GTPL Hathway digital cable TV active subscribers up 7% Y-o-Y

Saturday, April 15th, 2023 
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GTPL Hathway reports strong subscriber addition across Digital Cable TV and Broadband businesses; FY23 Revenue growth of 12% Y-o-Y

  • Digital Cable TV subscribers grew by 550K Y-o-Y to reach 8.95 Mn; Increased footprint in 3 new states – Delhi, Haryana, and Uttarakhand
  • Total active subscribers for Broadband stood at 920K, a growth of 104K Y-o-Y; Homepass stood at 5.30 million
  • FY23 Revenue stood at ₹ 27,140 million – a growth of 12% annually; Broadband Revenue increased by 18% annually
  • FY23 PAT stood at ₹ 1,145 million
  • Broadband ARPU at ₹ 460/- increased by ₹ 10 annually
  • For FY23, the Board has recommended a dividend of 40%
  • Launched “GTPL Genie+”, an OTT Apps aggregation product, which offers subscriptions to a wide choice of OTT applications in convenient packs

AHMEDABAD — 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.

Key Consolidated Business & Financial Highlights: FY23

Growth in Total Revenue              ₹ 2,986 million  +12% Y-o-Y
Growth in Broadband Revenue            ₹ 751 million  +18% Y-o-Y 
Growth in Subscription Revenue         ₹ 252 million   +2% Y-o-Y 
Digital Cable TV Active Subscribers     8.95 million   +7% Y-o-Y
Broadband Active Subscribers                   920 K  +11% Y-o-Y
Particulars (₹ in million)  Q4 FY23  Q4 FY22  Y-o-Y    FY23    FY22  Annual
--------------------------  -------  -------  -----  ------  ------  ------
Digital Cable TV Revenue      2,753    2,695     2%  11,005  10,753      2%
Broadband Revenue             1,246    1,098    14%   4,826   4,075     18%
TOTAL Revenue                 7,017    6,209    13%  27,140  24,154     12%
EBITDA                        1,112    1,400          5,163   5,677
EBITDA Margin (%)             15.9%    22.5%          19.0%   23.5%
Profit After Tax               -124      552          1,145   2,006

All figures are Ex- EPC

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


  • 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 ₹ 460 per month per subscriber
  • Average data consumption per user per month at 321 GB, 25% increase Y-o-Y

Commenting on the Results, Mr. 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 ₹ 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.”

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