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Tag: Anirudhsinh Jadeja

  • GTPL Hathway navigates challenging quarter, eyes future growth

    GTPL Hathway navigates challenging quarter, eyes future growth

    MUMBAI: GTPL Hathway has unveiled its unaudited financial results for the first quarter ended 30 June 2025, revealing a mixed bag for the entertainment and broadband major. While the company saw an uptick in its top line, profitability faced a squeeze during the period.

    The consolidated revenue from operations for Q1 FY26 stood at Rs 5,946.79 million, a healthy increase from Rs 5,359.94 million reported in the same quarter last year. Total income also reflected this growth, climbing to Rs 5,990.20 million from Rs 5,432.95 million year-on-year. On a consolidated basis, total income for the quarter reached Rs 9,091 million, marking a 7 per cent rise year-on-year and a 1 per cent increase quarter-on-quarter.

    However, the spotlight falls on the company’s profitability. Net profit after tax (Pat) saw a significant decline, coming in at Rs 56.25 million for Q1 FY26, a stark contrast to Rs 150.23 million in Q1 FY25. Consolidated PAT was Rs 105 million, consistent with the previous quarter but down from Rs 143 million in Q1 FY25. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) was recorded at Rs 1,123 million, with an EBITDA margin of 12.4 per cent. This is a decrease from Rs 1,205 million and a 14.2 per cent margin in the corresponding quarter of the prior fiscal year.

    Operationally, GTPL Hathway continues to expand its reach. The cable television business maintained a strong subscriber base, with 9.60 million active set-top boxes and 8.90 million paying subscribers as of Q1 FY26. The broadband segment also showed progress, reaching 1.05 million active subscribers and a home-pass count of 5.95 million. Average data consumption per customer soared to 410 GB per month, a 17 per cent increase year-on-year, while average revenue per user (ARPU) held steady at Rs 465..

    In a strategic move, the board of directors approved the re-appointment of Anirudhsinh Jadeja as managing director for a further three-year term, effective from 8 December 2025.

    The company also highlighted a contingent liability related to a demand from the Department of Telecommunications (DOT) for licence fees totalling Rs 9,754.15 million. GTPL Hathway remains confident in its legal position and has not recognised any provision for this matter.

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  • AIDCF elects new leadership: GTPL’s Anirudhsinh Jadeja takes the helm

    AIDCF elects new leadership: GTPL’s Anirudhsinh Jadeja takes the helm

    MUMBAI: The All India Digital Cable Federation (AIDCF), the apex lobby for digital cable operators in India, has named a new leadership team — with GTPL Hathway boss Anirudhsinh Jadeja stepping in as president, replacing outgoing DEN Networks chief executive S.N. Sharma.

    Joining Jadeja at the top are Sankaranarayana, vice chairman of Asianet Satellite Communications, as vice president, and Sanjay Goyal, group CFO at Fastway Transmissions, as treasurer.

    The outgoing Sharma said it was a “privilege” to lead the federation during a transformative phase. “I’m proud of the strides we’ve made in voicing the sector’s concerns with clarity and conviction,” he noted, while wishing the new team “continued success.”

    AIDCF secretary general Manoj Chhangani echoed the sentiment, calling Jadeja and his colleagues a “dynamic and experienced team” poised to strengthen the Federation’s role as the industry’s collective voice.

    A first-generation entrepreneur, Jadeja has over three decades of experience and is credited with building India’s largest multi-system operator. Sankaranarayana, an IIT-IIM alumnus, has steered Asianet since 2006, bringing a blend of engineering prowess and business strategy to the table. Goyal, meanwhile, has worn multiple hats across Jio, Siti Networks and Vishal Retail, and is known for his sharp financial acumen and transformation playbook.

    With this new lineup, AIDCF appears ready to recalibrate its priorities and reassert its relevance in an increasingly streaming-dominated media landscape.

  • GTPL sells dormant associate for Rs 1 Lakh

    GTPL sells dormant associate for Rs 1 Lakh

    MUMBAI: GTPL, the prominent multi-system operator (MSO) and broadband provider led by Anirudhsinh Jadeja, has offloaded its entire stake in a non-operational associate for Rs 1 lakh completing the transaction on 10 March.

    The cable TV and internet services company sold its 50 per cent equity holding in GTPL Jay Mataji Network Pvt Ltd to Deepak Kumar Yadav at approximately 11:00 a.m. IST, according to a regulatory filing.

    The transfer of 10,000 equity shares was finalised immediately after receipt of payment, effectively ending the associate relationship between the two entities.

    GTPL confirmed that  Yadav has no connection to its promoter or promoter group, and the transaction does not constitute a related party deal under regulatory provisions.

    Industry analysts note this move aligns with GTPL’s recent strategy of consolidating its position in core cable and broadband markets while divesting non-performing assets.

  • GTPL: Investing in Q3 FY 2025 for growth

    GTPL: Investing in Q3 FY 2025 for growth

    MUMBAI: It has been a challenging year for the cable TV industry, with increasing pressure on their broadband operations from wireless operators like Jio, Airtel, and Vi. Cord-cutting continues to grow, alongside the rise of cord-nevers. This trend is likely to be reflected in the financial results of listed MSOs and DTH operators.
    Some of these challenges are evident in the results of one of India’s top MSOs, GTPL Hathway, although the company is investing for growth.

    The Anirudhsinh Jadeja-led group reported a 7.64 per cent growth in revenue for the third quarter ended 31 December 2024, reaching Rs 565.16 crore, compared to Rs 521.69 crore in the corresponding period of the previous year. The company spent Rs 14.93 crore on the purchase of project material (nil in Q3 ended 31 December 2023). Operating expenses rose significantly to Rs 441.70 crore (Rs 364.22 crore), while finance costs increased to Rs 6.6 crore (Rs 4.4 crore). These higher costs impacted the profit before exceptional items and tax (PBEIT), which declined to Rs 14.24 crore (Rs 25.91 crore).

    Despite a lower tax outgo of Rs 3.58 crore (Rs 13.83 crore), net profit fell to Rs 10.66 crore (Rs 19.13 crore). Total comprehensive income also decreased to Rs 10.69 crore (Rs 19.21 crore).

    The company declared in its investor presentation that its active cable TV subscribers and paying subscribers were at 9.6 million and 8.9 million in Q3 FY25 as against 9.4 million  and 8.7 million in Q3FY24 respectively. Its subscription income from CATV fell six per cent in Q3FY25 to Rs 211.2 crore (Rs 225.1 crore in Q3FY24), while its placement income rose 21 per cent to Rs 308 crore (Rs 254.2 crore in Q3FY24).

    Its content costs climbed 14 per cent  to Rs 382.4 crore in Q3FY25 from Rs 335.1 crore. GTPL Hathway’s EBITDA fell 14 per cent to Rs 65.4 crore in Q3FY25 from Rs Rs 75.7 crore in Q3FY24. 

    On the broadband front, its active subscriber base at 1,042,000  in Q3 FY25 showed an increase of 37,000 over the previous year’s corresponding quarters. Average revenue per user too rose by Rs 5 to Rs 465 in the same period. Its home passes were higher by 350,000 touching 5.95 million by 31 December 2024. 

    On a nine-month basis ending 31 December 2024, GTPL Hathway reported total income of Rs 1653.37 crore, up from Rs 1545.56 crore in the same period the previous year. However, expenditure on project material rose to Rs 21.70 crore (Rs 0 in the previous year’s comparative period). Higher operating expenses at Rs 1196.57 crore (Rs 1087.1 crore) and increased finance costs (Rs 15.61 crore vs Rs 11.55 crore) led to a lower PBEIT of Rs 53.48 crore (Rs 90.07 crore). Net profit after tax fell to Rs 39.65 crore, compared to Rs 66.29 crore.

    During the current quarter, GTPL sold its entire 61 per cent  equity stake (12,200 shares) in its subsidiary GTPL Bansidhar Telelink for Rs 0.12 million. Additionally, it entered into a share transfer agreement to acquire the remaining 49 per cent stake (1,00,000 equity shares of Rs 10 each) in its subsidiary GTPL Vision Services from existing shareholders for Rs 1131 per share, totaling Rs 113.10 million.

    The company clarified that revenue from operations includes projects executed by the group, amounting to Rs 7.6 crore for the quarter and nine months ended 31 December 2024, compared to Rs 41.64 crore for the same periods in the previous year and the year ended 31 March 2024.

  • GTPL Hathway: net profit plummets, revenue rises nine per cent in Q2 FY 2025

    GTPL Hathway: net profit plummets, revenue rises nine per cent in Q2 FY 2025

    MUMBAI: Ahmedabad-hqed GTPL Hathway Ltd’s results for Q2 FY 2025 ended on 30 September 2024 are a bit of a mixed bag, according to the company’s filings with the Bombay stock exchange.

    Total consolidated income rose nine per cent to Rs 8,620 million as against Rs 7,900 million in the corresponding quarter of the previous year. Net profit however plunged 62 per cent at Rs 129 million as against Rs 344 million (Q2 FY2024). EBITDA for Q2 FY25 stood at Rs 1,138 million (Rs 1,351 million); EDITDA margin was at 13.2 per cent (17.1 per cent), operating EBITDA margin was at 22 per cent (25.2 per cent).

    GTPL Hathway’s active digital cable TV subscribers rose by 100,000 over the previous year’s corresponding quarter to touch 9.50 million, even as paying subscribers rose by a similar number reaching  8.80 million.

    Its broadband subs also jumped by 50,000 to get to 1.04 million with home passes standing at 5.95 million, a pole vault of 400,000 year on year.  Of the 5.95 million, 75 per cent are FTTX conversion ready, the MSO says. Average revenue per user for broadband stood at a chunky Rs 460 while data consumption per user was 350 GB per month, an increment of 13 per cent year on year.

    According to GTP Hathway managing director Anirudhsinh Jadeja what helped the cable TV MSO retain its no 1 position as the largest operator in the country in Q2 2025 is its sharp focus on innovation and enhancing customer experience. 

    Anubhai (as he is called in the trade) added: “Broadband business is witnessing healthy subscriber growth, propelled by both direct customer additions and with strategic use of our extensive partner network to expand. In the cable business, our efforts are focused on growing our subscriber base through a mix of organic growth and industry consolidation via acquisitions of existing operators and MSOs. This dual strategy strengthens our market position and builds on our success.”

    He explained that the company added the customer app GTPL Buzz, relaunched its website (gtpl.net), introduced TV everywhere, Blacknut cloud gaming, Distro TV, while integrating its AI-enabled app Giva for sales as well as support during the quarter.

    “These customer touchpoints have been designed for a consistent user experience and to deliver seamless interaction across platforms and devices,” said Anubhai.

    GTPL’s shares rose Rs 2.65 to end the day at Rs165.65.

  • GTPL Hathway announces change in directorate

    GTPL Hathway announces change in directorate

    MUMBAI: There has been a change in the directorate at GTPL Hathway. The Anirudhsinh Jadeja-promoted network has accepted the stepping down of Falgun Shah and Kunal Chandra – as independent directors, having completed their second term from 27 September 2024.  It made this announcement to the Bombay stock exchange in end-September.

    The duo has been replaced by Dhiren Dalal and Sunil Sanghvi who came on board as independent directors from 28 September.

    It may be recalled that GTPL Hathway had disclosed in its annual report for the year ended 31 March 2024 that its rapid expansion in Andhra Pradesh , Telangana, Tamil Nadu, the north-east, Delhi, Harayana and Uttarkhand had led to an increase in its active subscribers by 550,000 to reach 9.5 million while its paying subscribers rose 600,000 to touch 8.8 million on a year on year basis. Its standalone revenue too rose to Rs 2028.52 crore and its net profit to Rs 76.24 crore. 

  • GTPL Hathway reappoints Anirudhsinh Jadeja as a MD for three years

    GTPL Hathway reappoints Anirudhsinh Jadeja as a MD for three years

    Mumbai: GTPL Hathway has reappointed Anirudhsinh Jadeja as managing director for three years, at its 16th annual general meeting held on Friday.

    His reappointment will take effect from 8 December on the expiry of his present term of office. The AGM also approved terms and conditions of his appointment, including remuneration.

    The board also extended independent director Divya Momaya’s term up to 27 September 2024.

    The company declared dividend on equity shares at the rate of Rs 4 per equity share of Rs 10 each for the financial year ended 31 March 2022.

    It also appointed Amit Shah, a director retiring by rotation. The board appointed Deloitte Haskins & Sells, Chartered Accountants as the statutory auditors of the company for a term of five consecutive years and fixed their remuneration.

  • GTPL Hathway to maintain FY22 revenue and EBIDTA growth in FY23

    GTPL Hathway to maintain FY22 revenue and EBIDTA growth in FY23

    Mumbai: GTPL Hathway saw 12 per cent growth in revenues at Rs 24,154 million and four per cent increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs 5,677 million year-on-year in FY22. The company expects to maintain this growth rate for the current financial year i.e., FY23.

    “The guidance is just that we are going to maintain our  compound annual growth rate (CAGR), 100 basis points here and there but we are going to maintain our CAGR in both revenue and EBITDA that’s the way as we look forward to our aggressive growth in both the businesses in this financial year,” said GTPL Hathway Ltd business head – CATV and chief strategy officer Piyush Pankaj during an investor call held recently.

    GTPL Hathway closed the year 2021 becoming the largest multi-system operator in the country with its cable TV (CATV) subscriber base growing to 8.40 million as per Telecom Regulatory Authority of India’s (Trai) performance indicator report. “Our CATV subscriber base has grown sharply by 2.3 times in the last six years and for FY2022 it has grown by five per cent,” observed Pankaj.

    ALSO READ | GTPL Hathway closes FY22 as largest MSO; revenue at Rs 24,154 million

    The company lost 7.5 lakh commercial customers when Covid-19 pandemic started and has seen the return of four lakh customers since then. The rate of returning customers has slowed down from 20-25 lakh in the last quarter to 20K average during the fourth quarter FY22.

    The majority of the company’s cable TV subscriptions come from the Gujarat market which has 95 per cent share with the remaining five per cent spread across markets such as Pune, Nagpur, Hyderabad, Jaipur, Patna and Varanasi.

    “Our CATV business expansion will gain momentum with organic and inorganic growth in the coming quarters,” said Pankaj. “After the new tariff order (NTO) , we said that growth will come from inorganic and organic. The first year of NTO has gone into stabilising the industry. Just as we were getting ready for acquisitions and going organic, Covid hit us in March 2020 and we were not able to do any inorganic growth. So, from this quarter onwards we have started both inorganic and organic growth.”

    The company’s capex for FY22 was Rs 363 crore which includes Rs 180 crore of CATV capex and Rs 183 crore of broadband capex. “Next year we are keeping the target of Rs 450 crore for the capex on which around Rs 180 crore is going to be cable capex and rest is going to be the broadband capex,” said Pankaj.

  • GTPL Hathway ropes in Verimatrix for secure Android TV rollout

    GTPL Hathway ropes in Verimatrix for secure Android TV rollout

    Mumbai: Digital cable TV and broadband service provider GTPL Hathway Ltd (GTPL) has announced its partnership with Verimatrix leveraging the latter’s Video Content Authority System (VCAS) to protect its Google Android TV-based DVB hybrid set top box.

    Verimatrix (Euronext Paris: VMX) helps power the modern connected world with people-centered security. Verimatrix VCAS is designed as a future-proof and scalable security solution for premium video content. Its DVB Hybrid offers GTPL a combination of protection and flexibility as delivery methods expand and evolve throughout India.

    “Verimatrix is a time-tested content security leader in the market that offers unprecedented ease of deployment and gives us the confidence that we will be ready to easily adapt as our offerings progress,” said GTPL Hathway MD Anirudhsinh Jadeja. “By selecting Verimatrix as our security provider, we gain much more than just studio compliant protection – GTPL gains enhanced workflow and integration options as well as the reliability that we’re ready to rapidly scale up new subscribers across our areas of operation, to any additional devices we choose later, with a single security platform.”

    “We are extremely pleased to announce GTPL Hathway as one of our latest customers,” stated Verimatrix COO and president Asaf Ashkenazi. “GTPL’s large customer base in India is provided a frictionless premium entertainment experience while their operators harness the full power of Verimatrix’s security innovations and award-winning customer support behind the scenes – ensuring GTPL is armed with the peace-of-mind it demands today and the performance and scalability it expects for tomorrow.”

  • GTPL Hathway earmarks Rs 400 crore capex for FY22

    GTPL Hathway earmarks Rs 400 crore capex for FY22

    KOLKATA: Pan India multi-system operator (MSO) GTPL Hathway is increasing its capex projection for FY22 to Rs 400 crore, compared to Rs 335 crore it invested in FY21, a top executive revealed in an investors call.

    Out of the overall capex projected for this financial year, Rs 225 crore to Rs 230 crore will be invested in the broadband segment, while the rest is going to be deployed for the cable TV side, especially for expansion in new markets. All capex will be funded through internal accruals only. The company is not looking forward to any fund raising activity at this point of time, GTPL Hathway cable TV head and chief strategy officer Piyush Pankaj noted.

    Earlier, the MSO revealed its plans to grow its cable TV subscriber base by more than 50 per cent in the next three years. While the growth in FY21 was flat, the company has cited the  decline in commercial connections as reason for the sluggish addition. 

    “The hotels, corporates, housekeeping, offices, small offices and all, which have not come back totally because of the pandemic. We are looking forward that in the normal scenario this business will grow. The residential customers are growing. We have connected around half a million more residential houses in the pandemic. We are looking forward that we will continue to grow,” Pankaj commented.

    GTPL Hathway is excited about six new states it entered for potential organic growth. Moreover, there is a lot of opportunity for consolidation, Pankaj added. It is already on the verge of executing some deals. While pandemic came in the way to executing deals in FY21, it is looking at closing the consolidation deals as the situation improves going forward.

    Overall, the cable TV market has been growing from anything between four to seven per cent CAGR, mentioned GTPL Hathway chairman and non-executive director Rajan Gupta. It varies from state to state, where states like Odisha have grown higher.

    It is also optimistic about maintaining its broadband additions as well, which is around 60,000 quarterly. “If you see 31 March 2020, we were showing the ISP internet service at around Rs 5 crore, which has increased to Rs 43 crore in 2021, quarter-to-quarter it is down, but year-to-year it is ten times more,” GTPL Hathway promoter and MD Anirudhsinh Jadeja highlighted.

    Rather than increasing broadband ARPU, the current focus is to create the broadband market where it enjoys a high market share in cable like Gujarat. As upgradation happens from LAN to FTTH, there will be some ARPU increase, said  Gupta. The shift in ARPU with change in connection happened last year, and he expects the momentum to continue.

    GTPL Hathway planned to launch hybrid boxes in Q4FY21, but production has been delayed due to the pandemic. The boxes are ready and they are getting shipped, Pankaj stated.

    While Jio is adding broadband subscribers aggressively, Jadeja claims it is not a competitor yet. “It is good now that Jio is also our partner and we might say that we are getting the cost synergy benefits related to the content, infrastructure, or whatever Jio’s expertise is for the overall industry,”  remarked Jadeja.

    “Jio’s market is spread in Ahmedabad, Baroda, Surat, and some other cities in Gujarat. GTPL covers almost the majority of Gujarat with a presence in 100 towns. The major competitor is BSNL and there are no other players,” he added.