GTPL Hathway shares rose by 6 percent to Rs 122.25 on July 17 at 10:11 am, following the company's announcement of its financial and operating results for the first fiscal quarter ending June 30, 2023.
The digital cable TV and wireline broadband service provider's revenue for the quarter grew by 22.7 percent year-on-year (YoY) to Rs 774.4 crore.
The cable TV business's active subscribers grew by 650,000 YoY. Active subscribers stood at 9.05 million, and Homepass stood at 5.40 million as of June 30, 2023. The average revenue per user (ARPU) for the broadband business stood at Rs 460, up by Rs 10 YoY.
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Furthermore, according to regulatory filings, GTPL Hathway has acquired 34.34 percent of Metro Cast Network India to boost its presence in key existing markets of Maharashtra and Karnataka.
Commenting on the results, Managing Director Anirudhsinh Jadeja said, "GTPL continues to be the largest MSO (multiple system operator) in the country and the largest Digital cable TV and broadband player in Gujarat. We are consistently adding an active subscriber base in both business segments, and our goal will be to ensure that the company stays firmly on this path of growth while ensuring we serve our customers' expectations well."
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