KOLKATA: Cable TV and broadband service provider GTPL Hathway reported its net profit rose 36.81 per cent to Rs 45.23 crore in the quarter ended 31 December 2020, as against Rs 33.06 crore for the same quarter in December 2019.

Consolidated revenue for the quarter stood at Rs 553 crore, 21 per cent up year-on-year basis. The operator witnessed significant increase in ISP revenue which has reached Rs 7.78 crore in the quarter, 84 per cent higher year-on-year basis.

The company has added 55,000 net broadband subscribers in the quarter.  Data consumption per customer has gone up steeply to 205 GB/month as on December 2020 compared to 126 GB/month in the corresponding period the year before, a 63 per cent spike year-on-year.

However, cable TV revenue has grown marginally by five per cent to reach Rs 27.18 crore. In Q3 FY21, the company seeded set top boxes stood at 10.61 million and paying subscribers stood at 7.35 million. It has added 4,70,000 new home-pass in the nine months in FY21. 

The financial performance for the last nine months pointed at a consolidated revenue of Rs 1531.1 crore, up by 17 per cent y-o-y. Profit after tax for this period stood at Rs 131.4 crore showing a spike of 45 per cent y-o-y. Cable TV subscription revenue stood at Rs 804.7 crore up by five per cent y-o-y. Broadband revenue stood at Rs 197.5 crore, up 63 per cent since 2019.

GTPL Hathway managing director Anirudhsinh Jadeja said, “GTPL Hathway continues to deliver on key KPIs, despite lockdown and restrictions in 9M FY21. The highlight of the first nine months of the financial year was the improvement in subscription revenues for both CATV and broadband business, strong profitability, debt reduction, geographical expansion and robust operational performance.

In the recently concluded quarter, the company has reduced its net debt by Rs 887 million. Broadband business picked up pace owing to e-learning and work from home resulting in additional 1,85,000 subscribers during the period. 

“We are looking forward to close FY21 on a high note coupled with our planned launch of new products and services in Q4 FY21 along with expanding GTPL’s footprints in existing and new markets,” Jadeja added.