Conference Call with GTPL Hathway Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Broadcasting & Cable TV company GTPL Hathway announced Q4FY24 & FY24 results: Financial Performance Summary: Q4FY24: Digital Cable TV Revenue: Recorded Rs 3,148 million, marking a 14% increase from the Rs 2,753 million reported in Q4FY23. Broadband Revenue: Generated Rs 1,308 million, showing a 5% growth compared to the Rs 1,246 million in Q4FY23. Total Revenue: Amounted to Rs 8,148 million, up by 16% from Rs 7,017 million in Q4FY23. EBITDA: Stood at Rs 1,198 million, reflecting an 8% increase from Rs 1,112 million in Q4FY23. EBITDA Margin: Reported at 14.7%, down from 15.9% in Q4FY23. Operating EBITDA Margin: Remained stable at 23%. Profit After Tax: Amounted to Rs 128 million, compared to a loss of Rs 124 million in Q4FY23. FY24: Digital Cable TV Revenue: Achieved Rs 12,604 million, showing a 15% increase from the Rs 11,005 million reported in FY23. Broadband Revenue: Reached Rs 5,268 million, indicating a 9% growth compared to the Rs 4,826 million in FY23. Total Revenue: Summed up to Rs 32,460 million, up by 20% from Rs 27,140 million in FY23. EBITDA: Amounted to Rs 5,111 million, slightly lower than the Rs 5,163 million recorded in FY23. EBITDA Margin: Reported at 15.7% for FY24, down from 19.0% in FY23. Operating EBITDA Margin: Remained at 24%, a decrease from 26% in FY23. Profit After Tax: Recorded Rs 1,069 million for FY24, slightly lower than the Rs 1,145 million reported in FY23. Operational Performance Summary: Digital Cable TV: The number of active subscribers reached 9.50 million, with a YoY addition of 5,50,000 subscribers. Paying subscribers saw an increase of 6,00,000, reaching 8.80 million. Broadband: Active broadband subscribers grew to 1,020K, a YoY increase of 1,00,000. The homepass, accounting for potential broadband connections, stood at 5.80 million, expanding by 5,00,000 YoY. Moreover, there was a significant 10% annual increase in average data consumption per user, which hit 355GB per month. Average Revenue Per User (ARPU): The Broadband segment observed an ARPU of Rs 460 per month per subscriber for the year. Commenting on the results, Anirudhsinh Jadeja – Managing Director, GTPL Hathway said, “At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India's leading MSO gaining half a million active subscribers in Digital Cable TV and crossing the landmark of one million active subscribers in Broadband. We anticipate sustained growth in the Digital Cable TV sector, encouraged by market shifts favoring larger, organized MSOs like ours. The Broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity. Our long-term strategy involves bundling of all existing verticals along with add-ons of TV Everywhere, Gaming and other services to provide a holistic, comprehensive solution to our customer’s media consumption needs. Our goal is to deeply embed ourselves in our customers' lives, positioning our brand as a service provider that seamlessly combines the best of entertainment and connectivity.” Result PDF