Cable TV



GTPL cable TV business pushes revenue, profits up in Q1 2020

Cable TV revenue up 32 percent, op profit trebles

BENGALURU: GTPL Hathway Ltd (GTPL) reported 31.9 percent growth in revenue for the quarter ended 30 June 2019 (Q1-2020, quarter or period under review) and almost three times the operating profit for its cable TV business (CATV business) as compared to the corresponding year ago quarter Q1 2019. The company’s consolidated  revenue from operations for the quarter under review grew 50 percent year on year (y-o-y) while consolidated total income expanded 30.3 percent in Q1 2020 as compared to Q1 2019. Consolidated profit after tax more than doubled (grew 164.3 percent) to Rs 33.23 crore in Q1 2020 as compared to Rs 12.57 crore in Q1 2019.

GTPL reported consolidated revenue from operations at Rs 445.47 crore in Q1 2020 as compared to Rs  296.91 crore in Q1 2019. Consolidated total income for the period was Rs 454.30 crore as compared to Rs 296.91 crore in the corresponding year ago quarter. CATV business revenue was Rs 344.16 crore in Q1 2020 as compared to Rs 260.93 crore in Q1 2-19. CATV business reported operating result of Rs 30.49 crore for the period under review as compared to Rs 10.17 crore for Q1 2019.

The company’s internet services business (Ex-EPC Project numbers) revenue grew 9.2 percent to Rs 39.29 crore in Q1 2020 from Rs 35.98 crore in Q1 2019. The segment incurred a small loss of Rs 0.14 crore in Q2 2020 as compared to an operating profit of Rs 2.40 crore in the corresponding year ago quarter. The company had been awarded Package B of the prestigious Bharat Net Phase-II project from the Gujarat Fibre Grid Network Ltd under Digital India Initiative (EPC Project) last year. GTPL reported revenue of Rs 62.02 crore an operating profit of Rs 2.89 crore from the EPC Project.

GTPL reported revenue (Ex EPC Project) of Rs 391.1 crore, which was 29 percent more y-o-y. The company says in an earnings release that its CATV subscription revenue increased 47 percent y-o-y to Rs 247.2 crore. EBITDA Ex EPC Project increased 32 percent y-o-y to Rs 110.3 crore. Ex EPC Project PAT doubled to Rs 26.6 crore.

On the operational front, GTPL says that it has seeded 200,000 STBs and added 300,000 digital paying subscribers in Q1 2020. The company says that it had 97 lakh (9.7 million, 0.97 crore) digital paying subscribers as on 30 June 2019. Phase-wise seeding as on June 30, 2019 for Phase 1, Phase 2, Phase 3 and Phase 4 were at 8.6 lakh (0.86 million, 0.086 crore); 22.6 lakh  (2.26 million, 0.226 crore); 30 lakh (3.00 million, 0.3 crore) and 35.8 lakh (3.58 million, 0.358 crore) respectively.

Further, GTPL says that two thirds or 10,000 of the 15,000 new broadband internet subscribers were FTTX subscribers. Consumption per customer at 120 GB/month as on June 2019 was up from 38 GB/month in March 2017, or data consumption increased 3x over two years’ period.

Company speak

Commenting on performance, GTPL managing director Anirudhasinhji Jadeja said, “Q1FY20 was the first full quarter with New Tariff Order (NTO), which has led to significant growth in subscription revenue. Subscription revenue grew by 47percent on a y-o-y basis. Overall, our first quarter performance was in line with our expectation and we see our next three quarters equally exciting. With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage. We will further increase the pace of growth momentum towards CATV and broadband business in FY 2019 – 20.”

Let us look at the other numbers reported by GTPL

Consolidated total expenditure increased 42.7 percent during the quarter under review to Rs 403.99 crore from Rs 283.11 crore in Q1 2019. Pay channel cost in Q1 2020 increased 42.5 percent to Rs 180.17 crore from Rs 126.44 crore in the previous year. Other operational costs increased 2.7 percent to Rs 21.39 crore from Rs 20.83 crore.

Employee benefits expense in Q1 2020 was almost flat (decreased 0.1 percent) to Rs 35.29 crore from Rs 35.32 crore in the correspond period of the previous fiscal. Finance costs reduced 20.7 percent during the querter under review to Rs 12.45 crore from Rs 15.70 crore. Other expenses in the period increased 29.8 percent to Rs 48.37 percent to Rs 37.26 crore in the corresponding quarter of the previous year.

Latest Reads
SITI Networks elevates Anil Kumar Malhotra to CEO

MUMBAI: SITI Networks has elevated Anil Kumar Malhotra as the new CEO of the company. Malhotra’s appointment will be effective from 1 September. He joined SITI Networks as chief operating officer in 2011. Malhotra holds over 34 years of rich experience across the cable television industry with deep...

Cable TV People
IMCL sees 11% revenue growth in FY19

IndusInd Media & Communications Ltd (IMCL) is hoping to achieve a positive profit after tax for the financial year 2019-20. In FY 2019, the company’s subscription revenue grew by 11 per cent and subscriber base by 10 per cent over FY 2018.

Cable TV Multi System Operators
Hinduja Ventures Ltd announces reorganisation of its media & communications business

MUMBAI: The Board of Directors of Hinduja Ventures Limited ("HVL") at its meeting held today have accorded In-Principle  approval  for reorganization of Media and  Communications  undertaking of Induslnd Media & Communications Limited ("IMCL"), into HVL subject to all statutory/ regulatory...

Cable TV Local Cable Operators
Tamil Nadu CM drops minister from cabinet due to cable TV tariff spat

While Tamil Nadu’s state-run cable operator Arasu Cable revised down its subscription rates recently, the move has led to a political crisis in the state. Chief Minister Edappadi K Palaniswami has dropped former IT minister Dr Manikandan from his cabinet.

Cable TV Local Cable Operators
GTPL Hathway acquires SCOD18 Networking to expand footprint in Maharashtra

MUMBAI: Cable TV and broadband service provider GTPL Hathway has acquired 100 per cent shares of SCOD18 Networking Pvt Ltd on Monday. The company informed the exchanges about the acquisition in a filing on Tuesday. While the company has a strong presence in Gujarat, the acquisition has been done...

Cable TV Local Cable Operators
Arasu Cable revises subscription rates

Tamil Nadu’s state-run cable operator Arasu Cable has revised down its subscription rates, with effect from 10 August. Under the new subscription rate, package of 190 channels will be available for Rs 154.

Cable TV Local Cable Operators
Cable TV subscription drives Hathway revenue growth in Q1 FY 2020

BENAGLURU: Hathway Cable and Datacom Ltd (Hathway) reported 38 percent growth in subscription revenue from its cable TV business (CATV) for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y) Q1 2019. CATV subscription...

Cable TV Local Cable Operators
Arasu Cable plans to launch an OTT service

Tamil Nadu Arasu Cable TV Corporation (TACTV), the State-owned MSO of Tamil Nadu, is soon jumping on the OTT bandwagon. In addition to it, the MSO will also be providing IPTV services and internet connectivity to rural and urban households. The information was shared by the state minister for...

Cable TV Multi System Operators
GTPL Hathway consolidated Q1 FY20 PAT at Rs 294 mn, up 121 per cent y-o-y

GTPL Hathway Ltd (GTPL), India’s leading digital cable TV and broadband service provider, today announced the financial results for the first quarter of financial year 2019–20, as approved by its board of directors.

Cable TV Local Cable Operators

Sign up for our Newsletter

subscribe for latest stories