Cable TV
GTPL Hathway consolidated Q1 FY20 PAT at Rs 294 mn, up 121 per cent y-o-y
MUMBAI: GTPL Hathway Ltd (GTPL), India’s leading digital cable TV and broadband service provider, today announced the financial results for the first quarter of financial year 2019–20, as approved by its board of directors.
Commenting on performance, GTPL Hathway MD Anirudhasinhji Jadeja said, “Q1FY20 was the first full quarter with new tariff order (NTO), which has led to significant growth in subscription revenue. Subscription revenue grew by 47 per cent on a y-o-y basis. Overall, our first quarter performance was in line with our expectation and we see our next three quarters equally exciting. With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage. We will further increase the pace of growth momentum towards CATV and Broadband business in FY 2019 – 20.“
Q1 FY20 Consolidated Financial Performance Highlights (as per IND AS)
• Revenue (ex. EPC) at Rs 3,911 million, up 29 per cent y-o-y
• CATV subscription revenue at Rs 2,472 million, up 47 per cent y-o-y
• Broadband revenue at Rs 393 million, up 9 per cent y-o-y
• EBITDA (ex. EPC) at Rs 1,103 million; up 32 per cent y-o-y; EBITDA margin (ex. EPC) at 28.2 per cent up by 60 bps
• Profit after tax (ex. EPC) at Rs 266 million; up 100 per cent y-o-y
• Q1 FY20 EPC Contract revenue, EBITDA and PAT at Rs 632 million, Rs 52 Million and Rs 29 million
respectively.
Q1 FY20 Standalone Financial Performance Highlights (as per IND AS)
• Revenue at (ex. EPC) Rs 2,538 million; up 27 per cent y-o-y.
• CATV subscription revenue at Rs 1,631 million; up 45 per cent y-o-y.
• EBITDA (ex. EPC) at Rs 745 million up 31 per cent y-o-y; EBITDA margin (ex. EPC) at 29.4 per cent up by 90 bps
• Profit after tax (ex. EPC) came in at Rs 223 million; up 135 per cent y-o-y
Business Performance Highlights
CATV
• GTPL seeded 200,000 STBs during first quarter FY20, taking total seeded STBs as on June 30, 2019
to 9.70 million. Digital paying subscribers as on June 30, 2019 stood at 7.1 million, increased by
300,000 mainly due to reactivation of service by existing subscribers.
• Phase wise Seeded Boxes as on June 30, 2019 for Phase 1, Phase 2, Phase 3 and Phase 4 were at
0.86 million, 2.26 million, 3.00 million and 3.58 million respectively.
Broadband
• During Q1 FY20, the company added 240,000 Home Pass. Home Pass as on June 30, 2019 stood
at 2.66 million. ~50 per cent of Home pass are available for FTTX connections.
• Added 15,000 net broadband subscribers during Q1 and 10,000 FTTX subscribers (67 per cent of net
addition). Total subscribers as on June 30, 2019 were 340,000 of which 64,000 are FTTX
subscribers.
• The Broadband average revenue per user (ARPU) for Q1 FY20 was Rs 420.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
