Companies

GTPL Hathway Q2 consolidated net jumps 118% to ₹35 crore

Our Bureau Ahmedabad | Updated on October 18, 2019 Published on October 18, 2019

Digital cable TV and broadband service provider GTPL Hathway Ltd (GTPL) registered a consolidated net profit of ₹35 crore for the second quarter ended September 2019, up from ₹16 crore reported in the corresponding period last year, showing a rise of about 118 per cent.

The company reported a consolidated total income at ₹616 crore, up by 94 per cent on year-on-year basis from ₹317 crore in the same quarter last year.

For the first half of the fiscal 2019-20, the company reported a consolidated revenue at ₹1,071 crore, up 73 per cent from ₹ 620 crore in the corresponding period last year. The profit after tax for the period stood at ₹68 crore against ₹28 crore, up by 143 per cent from the same period last year.

Anirudhsinhji Jadeja, Managing Director, GTPL Hathway said, “GTPL continued to demonstrate superior business and financial performance in the second quarter of FY20. GTPL’s cutting-edge technology allows us to expand our cable TV business in other regions without any major capex. Our robust cash flow will not only support our capital expenditure plan that is required but also will help us in reducing our debts.”

The company’s broadband average revenue per user for the second quarter was at ₹415.

Company shares traded nearly flat with marginal loss on the Bombay Stock Exchange at ₹71.90 on Friday.

Published on October 18, 2019
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