DTH
Videocon d2h with $1.15 bn market cap set to become most valued Indian co. on NASDAQ
MUMBAI: Videocon d2h has closed the IPO process and is getting listed on NASDAQ, issuing American Depositary Receipt (ADR) worth $325 million to the public with current market cap of $1.15 billion.
Videocon d2h IPO has created several milestones by becoming the first Indian private company since the year 2000 to list overseas, largest Indian IPO in US since 2007 and first sizeable Indian listing on US exchanges since 2010, clearly indicating the renewed global focus on India. The IPO has caught the attention of Top US funds with several multi billion dollar funds investing into the IPO.
At expected market cap of $1.15 billion, Videocon d2h will become the most valued Indian company on Nasdaq.
Videocon d2h managing director Saurabh Dhoot said, “Our listing on the NASDAQ Stock Exchange is a major corporate milestone for the entire Indian media industry not just Videocon d2h and a testament to the tremendous progress we have made under the Digital India vision of our Hon’ble Prime Minister. This is the success of thousands of Videocon d2h employees working tirelessly and our customers who believed in our brand, product and services. We have just begun.”
Videocon d2h has launched many firsts in the Indian DTH industry like the first to launch the 4K Ultra HD Channel, 1000 GB High Definition Digital Video Recorder, Radio Frequency Remote for DTH, Wireless DTH Headphones, 500 channels and services.
DTH
GTPL Hathway posts FY26 revenue growth, Q4 slips into loss
Annual profit at Rs 5.88 crore; Q4 loss at Rs 5.90 crore
MUMBAI: A strong year met a shaky finish as GTPL Hathway closed FY26 on a high note only to stumble at the final hurdle. The company’s latest financials reveal a tale of two timelines: steady annual growth alongside a fourth-quarter dip that nudged it into the red. GTPL Hathway Limited reported total income of Rs 2,472.46 crore for the year ended March 31, 2026, marking a clear rise from Rs 2,223.00 crore in FY25. Revenue from operations stood at Rs 2,450.78 crore, up from Rs 2,193.38 crore a year ago, signalling consistent traction in its core cable TV and broadband business.
Yet, beneath the annual growth narrative, the March quarter told a different story. The company posted a net loss of Rs 5.90 crore in Q4 FY26, a sharp reversal from a profit of Rs 0.91 crore in the preceding quarter and Rs 8.15 crore in the same period last year. Total income for the quarter came in at Rs 618.46 crore, largely flat sequentially but higher than Rs 569.33 crore reported a year earlier.
The pressure was visible across the cost structure. Total expenses for the quarter rose to Rs 620.64 crore, marginally exceeding income and tipping the company into a loss before tax of Rs 7.87 crore. This compares with a profit before tax of Rs 1.22 crore in the December quarter and Rs 11.32 crore in Q4 FY25.
For the full year, however, profitability held firm. GTPL reported a net profit of Rs 5.88 crore in FY26, significantly lower than Rs 47.80 crore in FY25, but still in positive territory despite higher finance costs and operating expenses. Operating expenses alone climbed to Rs 1,884.53 crore for the year, up from Rs 1,603.53 crore, reflecting the increasing cost of running and scaling network infrastructure.
Finance costs also rose notably to Rs 33.57 crore in FY26 from Rs 22.19 crore in FY25, while depreciation and amortisation expenses stood at Rs 189.19 crore, underlining continued investments in assets and technology. Employee benefit expenses, however, declined to Rs 63.42 crore from Rs 77.08 crore, offering some relief on the cost front.
An exceptional item of Rs 5.69 crore during the year also weighed on profitability, compared with Rs 3.79 crore in the previous year. Meanwhile, tax adjustments, including deferred tax movements and prior-year adjustments, played a role in shaping the final earnings outcome.
Despite the quarterly wobble, the broader picture suggests a company still expanding its top line while grappling with margin pressures. With paid-up equity share capital unchanged at Rs 112.46 crore, the focus now shifts to whether GTPL can convert its revenue momentum into more stable, sustainable profitability in the coming quarters.
In short, FY26 may have delivered growth on paper but the closing chapter serves as a reminder that in business, as in broadband, consistency is everything.
