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GTPL Hathway surges 20% on strong Q1 numbers

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NEW DELHI: Shares of GTPL Hathway surged 20 per cent in morning trade on Thursday, a day after the company said its June quarter consolidated net profit rose 121 per cent on year-on-year (YoY) basis. The company's June quarter consolidated net profit came at Rs 29.4 crore while consolidated revenue in June quarter jumped 50 per cent YoY to Rs 454.3 crore.

Ebitda rose 38 per cent YoY to Rs 115.6 crore for the said quarter. "Our first-quarter performance was in line with our expectation and we see our next three quarters equally exciting.

Q1FY20 was the first full quarter with New Tariff Order (NTO), which has led to significant growth in subscription revenue," said Anirudhasinhji Jadeja, Managing Director, GTPL Hathway.

With NTO being stabilised, our focus on taking FTTH to more and more homes, re-launching industry’s first dual service product ‘GTPL GIGAHD’ to convert current customers along with adding new customers and concurrently launching hybrid set top box will help us to converge linear TV viewing with OTT usage.

We will further increase the pace of growth momentum towards CATV and Broadband business in FY 2019 – 20, he added. Shares of GTPL Hathway traded 15.83 per cent up at Rs 62.55 on BSE around 9:45 am.




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