GTPL Hathway logs 7% FY26 revenue growth, flags broadband push and HITS expansion

GTPL Hathway Ltd reported a resilient financial performance for the quarter and full year ended March 31, 2026, with steady growth across its cable TV and broadband businesses, even as margins moderated amid a competitive operating environment.

The company’s total revenue for FY26 rose 7% year-on-year to ₹3746.6 crore, driven by incremental gains in both its core digital cable TV and broadband segments. For the March quarter (Q4 FY26), revenue stood at ₹934.4 crore, marking a 4% annual increase.

Margins under pressure despite revenue growth

Earnings before interest, tax, depreciation and amortisation (EBITDA) for FY26 came in at ₹432.1 crore, translating to an EBITDA margin of 11.5%. For Q4, EBITDA stood at ₹90.8 crore with a margin of 9.7%, down from 12.7% in the year-ago period, indicating some pressure on profitability.

Operating EBITDA margin for the full year stood at 22%, reflecting relative stability in core operating performance despite quarterly fluctuations.

The board has recommended a dividend of ₹2 per equity share (20% of face value) for FY26, subject to shareholder approval.

Cable TV base remains strong

GTPL continued to maintain a strong presence in the digital cable TV segment, with active subscribers at 94 crore as of March 31, 2026. Paying subscribers stood at 87 crore.

Subscription revenue from cable TV was ₹1186.2 crore for FY26, while Q4 revenue from the segment stood at ₹285 crore.

Broadband growth modest but stable

The company’s broadband business saw relatively modest growth, with revenue increasing 2% year-on-year to ₹558 crore in FY26. Q4 broadband revenue rose 3% YoY to ₹139.4 crore.

Subscriber additions remained limited, with the broadband base rising by 15,000 users year-on-year to 1.06 million. However, key usage metrics improved, with average data consumption per user rising 10% YoY to 436 GB per month in Q4.

Average revenue per user (ARPU) for broadband stood at ₹465 per month, while the company’s home-pass footprint expanded to 5.95 million households, of which around 75% is ready for fibre-to-the-home (FTTX) conversion.

Strategic push into bundled services

Managing Director Anirudhsinh Jadeja said the company delivered “stable and consistent performance” across both segments and is increasingly focusing on expanding its service portfolio beyond traditional offerings.

The company is integrating value-added services such as OTT platforms, gaming, and TV Everywhere solutions, offered in both standalone and bundled formats, in a bid to improve customer engagement and retention.

Launch of HITS platform a key milestone

A major strategic development during the year was the launch of ‘GTPL Infinity’, the company’s Headend-in-the-Sky (HITS) platform. The satellite-based distribution system enables nationwide delivery of television signals and is backed by a large C-band teleport facility in Ahmedabad.

The platform allows partners to roll out services within 24 hours, while optimising costs and expanding distribution reach. It currently delivers around 800 channels, including a significant number of HD channels.

Outlook

Looking ahead, the company said FY27 will be a crucial period as it aims to strengthen its TV distribution capabilities leveraging the new platform and accelerate broadband penetration in key markets.

GTPL remains one of India’s largest multi-system operators for digital cable TV, with operations spanning over 1,500 towns across 26 states and four Union Territories, supported by a network of over 48,000 business partners.