GTPL Hathway Ltd
GTPL Hathway Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
GTPL Hathway expects positive growth in both cable TV and broadband subscriber bases, with cable TV paying subscribers increasing by 200K year-on-year and broadband subscribers growing 4% year-on-year. GTPL Hathway expects positive growth in the coming quarters, with revenue and subscriber base anticipated to recover and expand, especially after Q4 FY25, supported by major events like elections and cricketing tournaments.
From GTPL Hathway Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- GTPL Hathway expects positive growth in both cable TV and broadband subscriber bases, with cable TV paying subscribers increasing by 200K year-on-year and broadband subscribers growing 4% year-on-year.
- The company is expanding beyond traditional strongholds (Gujarat and West Bengal) to new states through LCOs and B2B partners, aiming to increase broadband home pass and subscriber base.
- Introduction of new technologies like Headend-in-the-Sky (HITS) project, expected to launch in FY26, will expand market reach across India, enhance efficiency, reduce delivery costs, and boost subscriber additions.
- Broadband growth is driven by B2B segment which showed robust additions (~60% of new subscribers) and is targeted for aggressive expansion in FY26.
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Profitability & Margins
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Capital Expenditure Plans
- Total annual capex planned: INR 350 crores for FY25.
- INR 265 crores already spent till December 31, 2024.
- Breakdown of capex spent:
- Cable TV side: INR 160 crores (about 90% on set-top boxes).
- Broadband side: INR 95 crores (on OFC and structural cables).
- A major ongoing investment is the "Headend-in-the-Sky" (HITS) project:
- Around 80% of project capex completed.
- Expected launch in FY26.
- Funding includes term loans; interest cost is higher due to this project.
- HITS will enable satellite-based TV signal delivery, expanding reach nationwide.
- Additional capex for fiber laying supplements existing investments.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- GTPL Hathway has successfully completed a significant broadband project under BharatNet Phase II within the stipulated two-year timeline and is currently involved in its operation and maintenance.
- The company is actively participating in BharatNet Phase III tenders for 16 states and is hopeful of securing orders, but cannot disclose quantum or execution details due to ongoing judicial matters.
- Besides BharatNet projects, GTPL Hathway is applying for various other government broadband infrastructure projects and remains optimistic about winning and executing these orders.
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GTPL Hathway Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹924 Cr, net loss ₹14 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What GTPL Hathway Ltd's management said in earlier quarters
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Frequently Asked Questions
What were GTPL Hathway Ltd Q3 FY25 results?
GTPL Hathway expects positive growth in both cable TV and broadband subscriber bases, with cable TV paying subscribers increasing by 200K year-on-year and broadband subscribers growing 4% year-on-year. GTPL Hathway expects positive growth in the coming quarters, with revenue and subscriber base anticipated to recover and expand, especially after Q4 FY25, supported by major events like elections and cricketing tournaments.
What is GTPL Hathway Ltd share price analysis?
GTPL Hathway Ltd currently shows a neutral. The stock trades at a P/E of 74.5 with a market cap of ₹595 Cr. Investors should review the full earnings analysis for detailed insights.
Is GTPL Hathway Ltd planning capital expenditure?
Total annual capex planned: INR 350 crores for FY25.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.