GTPL Hathway (GTPL) Q1 25/26 earnings summary

Executive summary

• Maintained leadership as India's largest MSO in Digital Cable TV and a top private wireline broadband provider, with stable cable TV subscribers and growth in government business despite a competitive landscape.

• Expanded digital cable TV and broadband footprint to over 1,500 towns across 26 states, connecting more than 12 million households.

• Board approved unaudited standalone and consolidated financial results for Q1 FY26 and re-appointed the Managing Director for a further three-year term, subject to member approval.

• Launched new bundled services and consumer-facing app, GTPL Buzz, to enhance customer engagement.

Financial highlights

• Consolidated total income grew 7% year-over-year and 1% sequentially to INR 9,091 million for Q1 FY26.

• Standalone revenue rose 10% YoY and 5% sequentially to INR 5,990 million; standalone EBITDA margin at 9.9%.

• Consolidated EBITDA was INR 1,123 million (12.4% margin); operating EBITDA margin stood at 22%.

• Consolidated net profit for Q1 FY26 was Rs. 73.23 million, down from Rs. 149.91 million in Q1 FY25.

• Basic and diluted EPS (consolidated) for Q1 FY26 was Rs. 0.94, compared to Rs. 1.27 in Q1 FY25.

Outlook and guidance

• Double-digit revenue growth expected to continue, with broadband CAGR projected to outpace cable.

• EBITDA margin targeted to improve to 23%-25% by year-end, supported by new platform launches and subscriber growth.

• CapEx guidance for FY26 is INR 350-400 crore, with INR 200 crore for CATV and INR 150 crore for broadband.

• Management remains confident in defending ongoing regulatory demands and has not made provisions for contingent liabilities related to license fee disputes.

• Strategic initiatives to leverage digital and OTT offerings for enhanced customer value.