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GTPL reports higher numbers for second quarter

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BENGALURU: Indian multi system operator (MSO) and broadband internet services (broadband) provider GTPL Hathway Limited (GTPL) has reported a year-over-year (y-o-y) growth in standalone as well subsidiary companies’ operating profits and net profits for the quarter ended 30 September 2017 (Q2-18, current quarter). GTPL’s broadband internet business – GTPL Broadband is a 100 percent subsidiary of GTPL. The company owns a 51 percent stake in GTPL Kolkata Cable & Broadband Pariseva Limited (KCBPL).

GTPL standalone

On a standalone basis, GTPL reported 23.9 percent y-o-y growth in revenue for Q2-18 at Rs 1,838.16 million from Rs 1,480.60 million. EBIDTA including other income in the current quarter was 19.7 percent higher y-o-y at Rs 585.13 million (31.9 percent margin) as compared to Rs 488.66 million (33 percent margin). Net profit after tax increased 53 percent y-o-y in Q2-18 to Rs 117.68 million (6.4 percent margin) from Rs 76.93 million (5.2 percent margin).

The company reported 32.6 percent y-o-y growth in subscription revenue for Q2-18 at Rs 1,001 million from Rs 755 million. Placement revenue increased 10.7 percent y-o-y in the current quarter at Rs 588 million from Rs 531 million. Activation revenue declined 7.8 percent y-o-y in Q2-18 to Rs 47 million from Rs 51 million.

GTPL says that it has seeded 0.52 million set top boxes and increased CATV digital active subscribers by 0.37 million in the current quarter. It says that CATV digital paying subscribers increased by 0.94 million to 6.94 million in Q2-18 as compared to 5.70 million subscribers in the immediate trailing quarter Q1-18.

The phase-wise breakup of GTPL’s digital paying subscribers is 0.56 million, 1.66 million, 2.02 million and 2.40 million for DAS phases I, II, III and IV respectively. ARPU in Q2-18 with respect to Q1-18 has increased by Re 1 each to Rs 101 and Rs 96 in phases I and II respectively; has increased by Rs 4 and Rs 8 in phases III and IV respectively.

GTPL Broadband

The company says that GTPL Broadband’s total income in Q2-18 increased 13 percent y-o-y to Rs 331 million from Rs 292 million. EBIDTA grew 15 percent y-o-y to Rs 92 million from Rs 80 million. PAT increased 2 percent y-o-y to Rs 39 million in the current quarter from Rs 38 million.

The company claims that GTPL Broadband has added 10,000 broadband internet subscribers in Q2-18 as compared to Q1-18.Its broadband internet subscriber base at the end of Q2-18 was 0.26 million. Broadband internet ARPU has increased in the current quarter to Rs 487 as compared to Rs 486 in Q1-18 and 465 in Q2-17.

GTPL Kolkata Cable & Broadband Pariseva Limited (KCBPL)

KCBPL’s total income grew 45 percent y-o-y to Rs 398 million from Rs 274 million. Subscription CATV revenue increased 48 percent y-o-y to Rs 256 million in Q2-18 from Rs 176 million. Placement revenue in the current quarter grew 6 percent y-o-y to Rs 80 million from Rs 76 million. Activation revenue in Q2-18 more than quintupled y-o-y to Rs 56 million from Rs 11 million.

KCBPL’s EBIDTA more than tripled y-o-y in Q2-18 to Rs 119 million from Rs 37 million. The company reported PAT of Rs 2 million in Q2-18as compared to a loss of Rs 23 million in Q2-17.

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