GTPL Hathway posts strong results in H1 FY23 registering 10% growth in Revenue Y-o-Y


  • Consolidated Revenue at ₹ 6,620 Million – a growth of 10% Y-o-Y
  • ISP Revenue at ₹ 1,198 increased by 19% Y-o-Y
  • PAT of ₹ 459 Million, an increase of ₹ 26 Million Y-o-Y
  • Digital Cable TV subscribers grew by 550K Y-o-Y
  • Broadband subscribers grew by 135K Y-o-Y
  • As on 30th September 2022, Total active broadband subscribers stand at 870K with a total homepass of 5 Million
  • Net Debt free company

AHMEDABAD, India, Oct. 17, 2022 /PRNewswire/ — GTPL Hathway Limited, India’s largest MSO and a leading Broadband Service provider, announced its Financial Results for the Quarter & half year ended 30th September 2022.



Key Consolidated Business & Financial Highlights: Q2 FY23

Particulars ( in Million)

Q2 FY23

Q2 FY22


H1 FY23

H1 FY22



Digital Cable TV Revenue



1 %



2 %


Broadband Revenue



19 %



21 %


TOTAL Revenues



10 %



10 %








EBITDA Margin (%)

20.9 %

24.1 %

20.9 %

23.7 %

23.5 %

Profit After Tax



6 %




All figures are Ex-EPC


Business Performance Highlights

Digital Cable TV

  • Active subscribers increased by 550K Y-o-Y
  • Consolidated Subscription revenue at ₹ 2,751 Million
  • Standalone Subscription revenue at ₹ 1,936 Million, up by 3% Y-o-Y
  • GTPL continues to widen its footprint in its existing markets and penetrating new markets through both organic and inorganic route


  • 135K broadband subscribers added – an increase of 18% Y-o-Y
  • Homepass as on September 30,2022 stood at 5 Million – an addition of 300K in H1 FY23. Of the 5 Million, 75% homepass available for FTTX conversion
  • Average Revenue Per User (ARPU) for Q2 FY23 stood at ₹ 450 per month
  • Average data consumption per user per month at 300 GB, 33% Y-o-Y

Commenting on the Results, Mr. Anirudhsinh Jadeja, Managing Director, GTPL Hathway Limited said, “We are proud to have delivered on our key KPIs during H1 FY23 by focusing on our key growth objectives. We remain the largest MSO in India riding on our quality services and consumer-centric products and services. We expect to grow our Digital Cable TV business by aggregating smaller MSOs and additionally, expanding the broadband penetration to Digital Cable TV base.

The Broadband segment presents a great opportunity for growth due to consistent increase in demand for wired broadband and increasing data consumption patterns. We aim to capitalize on the immense opportunity for growth and to contribute to the digital growth story of India across rural and urban areas.” 

About GTPL Hathway Limited

GTPL Hathway Limited is India’s largest MSO providing Digital Cable TV services and is the 6th largest Private Wireline Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. The Company’s Digital Cable TV services reach 1,300 plus towns across India in 19 states including Gujarat, West Bengal, Maharashtra, Goa, Bihar, Uttar Pradesh, Madhya Pradesh, Jharkhand, Rajasthan, Odisha, Assam, Tripura, Meghalaya, Manipur, Nagaland, Telangana, Andhra Pradesh, Tamil Nadu, and Karnataka. As on September 30, 2022, the Company has approximately 8.60 Million Active Digital Cable TV Subscribers and 8,70,000 Broadband Subscribers and a Broadband homepass of about 5.00 million.

GTPL Hathway Limited

Investor Relations: Orient Capital

CIN: L64204GJ2006PLC048908

Mr. Bhavin Soni  

Email: [email protected]   

Contact: +91 98335 37225

Name: Piyush Pankaj

Email: [email protected]

Mr. Nachiket Kale  

Email: [email protected]   

Contact: +91 99209 40808

Contact:  +91 98113 21102


Safe Harbor Statement

Any forward looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of These statements are subject to risks and uncertainties Actual results might differ substantially or materially from those expressed or implied Important developments that could affect the Company’s operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs The Company does not undertake any obligation to update forward looking statements to reflect events or circumstances after the date thereof.



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