GTPL Hathway Shares Surge 5% On Spectacular Results

Shares in GTPL Hathway surged 5 per cent and rallied almost 8 per cent in trade today, following a spectacular set of results. The stock was last trading higher by 4.75 per cent at Rs 85.

The company's Consolidated Q3 FY20 revenue stood at Rs 6,875 million; up 115% y-o-y. The Consolidated Q3 FY20 revenue (ex-EPC) was placed at Rs 4,499 million; up 41% y-o-y.

The net profits for the quarter ending Dec 31, 2029 jumped to 329 million; up 77% y-o-y.

Commenting on performance, Anirudhsinh Jadeja, Managing Director, GTPL Hathway said, "GTPL continued to deliver strong business and financial performance in third quarter of FY20. During the quarter, we seeded 150,000 STBs and reported a strong 44% increase in CATV subscription revenue. As we had communicated during the last quarter, our strong cash flow generation is helping us not only meet our capex requirement but also helping in reducing the debt. During Q3, we further reduced our debt by Rs 475 million and, with that, our net debt as on December 31, 2019 stood at Rs 1,861 million," the company said in a statement to the exchanges.

GTPL Hathway Limited is one of India's leading Digital Cable TV and Broadband service provider. It also the number 1 Cable TV Provider in Gujarat with 67 per cent market share.

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