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Buy GTPL Hathway; target of Rs 165: ICICI Direct

ICICI Direct is bullish on GTPL Hathway has recommended buy rating on the stock with a target price of Rs 165 in its research report dated April 21, 2021.

April 21, 2021 / 04:28 PM IST
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ICICI Direct's research report on GTPL Hathway

GTPL Hathway (GTPL) reported a robust operating performance in Q4FY21. Revenues at Rs 748.7 crore were down 14.2% YoY. However, ex-EPC, revenues were at Rs 560.1 crore, up 18.2% YoY, led by growth broadband and placement income. Subscription and broadband revenues were at Rs 266.5 crore and Rs 81.7 crore, respectively. Reported EBITDA increased 2.4% YoY to Rs 116.4 crore. EBITDA margins at 15.5% were down 180 bps YoY post increase in operating expenses. Core EBITDA was up 1.5% YoY to Rs 102.5 crore with margins at 18.3%, down 300 bps YoY. Subsequently, PAT was at Rs 56.9 crore against net loss of Rs 13.6 crore in Q4FY20.


We maintain BUY rating with a revised target price of Rs 165/share (previous TP: Rs 175) at 10x FY23E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Apr 21, 2021 04:28 pm

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