Conference Call with GTPL Hathway Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Broadcasting & Cable TV company GTPL Hathway announced Q2FY24 results: 1. Financial Performance: - GTPL Hathway recorded its highest quarterly revenues from operations in Q2FY24, reaching Rs 7,900 million, marking a 1% QoQ growth and a significant 19% YoY growth. - Digital Cable TV revenue stood at Rs 3,226 million, showing a 2% QoQ growth and a robust 17% YoY growth. - Broadband revenue grew to Rs 1,317 million, reflecting a 10% QoQ growth and an impressive 20.9% YoY growth. - Subscription revenue increased by 8% QoQ and 17% YoY, indicating a strong customer base. 2. Broadband Business: - GTPL Hathway experienced an increase of 120,000 broadband subscribers YoY, with a total of 9,90,000 active subscribers as of September 30, 2023. - Homepass, the potential subscriber base for broadband, reached 5.55 million, allowing for further growth and expansion opportunities. - The average revenue per user (ARPU) for the broadband business remained stable at Rs 460 per month per subscriber, indicating a consistent performance. - The average data consumption per user per month increased by 25% YoY, reaching 310 GB, highlighting the growing demand for high-speed internet services. 3. Digital Cable TV: - The active subscriber base for digital cable TV increased by 3,50,000 QoQ and 8,00,000 YoY, demonstrating strong customer acquisition and retention. - GTPL Hathway expanded its footprint in various states, including Andhra Pradesh, Telangana, Tamil Nadu, North-East, Delhi, Haryana, and Uttarakhand, to enhance its service reach. - Digital cable TV subscription revenue grew by 2% QoQ and a substantial 16% YoY, indicating a continued revenue growth trajectory. - The company onboarded Kartik Aaryan and Rashmika Mandanna as brand ambassadors, bringing renewed energy to the brand. Anirudhsinh Jadeja, Managing Director, said, "GTPL strengthened its leadership position and continued to be the largest MSO and a leading wireline broadband service provider in the country during the quarter. The company is continuously expanding and working towards further strengthening its market leadership across its areas of operation. During the quarter, the company onboarded Kartik Aaryan and Rashmika Mandanna as its new brand ambassadors who bring fresh energy to the brand." Result PDF