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Tag: FY22 financial results

  • 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.

  • Hathway Cable and Datacom reports revenue of Rs 1,793 crore in FY22

    Hathway Cable and Datacom reports revenue of Rs 1,793 crore in FY22

    Mumbai: Hathway Cable and Datacom Ltd reported gross revenue of Rs 1,793 crore in FY22 an increase of four per cent over FY21. Its broadband revenue stood at Rs 621.9 crore while CATV revenue stood at Rs 1171.1 crore for the financial year. The company reported profit after tax of Rs 130.4 crore a decline of 49 per cent year-on-year.

    “The business model for the company was protected in spite of Covid-19 led movement restrictions and disrupted supply chains,” said the statement.

    In its fourth quarter results, the company saw gross revenues of Rs 448.8 crore, an increase of two per cent year-on-year. Broadband revenue for the quarter stood at 157.1 crore and CATV revenue at Rs 291.7 crore. It saw profit after tax of Rs 28.4 crore in the quarter, a 16 per cent decline quarter-on-quarter.

    CATV business highlights

    The company reported 5.4 million set-top-box connections and more than 109 cities and major towns. “In the last two years, the company has created an extensive incremental infrastructure for market share gain. We have connected over 250 new locations with IP links,” said the statement. “Our product/go-to-market strategy/infrastructure ready for taking benefit of a more conducive market and business scenario with pandemic becoming more manageable. Set top box procurement and market share gain plans being rolled out.”  

    It further added, “The casting of OTT apps through already seeded new generation HD boxes is being piloted. This unique feature can give access to OTT to millions of Hathway Cable TV customers without any need to buy an additional OTT box. We have also piloted TV Plug. Using this Hathway can provide the most reliable last mile cable TV connectivity from a mobile tower network.

    Hathway Cable has also launched a digital platform to enhance the competencies of partner local cable operators in the cable TV business.

    ISP business highlights

    The company’s subscription revenue stood at Rs 157.1 crore with an increase of 32K customers in Q4 FY22 led by strong FTTH customer acquisition. FTTH consumers now account for 70 per cent of overall ISP consumers. “The company saw subdued revenue growth on account of higher speed and unlimited data limits now available at lower ARPU plans at industry level,” said the statement.

    The company reported 1.11 million broadband subscribers at the end of the fourth quarter FY22. 

  • Den Networks reports revenue of Rs 1,226 crore for FY’22

    Den Networks reports revenue of Rs 1,226 crore for FY’22

    Mumbai: Cable TV distribution company Den Networks has released its financial results for the fourth quarter 2022 on Thursday. The company reported revenues of Rs 303 crore and profit after tax of Rs 49 crore higher than Q3’22 which was at Rs 44 core.

    The company reported revenue of Rs 1,226 crore for FY’22 less than it earned in FY’21 at 1,307 crore. Its profit after tax for the year stood at Rs 171 crore and the total cost for the year stood at Rs 1,022 crore.

    The company reported gross debt and healthy cash balances of Rs 2,547 crore for the quarter. It earned Rs 167 crore from subscriptions, Rs 93 crore from marketing income, Rs 26 crore from other operating income, and Rs 17 crore in activation revenues.

    The company also reported total costs of Rs 248 crore including content costs at Rs 148 crore, personnel costs at Rs 21 core, other operational expenses at Rs 79 crore, and Rs one crore provision for doubtful debts and advances.

    Den Networks operates a cable and broadband business. Its cable operations cover over 500+ cities/towns across 13 key states including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand in India. Its broadband business is enabled across 41 cities/towns in the country.

  • GTPL Hathway closes FY22 as largest MSO; revenue at Rs 24,154 million

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

    Mumbai: GTPL Hathway witnessed revenue growth (excluding EPC) of 12 per cent year-on-year (YoY) at Rs 24,154 million. The profit after tax grew by six per cent YoY at Rs 2,006 million, according to the company’s financial results for the year FY22 shared on Friday. 

    It ended the year by adding 400K cable TV subscriptions and 181K broadband subscribers.

    The company’s digital cable TV revenue increased marginally by 0.4 per cent to Rs 10,753 million. Total paying subscribers as of 31 March stood at 7.80 million. GTPL Hathway expanded cable TV operations in five additional states in FY22. It also launched a new product ‘GTPL Genie’ which is an Android TV-based hybrid set-top-box with attractive subscription bundles.

    The company’s broadband revenue growth for FY22 was 46 per cent to reach Rs 4,075 million. Total broadband subscribers increased by 29 per cent to reach 816K out of which 360K are FTTX subscribers. In FY212, the company added 830K home-pass. Home-pass as of 31 March stood at 4.70 million.

    GTPL Hathway Limited reported fourth-quarter revenues of Rs 6,209 million and profit after tax of Rs 552 million. Broadband revenue stood at Rs 1,098 million and digital cable TV revenue at Rs 2,695 million. The average revenue per user (ARPU) for Q4 FY22 stood at Rs 450.

    “We are proud to announce another year of consistent performance across all business segments,” said GTPL Hathway managing director Anirudhsinh Jadeja. “GTPL is now the largest MSO in the country, continues to be the largest MSO and broadband player in Gujarat, and has a significant presence in all other markets.”

    “We continued to deliver on our KPIs and grew by expanding in new geographies as well as penetrating deeper into existing markets. The key highlights of FY22 are stable subscription revenues, profitability and return ratios with a healthy balance sheet. The Company’s Board has recommended a dividend of Rs four per share for FY22,” he added.

    “The launch of GTPL Genie is a path-breaking initiative bringing subscriptions of bundled Live TV and OTT applications at competitive prices to our consumers. We are committed to delivering value to all our stakeholders with adept and prudent financial practices,” Jadeja further stated.