GTPL Hathway revenue rises 19 per cent in Q2, but margin pressure pushes firm into loss

DSIJ Intelligence / 14 Oct 2026 / Categories: Mindshare, Trending

GTPL Hathway revenue rises 19 per cent in Q2, but margin pressure pushes firm into loss

GTPL Hathway’s Q2 FY27 revenue rose 19 per cent, aided by cable subscriber growth and the ACT transaction, but higher costs and margin pressure resulted in a net loss.

GTPL Hathway reported a 19 per cent year-on-year rise in consolidated total revenue to Rs 1,146.4 crore for the quarter ended September 30, 2026, but margin compression pushed the company into a net loss of Rs 0.5 crore compared with a profit of Rs 9.3 crore a year earlier.

EBITDA was broadly flat at Rs 110.3 crore against Rs 110.1 crore in the corresponding quarter last year, indicating that the higher revenue did not translate into higher operating profit. EBITDA margin narrowed to 9.6 per cent from 11.4 per cent, while operating EBITDA margin fell to 20 per cent from 22 per cent.

The quarterly result extends the profitability pressure seen in the first half. For H1 FY27, revenue increased to Rs 2,166.3 crore from Rs 1,874.1 crore in H1 FY26, but EBITDA declined to Rs 219.4 crore from Rs 222.4 crore. Profit after Tax for the six-month period dropped sharply to Rs 1.7 crore from Rs 19.8 crore.

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Revenue growth during the September quarter was supported by the digital cable TV business, where revenue increased 14 per cent year-on-year to Rs 345.5 crore. The active subscriber base rose 16 per cent to 11 million, while paying subscribers grew 17 per cent to 10.3 million.

Broadband revenue rose 5 per cent to Rs 145.9 crore, while the subscriber base increased by 20,000 from a year earlier to 1.07 million. Broadband average revenue per user improved by Rs 5 year-on-year to Rs 470 per month, while average monthly data consumption remained high at 436 GB per user.

The company has also completed its acquisition of the ACT Group’s digital TV operations, which has added about 600,000 subscribers across Andhra Pradesh, Telangana, Odisha and Karnataka. The transaction strengthens GTPL’s scale in southern and eastern markets and is central to its plan to widen its distribution footprint.

Managing Director Anirudhsinh Jadeja said the acquisition had expanded GTPL’s operating scale and presence in the acquired markets. ‘As we move forward, our focus will be on effective integration of the acquired operations, strengthening our presence across markets, expanding our Broadband business and improving the overall economics of our operations,’ he said.

The integration will be closely watched because the company is simultaneously investing in expansion and attempting to improve margins. In earlier management commentary, GTPL had indicated that benefits from its Headend-in-the-Sky platform, GTPL Infinity, would emerge gradually as subscriber migration and network savings scale up. Management had expected fuller operating benefits towards the end of FY27, while new-market expansion may involve an initial gestation period.

As of 10:12 a.m. on October 14, 2026, GTPL Hathway shares were trading at Rs 56.52, down 3.63 per cent from the previous close of Rs 58.65. The stock has declined 45.74 per cent over the past year, underperforming the BSE 500, which declined 5.70 per cent over the same period. At the prevailing price, the share was about 48.2 per cent below its 52-week high of Rs 109.05 and around 7.1 per cent above its 52-week low of Rs 52.75.

Disclaimer: The article is for informational purposes only and not investment advice.