Cable TV
GTPL revenue up as subs base, ARPU increase in fiscal 2018
BENGALURU: As mentioned by us earlier, Indian multi-system operator and internet service provider GTPL Hathway Ltd’s(GTPL) consolidated total revenue for FY 2018 (fiscal 2018, yearunder review, year ended 31 March 2018) had increased 18.2 percent as compared to the previous year (FY 2017). The company’s investor presentation for FY 2018 says that its active cable TV subscriber base in fiscal 2018 increased 1.42 million (0.142 crore) in the year under review to 7.4 million (0.74 crore) from 5.98 million (0.598 crore) in the previous year. The company says that it seeded 1.8 million (0.18 crore) digital set top boxes in the FY 2018. In FY 2018, GTPL’s cable TV digital paying subscriber base increased by 2.07 million (0.207 crore) to 7.0 million (0.7 crore).
Average revenue per user (ARPU) in phase II, phase III and phase IV by 6.25 percent, 1.64 percent and 1.96 percent respectively during the quarter ended 31 March 2018 Q4 2018 as compared to the quarter ended 31 December 2017 (Q3 2017). Phase-wise ARPU increased in FY 2018 as compared to FY 2017 as follows: phase I increased to Rs 103 from Rs 100; phase II increased from Rs 95 to Rs 105; phase III increased from Rs 54 to Rs 62; phase IV increased from Rs 41 to Rs 52.
Over 38 percent of the company’s subscriber base in phase IV areas, which for GTPL has seen the highest increase in ARPU during FY 2018, both in terms of absolute rupees and in terms of percentage growth. Arising from the above, share of GTPL’s cable TV business to revenues and profits has gone up.
Please refer to the figure below
Further, the company says that it has added 40,000 broadband internet subscribers in fiscal 2018, taking its broadband subscriber base to 0.28 million (0.028 crore). The company’s broadband ARPU remained the same in FY 2018and FY 2017 at Rs 480. Hence broadband revenue will have increased to an extent on account of the increased broadband subscriber base in fiscal 2018. The company has revealed that data consumption per user has increased from 38GB per month in March 2017 to 62 GB per month in March 2018.
The company’s consolidated total income increased 18.2 percent during the year under review to Rs 1,113.35 crore from Rs 941.83 crore in the previous year. GTPL’s consolidated operating revenue for fiscal 2018 at Rs 1,091.27 crore was 20.2 percent higher than the Rs 907.70 crore for FY 2017. Other income reduced 35.3 percent in FY 2018 to Rs 22.09 crore from Rs 34.13 crore in FY 2017.
Please refer to the figures below the company’s total revenue breakup in FY 2018 and FY 2017:
Consolidated operating profit (EBIDTA) excluding other income increased 29.6 percent in FY 2018 to Rs 383.12 crore (35.1 percent of operating or op revenue) from Rs 295.71 crore (32.6 percent of op revenue) in the previous fiscal. Consolidated EBIDTA including other income increased 30.7 percent to Rs 314.43 crore (28.2 percent of total revenue) in FY 2018 from Rs 240.56 crore (25.5 percent of total revenue) in the previous year.
However, the company’s profit numbers still depend upon placement and activation revenue. It is heartening to note that the shares of placement and activation revenue to total revenue in FY 2018 as compared to FY 2017 have gone down as is obvious from the above figures. If one were to calculate EBIDTA without placement and activation revenue, the company has incurred a lower operating loss of about Rs 35 crore in FY 2018 as compared to an operating loss of about Rs 72 crore in the previous year.
The board of directors of GTPL has mooted dividend of Re 1 or 10 percent per equity share of face Rs 10 each subject to approval from shareholders for the year ended FY 2018. The outstanding capital of GTPL as on 31 March 2018 was Rs 112.463 crore.
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.
