GTPL Hathway digital pay TV subscribers up 100,000 in 4Q 2019

Friday, January 10th, 2020 
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GTPL Hathway’s Consolidated 9M FY20 PAT at ₹ 908 Million, up by 92%

9M FY20 EBITDA stood at ₹ 3,779 million; up by 47%

  • Consolidated Q3 FY20 revenue at ₹ 6,875 million; up 115% y-o-y
  • Consolidated Q3 FY20 revenue (ex-EPC) at ₹ 4,499 million; up 41% y-o-y
  • Q3 FY20 subscription revenue at ₹ 2,581 million; up 44% y-o-y
  • Q3 FY20 EBITDA ₹ 1,352 million; up 62% y-o-y; Q3 FY20 EBITDA (ex-EPC) ₹ 1,188 million; up 43% y-o-y
  • Q3 FY20 PAT at ₹ 329 million; up 77% y-o-y
  • Q3 FY20 PAT (Ex EPC) at ₹ 205 million; up 11% y-o-y
  • Seeded 1,50,000 STBs and added 1,00,000 digital paying subscribers during Q3 FY20
  • Added 2,40,000 new home pass; added 20,000 net broadband subscribers and 10,000 FTTX subscribers during Q3 FY20
  • Consumption per customer at 126 GB/month as on December 2019; up from 95 GB/month in December 2018; Data consumption increased 33% 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, 2019, as approved by its Board of Directors.

Commenting on performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, “GTPL continued to deliver strong business and financial performance in third quarter of FY20. During the quarter, we seeded 150,000 STBs and reported a strong 44% increase in CATV subscription revenue. As we had communicated during the last quarter, our strong cash flow generation is helping us not only meet our capex requirement but also helping in reducing the debt. During Q3, we further reduced our debt by ₹ 475 million and, with that, our net debt as on December 31, 2019 stood at ₹ 1,861 million.”

Q3 FY20 Consolidated Financial Performance Highlights (as per IND AS)

  • Revenue at ₹ 6,875 million, up 115% y-o-y
  • Revenue (ex. EPC) at ₹ 4,499 million, up 41% y-o-y
  • CATV subscription revenue at ₹ 2,581 million, up 44% y-o-y
  • Broadband revenue at ₹ 422 million, up 17% y-o-y
  • EBITDA at ₹ 1,352 million; up 62% y-o-y; EBITDA (ex. EPC) at ₹ 1,188 million; up 43% y-o-y; EBITDA margin (ex. EPC) at 26.4%
  • Profit after tax at ₹ 329 million; up 77% y-o-y
  • Profit after tax (ex. EPC) at ₹ 205 million; up 11% y-o-y
  • Q3 FY20 EPC Contract revenue, EBITDA and PAT at ₹ 2,377 million, ₹ 165 Million and ₹ 123 million respectively.

9M FY20 Consolidated Financial Performance Highlights (as per IND AS)

  • Revenue at ₹ 17,582 million, up 87% y-o-y
  • Revenue (ex. EPC) at ₹ 12,879 million, up 37% y-o-y
  • CATV subscription revenue at ₹ 7,661 million, up 46% y-o-y
  • Broadband revenue at ₹ 1,213 million, up 13% y-o-y
  • EBITDA at ₹ 3,779 million; up 47% y-o-y; EBITDA (ex. EPC) at ₹ 3,447 million; up 34% y-o-y; EBITDA margin (ex. EPC) at 26.8%
  • Profit after tax at ₹ 908 million; up 92% y-o-y
  • Profit after tax (ex. EPC) at ₹ 665 million; up 41% y-o-y
  • 9M FY20 EPC Contract revenue, EBITDA and PAT at ₹ 4,691 million, ₹ 332 Million and ₹ 242 million respectively.

Q3 FY20 Standalone Financial Performance Highlights (as per IND AS)

  • Revenue at ₹ 5,574 million, up 168% y-o-y
  • Revenue at (ex. EPC) ₹ 3,197 million; up 54% y-o-y.
  • CATV subscription revenue at ₹ 1,784 million; up 52% y-o-y.
  • EBITDA at ₹ 952 million up 77% y-o-y; EBITDA (ex. EPC) at ₹ 788 million up 47% y-o-y; EBITDA margin (ex. EPC) at 24.6%
  • Profit after tax came in at ₹ 348 million; up 157% y-o-y
  • Profit after tax (ex. EPC) came in at ₹ 225 million; up 66% y-o-y

9M FY20 Standalone Financial Performance Highlights (as per IND AS)

  • Revenue at ₹ 13,456 million; up 120% y-o-y.
  • Revenue at (ex. EPC) ₹ 8,754 million; up 43% y-o-y.
  • CATV subscription revenue at ₹ 5,150 million; up 50% y-o-y.
  • EBITDA at ₹ 2,639 million up 57% y-o-y; EBITDA (ex. EPC) at ₹ 2,307 million up 37% y-o-y; EBITDA margin (ex. EPC) at 26.3%
  • Profit after tax came in at ₹ 846 million; up 155% y-o-y
  • Profit after tax (ex. EPC) came in at ₹ 603 million; up 82% y-o-y

Business Performance Highlights
CATV

  • GTPL seeded 1,50,000 STBs during third quarter FY20, taking total seeded STBs as on December 31, 2019 to 10.05 million.
  • Digital paying subscribers as on December 31, 2019 stood at 7.35 million, increased by 100,000.

Broadband

  • During Q3 FY20, the company added 2,40,000 Home Pass. Home Pass as on December 31, 2019 stood at 3.16 million.
  • Added 20,000 net broadband subscribers during Q3 and 10,000 FTTX subscribers. Total subscribers as on December 31, 2019 were 3,75,000 of which 85,000 are FTTX subscribers.
  • The Broadband average revenue per user (ARPU) for Q3 FY20 was maintained at ₹ 415.

Links: GTPL Hathway