Mumbai: Digital cable TV and broadband service provider GTPL Hathway’s internet service provider (ISP) business grew by 50 per cent YoY, according to its financial results for Q2 FY2022. The company reported consolidated revenues of Rs 605.2 crore up by four per cent YoY.

The company’s paying subscribers stood at 7.35 million out of which 2,75,000 are FTTX subscribers at the end of H1 FY22. It added 1,00,000 net broadband subscribers in H1 FY22. The broadband average revenue per user (ARPU) for Q2 FY22 stood at Rs 440 which is up by two per cent YoY.

“GTPL is in a sweet spot for converting its strong existing CATV subscriber base of 10+ million households into its broadband subscribers directly or through operators. Deployed the latest GPON technology for providing high-speed and high-volume Broadband services in Gujarat. GTPL plans penetrate to other regions by upgrading to FTTX Solutions,” the company said in a statement.

The company reported H1 2021 revenue at Rs 1215.9 crore an increase of 12 per cent YoY. Its ISP business revenue stood at Rs 100.6 crore for the quarter ended 30 September. The EBIDTA for the quarter stood at Rs 144.8 crore up by four per cent and profit after tax at Rs 43.3 crore.

“GTPL Hathway continues to deliver on key KPIs during H1 FY22. The highlight of H1 FY22 performance was robust subscriber additions and subscription revenues for the broadband business, coupled with strong balance sheet and return ratios,” said GTPL Hathway managing director Anirudhsinh Jadeja. “The balance sheet remains strong owing to ‘Net Debt Free’ status leading to impressive ROCE and ROE of 33 per cent and 20 per cent, respectively as of 30 September. With the economy getting back to normalcy led by aggressive vaccination drive, the company is geared to strengthen its presence in the existing and new markets.”