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A Quick Look At GTPL Hathway’s FY2024 Results: Surpassed ₹3,000 Crore in Revenue

18 April 20243 mins read by Angel One
GTPL Hathway released its financial results for the year ended March 31, 2024, wherein it recorded a growth of 20% in total revenue, coupled with a strong increase in subscribers.
A Quick Look At GTPL Hathway’s FY2024 Results: Surpassed  ₹3,000 Crore in Revenue
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GTPL Hathway Limited, the leading and largest multi-system operator (MSO) in India, released its results for the quarter (Q4 FY2024) and financial year ending March 31, 2024. During the quarter ended March 31, 2024, the company recorded a YoY growth of 16% in revenue to ₹ 8,148 million. In addition, the subscription and broadband revenue for the quarter rose YoY by 14% and 5%, respectively. EBITDA for the quarter amounted to ₹1,198 million, reflecting a rise of 8% on a YoY basis. During FY24, the company’s revenue surpassed ₹3,000 crore and recorded strong subscriber addition in Digital Cable and Broadband businesses.

Particulars (in ₹ million) FY24 FY23 YoY%
Digital Cable TV Revenue 12,604 11,005 15%
Broadband Revenue 5,268 4,826 9%
Total Revenue 32,460 27,140 20%
EBITDA 5,111 5,163 -1%
EBITDA Margin (%) 15.7% 19.0%
Operating EBITDA(%) 24% 26%
Profit AfterTax 1,069 1,145

Segmental Overview

With respect to Digital Cable TV, the company recorded total active subscribers of 9.50 million as of March 31, 2024. Active subscribers increased by 100K QoQ and 550K YoY. The broadband segment witnessed a growth of 100k in subscribers to 1,020K for the year ended March 31, 2024.

“At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India’s leading MSO, gaining half a million active subscribers in Digital Cable TV and crossing the landmark of one million active subscribers in Broadband. We anticipate sustained growth in the Digital Cable TV sector, encouraged by market shifts favouring larger, organised MSOs like ours. The Broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity,” said Mr Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited.

He further added “Our long-term strategy involves bundling of all existing verticals along with add-ons of TV Everywhere, Gaming and other services to provide a holistic, comprehensive solution to our customer’s media consumption needs. Our goal is to deeply embed ourselves in our customers’ lives, positioning our brand as a service provider that seamlessly combines the best of entertainment and connectivity.”

About GTPL Hathway Limited

GTPL Hathway Limited is India’s largest MSO, providing Digital Cable TV services, and is also one of the largest Private Wireline Broadband service providers in India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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