GTPL Hathway Ltd.

NSE: GTPL | BSE: 540602 | ISIN: INE869I01013 |Industry: Other Telecom Services
|Strong Performer
119.05 -0.30 (-0.25%)
NSE Oct 22, 2020 15:31 PM
Volume: 188.8K

GTPL Hathway Ltd.    
13 Aug 2018
JM Financial
GTPL reported consolidated quarterly financials for the first time since listing. 1QFY19 topline growth of 15.4% yoy was led by video subscription revenue [VSR: +30% yoy], while broadband growth was muted [+3.2%]. 1Q EBITDA growth of c.19% was on the lower side versus full-year expectations, because of muted activation revenues [-3%] and higher growth in content cost [+18%]. Nonetheless, growth in adjusted EBITDA (i.e. ex-activation) was fairly robust at 31%. Net profit [-16%] was impacted by FX losses and higher tax rate. We raise VSR forecasts assuming higher STB additions, but reduce BB revenues based on lower ARPU assumptions; we conservatively forecast BB ARPU of INR 400 in FY20 and beyond, down 12.5% from INR 457 in FY18. Our medium-term capex forecasts are also...
GTPL Hathway Ltd. has gained 34.29% in the last 3 Months
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