GTPL Hathway stock slips 3% after sharp plunge in Q2 profit

GTPL Hathway shares slipped 3 percent on October 10 after the company reported a sharp slump in its net profit for the July-September quarter.

At 10.10 am, shares of GTPL Hathway were trading at Rs 162.02 on the NSE. The stock has also been on a consistent downtrend, delivering negative returns for the past one week, one month, three month, one year as well as three year periods.

The digital cable TV and broadband service provider's net profit slumped 63 percent on year to Rs 12.7 crore in Q2, down from Rs 34.2 crore in the year ago period. This also marks the ninth time in the past ten quarters that the company has reported an on year decline in its profit.

The drag on the bottomline was also on account of weak operational performance as EBITDA margin contracted sharply to 12.5 percent in Q2 in comparison to 16 percent in the same quarter last fiscal.