GTPL Hathway's Consolidated FY20 PAT at Rs. 770 million

GTPL Hathway Limited (GTPL), India's leading Digital Cable TV and Broadband Service provider, today announced the financial results for the fourth quarter and year ended March 31, 2020, as approved by its Board of Directors.

The Board has recommended a final dividend of Rs. 3 (30%) per equity share of face value Rs. 10 for the year ended 31st March 2020 subject to shareholder's approval at the ensuing AGM.

Commenting on the performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, "Amidst a year of industry reforms, GTPL Hathway has emerged as a stronger company. Our operating ability to expand our services have improved and so has our ability to generate free cashflow. The highlight of FY20 was strong profitability, debt reduction and geographical expansion. Our FY20 consolidated revenue and EBITDA grew by 88% and 39%, respectively. During the year, we have reduced our gross debt by Rs. 1,293 million. During the year, we have strengthened our CATV presence in Mumbai (Maharashtra) and have entered Chennai (Tamil Nadu). We have also expanded our subscribers base in Andhra Pradesh and Telangana in FY20.

FY20 was the first full year of implementation of the New Framework across the industry. Implementation of new regime prima facie resulted in change in LCOs' earning profile adversely and restricted their cash flow cycle, consequently, lowering their ability to pay their dues to the Company. Pursuant to the above change and assessment carried out by the management, we have recognised Rs. 679.64 million towards impairment of trade receivables and have disclosed the same as "Exceptional Item".

Q4 FY20 Consolidated Financial Performance Highlights (as per IND AS)

- Revenue at Rs. 6,665 million, up 91% y-o-y
- Revenue (ex. EPC) at Rs. 4,846 million, up 39% y-o-y
- CATV subscription revenue at Rs. 2,647 million, up 27% y-o-y
- Broadband revenue at Rs. 461 million, up 27% y-o-y
- EBITDA at Rs. 1,246 million; up 20% y-o-y; EBITDA (ex. EPC) at Rs. 1,117 million; up 8% y-o-y; EBITDA margin (ex. EPC) at 23.1%
- Q4 FY20 EPC Contract revenue, EBITDA and PBT at Rs. 1,820 million, Rs. 129 Million and Rs. 123 million respectively.

FY20 Consolidated Financial Performance Highlights (as per IND AS)

- Revenue at Rs. 24,247 million, up 88% y-o-y
- Revenue (ex. EPC) at Rs. 17,725 million, up 37% y-o-y
- CATV subscription revenue at Rs. 10,308 million, up 41% y-o-y
- Broadband revenue at Rs. 1,674 million, up 16% y-o-y
- EBITDA at Rs. 5,025 million; up 39% y-o-y; EBITDA (ex. EPC) at Rs. 4,564 million; up 26% y-o-y; EBITDA margin (ex. EPC) at 25.7%
- Profit after tax at Rs. 770 million; up 302% y-o-y
- FY20 EPC Contract revenue, EBITDA and PBT at Rs. 6,522 million, Rs. 461 Million and Rs. 447 million respectively.

Shares of GTPL Hathway Ltd was last trading in BSE at Rs.58.45 as compared to the previous close of Rs. 62.8. The total number of shares traded during the day was 5373 in over 239 trades.

The stock hit an intraday high of Rs. 62.9 and intraday low of 57. The net turnover during the day was Rs. 316341.

Source : Equity Bulls

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