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GTPL Hathway Achieves 1 Million Active Broadband Subscribers; Declares Consistent Financial Performance
[January 11, 2024]

GTPL Hathway Achieves 1 Million Active Broadband Subscribers; Declares Consistent Financial Performance

AHMEDABAD, India, Jan. 11, 2024 /PRNewswire/ -- GTPL Hathway Limited, India's largest Digital Cable TV service provider and a leading Broadband service provider, announced its Financial Results for the Quarter ending December 31, 2023



Key Financial Highlights

  • Q3 FY24 revenue stood at ? 8,607 million - a growth of 9% Q-o-Q and 22% Y-o-Y; Subscription Revenue increased by 1% Q-o-Q and 17% Y-o-Y
  • Q3 FY24 EBITDA (including other income) stood at ? 1305 million
  • Q3 FY24 Profit After Tax stood at ? 238 million

Particulars (? in million)

Q3 FY24

Q3 FY23


Q2 FY24


Subscription Revenue



17 %


1 %

Broadband Revenue



9 %


3 %

Total Revenue



22 %


9 %





EBITDA Margin (%)

15.2 %

18.6 %

17.1 %

Operating EBITDA*(%)

24 %

25 %

25 %

Profit After Tax




     *Operating EBITDA (%) = (EBIDTA net of Activation & Other income) / (Subscription+ ISP + Other Operating income)

Business Performance Highlights

  • The Company onboarded celebrities Kartik Aaryan and Rashmika Mandanna as its brand ambassadors.
  • A 360-degree campaign "#AbKeZamaneKaConnection" was launched across Print, TV, OOH and Digital media.

Digital Cable TV

  • Active subscribers increased by 500K Y-o-Y
  • Subscription revenue increased by 1% Q-o-Q and 17% Y-o-Y
  • Revenue from Cable TV is up 21% Y-o-Y & 4.2% Q-o-Q


  • Increase in broadband subscribers of 110K, an increase of 12 % Y-o-Y
  • Homepass as of December 31, 2023 stood at 5.60 million – an addition of 450K Y-o-Y. Of the 5.60 million, 75% available for FTTX conversion
  • The Broadband average revenue per user (ARPU) stood at ? 460 per month per subscriber.
  • Average data consumption per user per month at 345 GB, an increase of 11% Y-o-Y

Commenting on the Results, Mr. Anirudhsinh Jadeja – Managing Director, GTPL Hathway Limited said,

 "Q3 FY24 was memorable for us as a team as we hit the unique milestone of reaching 1 Million Active Subscribers in our Broadband Division. We foresee tremendous growth opportunities in this division overall as more homes get access to wired broadband. In the Digital Cable TV business, we continue to evaluate new opportunities while strengthening our presence in our existing markets.

During the quarter we appointed Mr. Saurav Banerjee a Chartered Accountant by profession as our CFO who replaces Mr. Anil Bothra whom we thank for his services to the company."

About GTPL Hathway Limited

GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is a leading largest Private Wireline Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. The Company's Digital Cable TV services reach 1,500 plus towns across India in 22 states including Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Madhya Pradesh, Jharkhand, Rajasthan, Odisha, Assam, Tripura, Meghalaya, Manipur, Nagaland, Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Delhi, Haryana and Uttarakhand.  As of Dec 31, 2023, the Company has approximately 9.40 million Active Digital Cable TV Subscribers and 1.00 million Broadband Subscribers and a Broadband homepass of about 5.60 million.

Safe Harbor

Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labor relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs.  The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.


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