AHMEDABAD, India, April 16, 2024 -- GTPL Hathway Limited, India's largest Digital Cable TV Service Provider and a leading Broadband Service provider, announced its Financial Results for the Quarter and Financial Year ending March 31, 2024

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Key Financial Highlights: 

Key Consolidated Business & Financial Highlights: FY24 (Y-o-Y Annual)                                                                           

  • Q4FY24 revenue stood at  8,148  Mn  -  a  growth  of  16%  Y-o-Y;  Subscription Revenue increased by 14% Y-o-Y and Broadband Revenue grew by 5% Y-o-Y
  • FY24 revenue stood at   32,460  Mn  -  a  growth  of  20%  Y-o-Y;  Subscription Revenue increased by 15% Y-o-Y and Broadband Revenue grew by 9% Y-o-Y
  • EBITDA for the quarter stood at ₹ 1,198 Mn an increase of 8% Y-o-Y. EBITDA Margin was 14.7%. For the full year, EBITDA was ₹ 5,111 Mn with EBITDA Margin of 15.7%
  • Q4 FY24 Profit After Tax stood at ₹ 128 Mn and the same for FY24 was ₹ 1069 Mn


Particulars (₹ in Mn)

Q4 FY24






Digital Cable TV Revenue



14 %



15 %

Broadband Revenue



5 %



9 %

TOTAL Revenue



16 %



20 %




8 %



-1 %

EBITDA Margin (%)

14.7 %

15.9 %

15.7 %

19.0 %

Operating EBITDA*(%)

23 %

23 %

24 %

26 %

Profit After Tax





*Operating EBITDA (%) = (EBITDA net of Activation & Other income) / (Subscription+ ISP + Other Operating income)

Business Performance Highlights (Quarter & Year-end)

Digital Cable TV

  • Active subscribers were 9.50Mn as of 31st March 2024 – it saw an increase by 100K Q-o-Q and 550K Y-o-Y
  • Paying subscribers stood at 8.80Mn; increased by 600K Y-o-Y
  • Subscription revenue increased by 14% Y-o-Y to ₹ 3,148 Mn for Q4 FY24


  • Increase in broadband subscribers by 15K Q-o-Q and 100K Y-o-Y thus standing at 1020K
  • Homepass as on March 31, 2024, stood at 5.80Mn – an addition of 500K Y-o-Y. Of the 5.80 Mn, 75% available for FTTX conversion
  • The Broadband average revenue per user (ARPU) stood at ₹ 460 per month per subscriber for the year
  • Average data consumption per user per month at 355GB, an increase of 10% Y-o-Y

Commenting on the Results, Mr. Anirudhsinh Jadeja – Managing Director, GTPL Hathway Limited said,

"At the close of the financial year, we reflect on our achievements with a renewed sense of purpose. We have strengthened our position as India's leading MSO gaining half a million active subscribers in Digital Cable TV and crossing the landmark of one million active subscribers in Broadband.  We anticipate sustained growth in the Digital Cable TV sector, encouraged by market shifts favoring larger, organized MSOs like ours. The Broadband segment is also poised for even greater expansion in the coming year, driven by the increasing digital needs of consumers who seek dependable wired connectivity.

Our long-term strategy involves bundling of all existing verticals along with add-ons of TV Everywhere, Gaming and other services to provide a holistic, comprehensive solution to our customer's media consumption needs. Our goal is to deeply embed ourselves in our customers' lives, positioning our brand as a service provider that seamlessly combines the best of entertainment and connectivity."

About GTPL Hathway Limited

GTPL Hathway Limited is India's largest MSO providing Digital Cable TV services and is one of the 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 1,500 plus towns across India in 23 states. The company enjoys an expansive network, comprising over 42,000+ business partners, 200+ broadcasters, 1,750+ enterprise clientele, and active participation in 30+ Government projects. The company offers an enviable catalogue of 940+ Total TV Channels of which more than 50 channels are GTPL Owned & Operated Platform Services. As on March 31, 2024, the Company has approximately 9.5 Mn Active Digital Cable TV Subscribers and 1.0 Mn Broadband Subscribers and a Broadband Homepass of about 5.80 Mn.

Safe Harbor

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, labor 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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