GTPL Hathway (GTPL) Q3 24/25 earnings summary

Executive summary

• Maintained leadership as India's largest MSO and key fixed broadband provider, with presence in 1,500+ towns across 23 states and over 12 million households, leading in Gujarat and West Bengal.

• Achieved consistent growth: 1.6x in Digital Cable TV and 4.2x in Broadband over 7 years, with a 17% revenue CAGR and 7% EBITDA CAGR.

• Launched new services including GTPL Buzz app, AI chatbot Jiva, and TVkey Cloud, enhancing customer experience and retention.

• Crossed 1 million broadband subscribers in FY24, with significant expansion in Maharashtra, AP, Telangana, Tamil Nadu, and North-East.

• Consistent dividend payer for 7 years, with a 40% dividend for FY24.

Financial highlights

• Consolidated Q3 FY25 revenue grew 4% YoY to INR 8,957 million; sequential growth also 4%.

• Consolidated revenue for 9M FY25 up 7% YoY to INR 26,083 million; net profit at INR 374 million.

• Standalone Q3 revenue up 8% YoY to INR 5,652 million; standalone net profit at INR 107 million.

• Consolidated EBITDA at INR 1,138 million (13% margin) for Q3 FY25; operating EBITDA at INR 1,021 million (22% margin).

• PAT at INR 374 million for 9M FY25 and INR 102 million for Q3 FY25; PBT at INR 517 million for 9M FY25 and INR 124 million for Q3 FY25.

Segment performance

• Digital cable TV subscribers at 9.6 million, with 8.9 million paying; YoY increase of 200K in both active and paying subscribers.

• Broadband active subscribers at 1.042 million, up 37K YoY (4% growth); homepass at 5.95 million, 6% YoY growth.

• Broadband ARPU increased by INR 5 YoY to INR 465; average data consumption per month up 6% YoY to 365 GB.

• B2B broadband segment contributed over 100K subscribers, with B2B accounting for about 50% of new additions.

• Homepass for broadband at 5.95 million, with ~75% available for FTTX conversion.