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GTPL Hathway's Consolidated FY21 PAT at ₹ 1,885 million, up by 145%

Posted On: 2021-04-16 12:11:50 (Time Zone: UTC)


GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the fourth quarter and twelve months ended on March 31, 2021, as approved by its Board of Directors.

Key Highlights

- Consolidated Q4 FY21 revenue (ex-EPC) at ₹ 5,991 million; up 29% y-o-y; Consolidated FY21 revenue (ex-EPC) at ₹ 21,484 million; up 21% y-o-y

- Q4 FY21 ISP Revenue at ₹ 817 million; up by 77% y-o-y; FY21 ISP Revenue at ₹ 2,792 million; up by 67% y-o-y

- Q4 FY21 EBITDA (incl. EPC) ₹ 1,554 million; up 25% y-o-y; Q4 FY21 EBITDA (ex-EPC) ₹ 1,423 million; up 27% y-o-y; Q4 FY21 PAT at ₹ 571 million

- FY21 EBITDA (incl. EPC) ₹ 5,724 million; up 14% y-o-y; FY21 EBITDA (ex-EPC) ₹ 5,455 million; up 20% y-o-y; FY21 PAT at ₹ 1,885 million; up 145% y-o-y

- Reduced gross debt by ₹ 693 million in FY21

- As on FY21, Paying Subscribers stood at 7.5 million

- Added 45,000 net broadband subscribers in Q4 FY21, total net addition of 2,30,000 broadband subscribers in FY21

- Data consumption per customer at 212 GB/month as on March 2021; up from 162 GB/month in March 2020; Data consumption increased 31% y-o-y.

Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, "GTPL Hathway consistently delivered on key KPIs, despite lockdown and restrictions in FY21. The highlight of FY21 was the growth in subscription revenues for both CATV and Broadband business, strong profitability, net-debt free status, geographical expansion, healthy balance sheet and improved return ratios. We have reduced our gross debt by ₹ 693 million in FY21. Additionally, the Company's board has recommended to increase the dividend to ₹ 4 per share in FY21. The Company associated with Mr. Boman Irani as its Brand Ambassador during Q4FY21. GTPL is gearing up to launch new products and services in FY22, thereby propelling its value-proposition in existing and new markets."

FY21 Consolidated Financial Performance Highlights (as per IND AS)

- Revenue at ₹ 25,300 million; up 4% y-o-y
- Revenue (ex. EPC) at ₹ 21,484 million; up 21% y-o-y
- CATV subscription revenue at ₹ 10,712 million; up 4% y-o-y
- Broadband revenue at ₹ 2,792 million; up 67% y-o-y
- EBITDA at ₹ 5,724 million; up 14% y-o-y; EBITDA (ex. EPC) at ₹ 5,455 million; up 20% y-o-y; EBITDA margin (ex. EPC) at 25.4 %
- Profit after tax at ₹ 1,885 million; surging 145% y-o-y
- FY21 EPC Contract revenue, EBITDA and PBT at ₹ 3,816 million, ₹ 268 million and ₹ 258 million respectively.

Q4 FY21 Consolidated Financial Performance Highlights (as per IND AS)

- Revenue stood at ₹ 7,877 million; up 22% y-o-y
- Revenue (ex. EPC) at ₹ 5,991 million; up 29% y-o-y
- CATV subscription revenue at ₹ 2,665 million
- Broadband revenue at ₹ 817 million, up 77% y-o-y
- EBITDA at ₹ 1,554 million; up 25% y-o-y; EBITDA (ex. EPC) at ₹ 1,423 million; up 27% y-o-y; EBITDA margin (ex. EPC) at 23.8%
- Profit after tax at ₹ 571 million
- Q4 FY21 EPC Contract revenue, EBITDA and PBT at ₹ 1,886 million, ₹ 131 million and ₹ 131 million respectively.

FY21 Standalone Financial Performance Highlights (as per IND AS)

- Revenue at ₹ 18,045 million
- Revenue (ex. EPC) at ₹ 14,229 million; up 18% y-o-y
- CATV subscription revenue at ₹ 7,397 million, up 5% y-o-y
- EBITDA at ₹ 3,560 million; EBITDA (ex. EPC) at ₹ 3,292 million; EBITDA margin (ex. EPC) at 23.1%
- Profit after tax at ₹ 1,329 million; surging 424% y-o-y

Q4 FY21 Standalone Financial Performance Highlights (as per IND AS)

- Revenue at ₹ 5,814 million; up 16% y-o-y
- Revenue (ex. EPC) at ₹ 3,927 million, up 23% y-o-y
- CATV subscription revenue at ₹ 1,852 million
- EBITDA at ₹ 1,012 million; EBITDA (ex. EPC) at ₹ 881 million; EBITDA margin (ex. EPC) at 22.4%
- Profit after tax stood at ₹ 411 million

Business Performance Highlights

CATV

- Paying subscribers as on March 31, 2021 stood at 7.50 million
- The successful implementation of the New Tariff Order (NTO) in India has opened avenues for expansion in existing markets & lifted entry barriers in untapped markets
- GTPL continues to widen its footprints in its existing market and penetrate new markets through inorganic route

Broadband

- During FY21, the company added 5,40,000 Home-Pass. Home-Pass as on March 31, 2021 stood at 3.87 million
- Added 45,000 net broadband subscribers during Q4 FY21. Total subscribers as on March 31, 2021 were 6,35,000 of which 2,00,000 are FTTX subscribers
- The Broadband average revenue per user (ARPU) for FY21 stood at ₹ 445; up 5% y-o-y
- 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

Shares of GTPL Hathway Ltd was last trading in BSE at Rs.130.3 as compared to the previous close of Rs. 124.85. The total number of shares traded during the day was 84263 in over 2455 trades.

The stock hit an intraday high of Rs. 134.4 and intraday low of 122.5. The net turnover during the day was Rs. 11007252.


Source: Equity Bulls

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