GTPL Hathway revenue rises 19 per cent as it expands cable TV footprint

MUMBAI: GTPL Hathway is turning up the volume on its cable business, with revenue growing nearly a fifth in the September quarter and two acquisitions strengthening its operating footprint. The company reported a 19.2 per cent year-on-year increase in consolidated revenue from operations to Rs 1,143.06 crore for the quarter ended 30 September 2026, while approving a deal to acquire the remaining 74 per cent stake in subsidiary DL GTPL Cabnet Private Limited.

The revenue growth, from Rs 959.05 crore in the corresponding quarter last year, came as the cable television and broadband operator continued to expand its business. Total income, including other income, rose to Rs 1,146.41 crore from Rs 964.93 crore.

However, higher costs weighed on profitability. Total expenses increased to Rs 1,150.37 crore from Rs 954.40 crore, resulting in a consolidated net loss of Rs 3.55 crore, compared with a net profit of Rs 7.40 crore a year earlier. The loss before tax stood at Rs 3.84 crore, against a profit before tax of Rs 10.78 crore. Earnings per share came in at minus Rs 0.08, compared with Rs 0.82 in the year-ago quarter.

For the six months ended 30 September 2026, GTPL Hathway’s revenue from operations rose to Rs 2,158.46 crore from Rs 1,862.75 crore in the corresponding period last year. Total income increased to Rs 2,166.31 crore from Rs 1,874.06 crore.

The company nevertheless reported a net loss of Rs 2.17 crore for the half year, against a net profit of Rs 14.72 crore in the first half of FY26. For the full financial year 2025–26, it had reported revenue from operations of Rs 3,719.22 crore and a net profit of Rs 12.35 crore.

GTPL Hathway’s board has approved the acquisition of the remaining 74 per cent equity stake in DL GTPL Cabnet, comprising 88,800 shares with a face value of Rs 10 each. The company will pay Rs 937.50 per share, taking the total consideration to Rs 8.33 crore.

The transaction is intended to consolidate business operations and will make DL GTPL Cabnet a wholly owned subsidiary. Completion is expected by 31 October 2026.

All six transferors are related parties of DL GTPL Cabnet, although the company has stated that the transaction will be conducted on an arm’s-length basis. No governmental or regulatory approvals are required, and GTPL Hathway’s promoter, promoter group and group companies have no interest in the transaction.

Incorporated on 14 May 2009, DL GTPL Cabnet distributes cable television channels in India. Its turnover was Rs 63.71 crore in FY26, Rs 69.97 crore in FY25 and Rs 70.59 crore in FY24.

GTPL Hathway also completed the acquisition of the cable television business from entities belonging to the ACT Group during the September quarter. Effective 1 July 2026, the transaction involved consideration of Rs 35.55 crore and is being accounted for as a business combination.

Together, the ACT Group business acquisition and the planned consolidation of DL GTPL Cabnet mark further steps in GTPL Hathway’s efforts to strengthen its cable television operations.

The company continues to contest a Department of Telecommunications demand of Rs 975.42 crore relating to licence fees, including revenue from its cable television business. This comprises a principal demand of Rs 228.65 crore and Rs 746.77 crore in interest, penalties and interest on penalties, as of 31 July 2020.

GTPL Hathway said it believes it has grounds to defend its position, based on its assessment of the legal position and independent legal advice. It has not recognised a provision for the demand and has classified it as a contingent liability. The matter remains subject to legal proceedings, including before the Telecom Disputes Settlement and Appellate Tribunal.

A separate demand of Rs 384.19 crore, including interest and penalties, relates to pure internet services provided by subsidiary GTPL Broadband Private Limited. This has also been classified as a contingent liability, with no provision recognised.

Statutory auditor Deloitte Haskins & Sells conducted a limited review of the results. Its report drew attention to the regulatory matters but did not modify its conclusion on the financial statements.

With revenue growth and further consolidation of its cable business, GTPL Hathway is continuing to build scale across its operations, even as it works through cost pressures and outstanding regulatory disputes.