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Last Updated : Jul 11, 2019 09:42 AM IST | Source: Moneycontrol.com

GTPL Hathway surges 20% on stellar earnings performance in Q1

At operating level, EBITDA increased 38 percent to Rs 115.6 crore compared to year-ago

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Shares of digital cable television and broadband services provider GTPL Hathway rallied 20 percent intraday on July 11 after the company reported stellar earnings performance for the quarter ended June 2019.

Consolidated profit during the quarter jumped 120 percent to Rs 29.45 crore compared to Rs 13.37 crore reported in the same period last fiscal.

Revenue from operations grew 50 percent to Rs 445.5 crore with subscription business showing a whopping 47 percent growth YoY in Q1.

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At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) increased 38 percent to Rs 115.6 crore compared to year-ago.

"Q1FY20 was the first full quarter with New Tariff Order (NTO), which has led to significant growth in subscription revenue. Overall, the first quarter performance was in line with expectation and we see next three quarters equally exciting," Anirudhasinhji Jadeja, Managing Director said in a BSE filing.

He further said with NTO being stabilised, 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 the company to converge linear TV viewing with OTT usage.

The stock was quoting at Rs 62.70, up Rs 8.70, or 16.11 percent on the BSE at 0928 hours IST.
First Published on Jul 11, 2019 09:42 am
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