 million

9M FY19 Standalone Financial Performance Highlights (as per IND AS)

• Revenue at ₹ 6,123 million up by 10% y-o-y.
• CATV subscription revenue at ₹ 3,439 million up 16% y-o-y.
• EBITDA came in at ₹ 1,682
• Profit after tax at ₹ 331 million

Business Performance Highlights

CATV

• GTPL seeded 300,000 STBs during the third quarter of FY 2019, taking total seeded STBs as on December 31, 2018 to 9.50 million. Added 200,000 Active STB subscribers during the quarter, taking total active STB subscribers as on December 31, 2018 to 8 million. Added 170,000 digital paying subscribers during the quarter to take the total digital paying subscribers as on December 31, 2018 to 7.45 million.
• During Q3 FY19, ARPU remained flat across phases. The average CATV revenue per user (ARPU) as on December 31, 2018 for Phase1, Phase 2, Phase 3 and Phase 4 at ₹ 103, ₹ 102, ₹ 67 and ₹ 60 respectively. Phase wise Seeded Boxes as on December 31, 2018 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 0.86 million, 2.21 million, 2.92 million and 3.51 million respectively

Broadband

• During Q3, the company added 350,000 Home Pass. Home Pass as on December 31, 2018 stood at 2.15 million.
• Added 11,000 broadband subscribers during Q3. Total subscribers as on December 31, 2018 were 315,000 of which 40,000 are FTTX subscribers.
• The Broadband average revenue per user (ARPU) for Q3 FY19 was ₹ 430.
• During the quarter, GTPL was appointed as Project Implementation Agency (PIA) of Package B for implementation of BharatNet Phase – II Project in the state of Gujarat by Gujarat Fibre Grid Network Limited (GFGNL). The INR 1245.77 crore project is on EPC bases and includes Survey, Design, Plan, execution with active/passive (OSP + Electronics) components with commissioning of complete network. GTPL Hathway and Polycab Wires Private Limited, India’s largest wire and cable company, are the consortium partners and will jointly implement this prestigious project.
• Under the project, GTPL will connect 3,767 GPs (Gram Panchayat, Package B, Saurashtra region) by implementing end-to-end Optic Fibre Cable and digital infrastructure at Centralized network operations centre of Gandhinagar in Gujarat. The contract value includes Capex and 3 Years O&M (Operation & Maintenance). The contract also includes further option of an extension of additional 4 Years of O&M mandate at additional value.