GTPL Hathway Q3 net profit dips 38% to Rs 24.67 crore, revenue up 24%

GTPL Hathway Ltd, provider of cable and internet services, on Thursday reported a decline of 38.04 per cent in consolidated net profit at Rs 24.67 crore for the third quarter ended December 31, 2023.

The company had posted a net profit of Rs 39.82 crore in the October-December period a year ago, according to a regulatory filing from GTPL Hathway, a firm owned by Reliance Industries Group.

However, its total revenue was up 24.1 per cent to Rs 850.87 crore in the December quarter. It was at Rs 685.63 crore in the corresponding period a year ago.

During the quarter, its revenue from the Cable TV business was at Rs 660.60 crore and Rs 135.20 crore from internet services.

GTPL Hathway’s total income, which also includes other income, was up 22 per cent in the December quarter to Rs 860.66 crore.

Shares of GTPL Hathway Ltd on Thursday closed at Rs 199 on BSE, down 3.91 per cent from the previous close. Business Standard